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One of the best ways to protect your portfolio, and generate consistent income is with monthly dividend stocks. In fact, with inflation starting to slowly cool off, some of the top beneficiaries, with respectable yields are real estate investment trusts (REITs). Even better, REITs tend to pay higher dividends than your average equity.

Even analysts at Wedbush are bullish on REITs these days. In fact, Richard Anderson says a number of REITs are still offering inexpensive entry prices after recent pullbacks. Two, the analyst noted that “US REITs tend to outperform after a round of higher interest rates. The combination of higher rates in a more stable environment is beneficial for these stocks,” as quoted by TipRanks.com. All of which should serve as a powerful catalyst for the following monthly dividend stocks.

That being said, let’s take a look at seven of the top, high-yielding REITs you may want to strongly consider buying and holding for the long term.

Realty Income (O)

With a current yield of 5.76%, Realty Income (NYSE:O) – or The Monthly Dividend Company – just declared a dividend of 25 cents. That’s payable on Dec. 15 to shareholders on record as of Nov. 30.

Granted, the real estate investment trust (REIT) dipped in the second half of the year, but you may want to use that weakness as an opportunity with O, one of the most reliable monthly dividend stocks.

For one, with inflation starting to show some signs of cooling off, its tenants should start to see improving discretionary spending. Two, Realty Income has been around for more than 50 years and managed to survive and still thrive. Three, with 13,100 properties, it’s still seeing strong demand, with an occupancy rate of 99%. 

And, it has some of the most reliable tenants on the market, including Dollar General (NYSE:DG), Walgreen’s (NASDAQ:WBA), Dollar Tree (NASDAQ:DLTR), FedEx (NYSE:FDX), BJ’s (NYSE:BJ), CVS (NYSE:CVS), Walmart (NYSE:WMT), and Lowe’s (NYSE:LOW) to name just a few.

AGNC Investment Corp. (AGNC)

Another one of the top monthly dividend stocks to consider is AGNC Investment Corp. (NASDAQ:AGNC), a REIT that invests in residential mortgage-backed securities, where principal and interest payments are guaranteed by the U.S. government or a U.S. government agency. Plus, the REIT carries a yield of about 16.4% and just declared a cash dividend of 12 cents per share. 

Analysts like the REIT here, too. Bank of America, for example, just raised its price target on AGNC to $8.75 from $7.50. Barclays’ analysts also initiated coverage of the REIT with an “equal weight” rating, with an $8 price target. 

Even better, as noted by Motley Fool contributor Sean Williams, billionaires have been investing heavily in AGNC, as well. That includes Steven Cohen of Point72 Asset Management, who picked up 991,743 shares; Israel Englander of Millennium Management, who picked up 941,022 shares; and Ray Dalio of Bridgewater Associates, who picked up 129,160 shares.

Agree Realty (ADC)

There’s also Agree Realty (NYSE:ADC) – another one of the top monthly dividend stocks to consider. With a current yield of 5.16%, the REIT has seen better days, too. But again, use weakness as an opportunity – especially with inflation starting to cool off. Plus, not only did ADC just increase its dividend for the 13th consecutive year to 24 cents, CEO Joey Agree bought 4,000 shares on Oct. 2 for about $215,400. 

At the moment, ADC has 43 million sq. feet of space, and 2,084 properties that it leases to reliable, investment grade tenants. In fact, some of its biggest clients include Walmart, Tractor Supply  (NASDAQ:TSCO), Best Buy (NYSE:BBY), CVS, Dollar General, Hobby Lobby, Sherwin-Williams (NYSE:SHW), Home Depot (NYSE:HD), and BJ’s Wholesale to name a few.

Earnings haven’t been too shabby either. Third quarter adjusted funds from operations (FFO) of $1 beat analyst expectations by a penny. It was also up from 96 cents year over year. Revenue of $136.8 million was also above estimates for $135 million. 

Wells Fargo initiated coverage of ADC with an overweight rating, with a $70 price target. The firm noted the ADC REIT “seeks to cultivate a recession-resistant Net Lease portfolio tenanted by e-commerce resistant operators,” and is the firm’s Top Pick in Net Lease REITs, as noted by TipRanks.com.

Main Street Capital (MAIN)

With a yield of 6.85%, Main Street Capital (NYSE:MAIN) is a private equity firm that provides financing to small and midsize companies that can’t often secure funding from traditional institutions. And while that can expose it to clients with less than perfect credit, MAIN still carries a solid yield for shareholders. In fact, it just boosted its monthly dividend to 24 cents. 

That’s payable Jan. 12 to shareholders of record, as of Jan. 4. It’s payable on Feb. 15 to shareholders of record, as of Feb. 7. Plus, not only has MAIN increased its dividend for the last 12 years, it pays out 90% of its free cash flow to shareholders.

