Income investing

Ryne Williams: 3 Deeply Discounted Dividend Stocks to Buy In July 2024

Posted on by Andrew Packer

The stock market ended the first half of 2024 near all-time highs. However, most of that was driven by tech stocks, which continued on their massive gains from 2023.

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    • Several sectors significantly underperformed in the first half of 2024. These sectors could take over leadership in the second half of the year, especially if tech takes a breather. Many of these sectors also offer dividend payments, which pays an investor for their patience.

    Part of the reason some sectors have languished is that interest rates have remained high.

    Expectations for rates to come down have continued to get kicked down the road.

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    However, rates could start to come down near the end of the year. That could make income-oriented stocks more attractive relative to bonds.

    That’s especially true of real estate plays. One such company is VICI Properties (VICI). The REIT has a major stake in a number of properties  in the U.S. and Canada, focused on gaming destinations.

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    • Shares have dropped nearly 10% in the past year. That’s pushed the dividend up to about 6%. The dividend is well covered by income. And VICI has been able to grow its dividend slightly over the past few years. Most REITs lack the ability to significantly grow their dividends.

     

    To view the full list of deeply discounted dividend stocks, click here.