In this article, we will be taking a look at 5 high beta dividend stocks to buy. To read our detailed analysis of dividend investing, you can go directly to see the 10 High Beta Dividend Stocks to Buy.
5. Federal Realty Investment Trust (NYSE:FRT)
Number of Hedge Fund Holders: 16
Dividend Yield: 3.5%
Beta Value: 1.16
Federal Realty Investment Trust (NYSE:FRT) is another real estate investment trust on our list of high beta dividend stocks to buy.
This October, Deutsche Bank analyst Derek Johnston raised his price target on Federal Realty Investment Trust (NYSE:FRT) to $140. The analyst also reiterated a Buy rating on the stock.
The announced FFO for Federal Realty Investment Trust (NYSE:FRT) in the second quarter of 2021 was $1.41, beating estimates by $0.24. The company’s revenue was $230.79 million, beating estimates by $10.16 million. It has also gained 11.90% in the past 6 months and 48.68% year to date.
According to our data of 873 hedge funds, 16 hedge funds held stakes in Federal Realty Investment Trust (NYSE:FRT) in the second quarter of 2021, worth $87 million. Comparatively, 16 hedge funds held staked in the company in the previous quarter as well, worth $43 million.
4. Raytheon Technologies Corp (NYSE:RTX)
Number of Hedge Fund Holders: 53
Dividend Yield: 2.2%
Beta Value: 1.21
Raytheon Technologies Corporation (NYSE:RTX), an aerospace and defense company, offers systems and services for commercial, military, and government customers.
This September, Morgan Stanley analyst Kristine Liwag kept an Overweight rating on shares of Raytheon Technologies Corporation (NYSE:RTX).
Insider Monkey’s data on 873 hedge funds shows that by the end of the second quarter of 2021, 53 hedge funds held stakes in Raytheon Technologies Corp (NYSE:RTX). The total stake value was $2.1 billion, compared to the $2.5 billion figure in the previous quarter, when 58 hedge funds held stakes in the company.
ClearBridge Investments, an investment management firm, mentioned Raytheon Technologies Corp (NYSE:RTX) in its second-quarter 2021 investor letter. Here’s what they said:
“Broader market leadership was a relative benefit for the ClearBridge Large Cap Value Strategy, which outperformed the Russell 1000 Value Index in the second quarter… Separately, Raytheon Technologies benefited from an improving health outlook that is contributing to a faster than anticipated recovery in air travel, which should drive stronger results for Raytheon’s commercial aerospace business.”
3. SYSCO Corporation (NYSE:SYY)
Number of Hedge Fund Holders: 40
Dividend Yield: 2.4%
Beta Value: 1.23
SYSCO Corporation (NYSE:SYY) is an American multinational wholesale company.
The fiscal fourth quarter 2021 earnings report for SYSCO Corporation (NYSE:SYY) showed an EPS of $0.71, beating estimates by $0.11.
Out of 873, 40 hedge funds held stakes in SYSCO Corporation (NYSE:SYY) in the second quarter of 2021.
2. ConocoPhillips (NYSE:COP)
Number of Hedge Fund Holders: 50
Dividend Yield: 2.4%
Beta Value: 1.30
ConocoPhillips (NYSE:COP), a natural gas liquids company, is next on our list of high beta dividend stocks to buy, ranking 2nd. The company explores hydrocarbon and is based in Houston’s Energy Corridor district.
As of this October, Truist analyst Neal Dingmann holds a Buy rating on shares of ConocoPhillips (NYSE:COP). The analyst also raised his price target on the stock to $100.
In the second quarter of 2021, 50 hedge funds held stakes in ConocoPhillips (NYSE:COP) worth $1.2 billion. This is compared to 51 hedge funds in the previous quarter, with a total stake value of $1.2 billion then as well.
1. Microchip Technology Incorporated (NASDAQ:MCHP)
Number of Hedge Fund Holders: 50
Dividend Yield: 1.2%
Beta Value: 1.85
Microchip Technology Incorporated (NASDAQ:MCHP) is a leading technology company operating in the US. The company is publicly listed as an American corporation and manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits. It ranks 1st on our list of high beta dividend stocks to buy.
This October, Stifel analyst Tore Svanberg began covering shares of Microchip Technology Incorporated (NASDAQ:MCHP) with a Hold rating. The analyst also placed a $76 price target on the shares.
The end of the second quarter showed 50 hedge funds holding stakes in Microchip Technology Incorporated (NASDAQ:MCHP) worth roughly $1.1 billion. Comparatively, 42 hedge funds held stakes in the company in the previous quarter, worth roughly $962 million.
You can also take a peek at Cathie Wood’s Strong Comeback: ARK’s Latest Stock Picks, Portfolio Updates and Comments and Top 20 Valuable and Innovative AI Companies in the World.