STAG Industrial (STAG)

Next up, STAG Industrial  (NYSE:STAG), which leases industrial properties, like warehouses and distribution centers to e-commerce companies, for example, and has benefited from consumers shifting to online shopping. It also carries a yield of 4.09%, and just announced it’s paying a dividend of 12 cents to shareholders on Dec. 15 to shareholders of record, as of Nov. 30; and on Jan. 16, 2024 to shareholders of record, as of Dec. 29.

While the REIT was forced to pause its acquisition of industrial properties thanks to sky-high interest rates, it’s again ramping up its efforts. In the third quarter, for example, the REIT acquired about a dozen properties for over $204 million, as noted by Motley Fool contributor Matthew DiLallo. It bought another three for about $67.4 million in October, as well.

Earnings have also been solid. In the third quarter, the REIT’s core FFO per share of 59 cents beat expectations for 57 cents. Revenues of $179.3 million were also better than estimates calling for $175 million. Better, according to Bank of America analysts, “Industrial real estate appears to have reached an inflection point and is poised to bounce up next year as the sector normalizes in the wake of the pandemic,” as noted by Seeking Alpha.

Apple Hospitality REIT (APLE)

With a yield of 5.86%, Apple Hospitality REIT (NYSE:APLE) currently owns about 224 hotels in 87 markets throughout 37 U.S. states. And while it did have a painful start to the year, it’s been on the run since bottoming out in late March. 

Helping, some of its top tenants include hotel chains such as Marriott International (NASDAQ:MAR) and Hyatt Hotels (NYSE:H) – most of which are benefiting as more people go on vacation. APLE also just declared a monthly cash distribution of 8 cents per common share – payable on Dec. 15 to shareholders of record as of Nov. 30. 

Global X Super Dividend ETF (SDIV)

Or, take a look at the Global X Super Dividend ETF (NYSEARCA:SDIV). With a 12.67% yield and an expense ratio of 0.58%, the ETF pays out a monthly dividend. It holds 103 stocks spread across mortgage REITs, financials, energy, materials, utilities, industrials, and consumer discretionary. 

Some of its top holdings include Omega Healthcare (NYSE:OHI), Starwood Properties (NYSE:STWD), Arbor Realty Trust (NYSE:ABR), Annaly Capital (NYSE:NLY), Chimera Investment (NYSE:CIM), and Medical Properties (NYSE:MPW) to name just a few.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Warren Buffett has a well-known love affair with stocks that pay dividends. Over half the stocks in Berkshire Hathaway‘s (NYSE:BRK-A) NYSE:BRK-B) portfolio pays dividends. Even after completely selling off stalwart blue-chip dividend payers like Johnson & Johnson (NYSE:JNJ) and Procter & Gamble (NYSE:PG), Buffett is on track to rake in around $6 billion in dividend checks this year. This article explores the rest of those Warren Buffet dividend stocks.

Yet the Oracle of Omaha is miserly when it comes to paying dividends himself. Berkshire Hathaway certainly has the means to pay for one. At the end of last quarter, there was a record $157 billion in cash in the bank, but Buffett still refused. He prefers to invest Berkshire’s retained earnings himself rather than allow shareholders to do so.

Almost all of Berkshire Hathaway’s income will come from just seven Warren Buffett dividend stocks. They will pay out more than $5 billion, or over 80% of the total.

What follows are Warren Buffet dividend stocks he collects most of his income from.

American Express (AXP)

There are few companies with the cachet of American Express (NYSE:AXP). It’s one of the reasons Buffett owns the stock and has for decades. He told Bloomberg last year, “You can’t create another American Express.” 

Yet it’s been over 20 years since he’s purchased any more of the stock. He’s happy to collect about $363 million a year from the credit card company whose dividend yields 1.5% annually. Buffett owns 151 million shares today. It’s a testament to the preferred stock he bought in the early 1990s and converted to common stock over time.

American Express benefits from targeting higher net-worth individuals than other credit card companies. Because the wealthy naturally tend to weather economic storms better than others, they keep spending even in environments not ideally suited to credit card usage. It makes American Express a stock to consider for when times get tough.

Kraft Heinz (KHC)

Packaged goods company Kraft Heinz (NYSE:KHC) not only pays Buffett one of the largest sums of dividend cash, but it’s also one of his biggest holdings. His 325 million shares deliver almost $524 million in payments on a dividend-yielding a lucrative 4.6% annually. This makes it one of those notable Warren Buffet dividend stocks.

Yet it’s a stock he regrets buying. Sort of. Buffett helped private equity firm 3G Capital finagle a takeover of H.J. Heinz 10 years ago and then maneuvered the ketchup maker into acquiring Kraft Foods. It was not a good deal.

Buffett says he paid about $100 billion in tangible assets, using only $7 billion worth. Although he thinks the combined company is still an overall good business, he admits, “We overpaid for Kraft.”

Kraft Heinz stock was 14% lower in 2023 compared to a 19% gain by the S&P 500. Although the dividend payments partially salved the botched deal, Buffett would undoubtedly like to go back in time and undo the merger.

