If you ask an income investor what kind of yield they want from a dividend stock, the answer will likely be “the higher, the better.” But, because of the popularity of many high-yield stocks, their share prices have already been bid up, causing their yields to drop. As a result, you rarely see a well-known company offering a payout north of six percent. For those willing to dig into the out-of-favor sectors of the stock market, it’s still possible to find companies offering much higher yields than the benchmark’s average.
Case in point: Washington Prime Group Inc (NYSE:WPG) stock was far from being a market favorite over the last few years. Today, it offers investors a staggering annual yield of 13.4%. The reason behind WPG stock’s rough ride was its exposure to the retail sector. Headquartered in Columbus, Ohio, Washington Prime Group is a real estate investment trust (REIT) that owns, manages, acquires, and develops retail properties. By the end of last year, the company’s portfolio consisted of 108 assets totaling 59 million square feet.
Source: Income Investors
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