Ryne Williams: 3 Deeply Discounted Dividend Stocks to Buy In August 2023

Most stocks have recovered the bulk of their losses from 2022’s selloff. Some are even making new highs. Fortunately, a handful of companies have lagged the market. They now offer investors the opportunity to buy at a reasonable value without chasing prices higher.

Even better, by buying dividend-paying companies still trading at a bargain price, investors can get a higher starting dividend yield. And with dividend growth, they can come out ahead over time.

With the market rally slowing now, taking a dividend-focused approach can avoid the pain of a market decline now.

One company trending lower lately is Crown Castle Incorporated (CCI). Shares are down about 22 percent so far this year, and 38 percent over the past one-year period.

The company owns and leases out cell towers. Fortunately, it’s a real estate investment trust (REIT). That allows it to pay out sizeable dividends to shareholders.

Most recently, Crown Castle’s drop has pushed its dividend yield up to 5.8 percent. Plus, it’s dividend has increased for 8 straight years. Since most of its long-term contracts have escalation clauses, Crown Castle can likely continue increasing its dividend for the foreseeable future.

Even better, Crown Castle trades at a discount to its peers in the cell tower REIT space.

To view the other two discounted dividend stocks that look attractive now, click here.