Chevron (CVX)

Integrated oil and gas giant Chevron (NYSE:CVX) is a stock Buffett continues to sell. He shed about 12 million shares in the third quarter, on top of the 10 million he dumped in the second. Yet even with the new share count, Berkshire Hathaway will receive over $650 million in dividend payments.

Buffett still has a total of 110 million shares, which, with a dividend of $0.86 a share yielding 4.2%, provides plenty of cabbage. It’s a stock he may ultimately regret selling down.

Chevron just announced a massive acquisition: It will acquire industry peer Hess (NYSE:HES) for $53 billion in an all-stock deal. The market didn’t like the deal, though, sending the stock careening 10% lower on the news. Shares are off about 20% year to date.

Yet industry consolidation is ramping up. Exxon Mobil (NYSE:XOM) said it was buying Plains Natural Resource (NYSE:PXD) for $43 billion. Fossil fuel demand rises unabated, and Hess gives Chevron assets in Guyana. That’s proving to be a rich area for oil and will surely pay dividends in time.

Coca-Cola (KO)

Coca-Cola (NYSE:KO) is another example of Buffett buying a consumer-facing company. Like American Express, the beverage titan has unparalleled brand recognition and loyalty. According to Brand Finance, Coca-Cola is the world’s most valuable and strongest non-alcoholic drinks brand, valued at $35.3 billion. That’s nearly twice the value of steel cage death match rival PepsiCo (NASDAQ:PEP) at $18.3 billion.

It’s also the stock Buffett has owned the longest. He had been a Pepsi investor (and soda drinker), but switched to Coke in the 1980s and never looked back. He famously drinks several Cherry Cokes a day.

Buffett’s 400 million shares of Coca-Cola stock brings in nearly three-quarters of a billion in dividend income a year. The payout yields 3.1% annually. The stake is equivalent to a 9.3% ownership interest in the beverage company. That would be a big position for you or me, but it actually represents one of Buffett’s smaller holdings.

Apple (AAPL)

It’s not a surprise Apple (NASDAQ:AAPL) is so high on the list of Buffett’s biggest dividend stocks. His affinity for tech stocks allowed it to become his largest position, totaling almost 49% of Berkshire Hathaway’s portfolio. Even though Apple’s dividend yields a relatively paltry sum of just 0.5% annually, Buffett makes up for it by owning over 915 million shares.

Moreover, Apple is growing its dividend payment. Over the past decade, the payout has increased by nearly 9% annually. The dividend should continue growing in the future, too. Apple’s payout ratio, or the profits it pays out as dividends, is just 15%. That means not only is the dividend safe, but there is ample room for additional growth. Apple can easily afford to pay and raise the dividend with $60 billion available in cash, equivalents, and short-term investments.

Apple manages to defy expert opinions its stock will crash and burn. Even as product sales slow, services surge. Services revenue surged 16% last quarter, achieving a record across the App Store, advertising, AppleCare, iCloud, payment services, and video. It’s a stock you should always buy on the dip because it seems to pull through in the end.

Occidental Petroleum (OXY)

Another oil stock, Occidental Petroleum (NYSE:OXY), is tricky to place on this list because the 228 million shares Buffett owns result in only $163 million in dividend payments. Yet Berkshire Hathaway also bought $10 billion worth of preferred stock to help Occidental acquire Anadarko Petroleum in 2019. The preferred stock yields 8%, giving Buffett around another $800 million in income. All in all, it’s one of those important Warren Buffet dividend stocks.

However, Occidental has been repurchasing the preferred stock. It bought back $342 million worth of preferred in the third quarter, bringing the total repurchased this year to $1.5 billion. The conditions on the shares, though, require Occidental to pay Berkshire any accrued and unpaid dividends when redemptions are made. Figuring out exactly how much Buffett will make this year will have to wait.

Buffett doesn’t seem to mind. After taking a breather from his buying spree of Occidental stock in the second quarter, Buffett resumed being a buyer of shares in the third, picking up another 4 million shares.

Bank of America (BAC)

Simply by being the one stock Buffett owns the most of, Bank of America (NYSE:BAC) is also the one that cleanly delivers the most dividend income. The billion-plus shares in Berkshire Hathaway’s portfolio generate $990 million in dividends. The $0.96 per share payout yields 3.2% annually.

Buffett has stood by Bank of America stock over the past year, too. He likes the management team and wouldn’t sell shares even when he was clearing out Berkshire of all other bank stocks it owned. Still, despite the stock being down 10% year to date, Buffett hasn’t been a buyer either.

Although it doesn’t look like Bank of America is at risk of going under as a number of regional banks did at the start of 2023, it is hurt more than its peers in today’s high-interest rate environment. Bank of America purchased long-term, low-yield assets during the pandemic, and those are weighing on its performance.

It ought to come out just fine, but it could be causing Buffett’s reticence today considering the financial market turmoil.

On the date of publication, Rich Duprey held a LONG position in CVX, JNJ, KO, PG, and XOM stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.