The effects of the COVID-19 pandemic vary by sector, but some stocks have had their share prices knocked down even though the businesses themselves aren't taking the hit investors have priced in. For dividend investors, that creates a double opportunity: to get an unusually high yield, and for potential appreciation in the share price. The two businesses below are each yielding between 4.5% and 5%, with share prices still down approximately 20% for the year. But digging into the details indicates the underlying businesses remain strong, and investors today could reap the benefits of a price correction...
When the pandemic forced many businesses to close to help slow the virus spread, investors dumped just about anything in the retail sector. Real estate investment trust (REIT) Realty Income (NYSE:O), owner of over 6,000 retail properties throughout the country, saw its share price plummet by over 50% from its February highs. But those properties are mostly in essential industries that remained open during the pandemic. Another sector hit hard by the economic shutdown is industrial companies. Industrial supplier MSC Industrial Direct (NYSE:MSM) reported fiscal third-quarter earnings on July 8, and it beat analyst expectations on sales and income. The company said it saw "unprecedented demand for all personal protective equipment (PPE) and worker wellness products" in the quarter, ending May 30.
Source: Motley Fool
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