Ultra-High Yield: 3 Stocks With Dividend Yields Over 6% Offer Contrarian Opportunity
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Pfizer stock is down due to lower expected COVID-19 revenue, but has growth potential in other areas like specialty care. It pays a high 6.33% dividend yield.
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Annaly Capital Management is a mortgage REIT paying a 13.62% dividend yield. It was hit by rising rates but could rebound as the Fed pauses hikes.
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AT&T pays a 6.56% dividend yield. Concerns over potential lawsuits and outages are likely overblown for this stable telecom.
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All 3 companies have shares trading at historically low valuations, making them potentially good contrarian buys.
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Average yield across the 3 stocks is 8.84%, making them "ultra-high yield" options compared to the S&P 500.