Dividend investors may want to consider the following three stocks, as they are offering much higher dividend yields than the S&P 500 Index. The benchmark index's dividend yields 1.35% as of Friday, June 25.
Wall Street sell-side analysts have also issued positive ratings for most of these stocks.
Hennessy Advisors Inc
The first company dividend investors may want to consider is Hennessy Advisors Inc (HNNA, Financial), a Novato, California-based asset management firm investing in publicly traded equities with a focus on growth stocks and in fixed income securities all over the world.
Based on Friday's closing price of $9.36 per share, Hennessy Advisors Inc offers a trailing 12-month and forward dividend yield of 5.88%. The company last paid a quarterly dividend of 13.8 cents per common share on June 4.
Hennessy Advisors Inc has paid dividends for approximately 15 years.
On Wall Street, as of June, the stock has one recommendation rating of buy with a target price of $13.25 per share.
The share price has risen by 18.33% over the past year, determining a market capitalization of $68.93 million and a 52-week range of $7.76 to $12.50.
Also, the 14-day relative strength index of 54 indicates that this stock is neither overbought nor oversold.
Invesco Senior Income Trust
The second company dividend investors may want to consider is Invesco Senior Income Trust (VVR, Financial), an Atlanta, Georgia-based asset management firm focusing on investments in fixed income U.S. markets.
Based on Friday's closing price of $4.42 per share, Invesco Senior Income Trust offers a trailing 12-month dividend yield of 5.63% and a forward dividend yield of 5.7%. The last monthly payment, 2 cents per common share, was made on June 11.
Invesco Senior Income Trust has paid dividends for approximately 10 years.
The stock has not received any recommendation ratings yet from sell-side analysts on Wall Street in June.
The share price has increased by 28.86% over the past year for a market capitalization of $676.40 million and a 52-week range of $3.38 to $4.45.
The 14-day relative strength index of 72 suggests that this stock is not so far from overbought levels.
Global Medical REIT Inc
The third company dividend investors may want to consider is Global Medical REIT Inc (GMRE, Financial), a Bethesda, Maryland-based real estate investment trust that acquires healthcare facilities to lease them to healthcare systems and physician groups holding leading market share.
Based on Friday's closing price of $15 per share, Global Medical REIT Inc offers a trailing 12-month dividend yield of 5.4% and a forward dividend yield of 5.47%. The last quarterly payment, 20.5 cents per common share, was made on April 8, while the next payment, in line with the prior one, will be made on July 8.
Global Medical REIT Inc has paid dividends for approximately six years.
On Wall Street, as of June, the stock has a median recommendation rating of buy and an average target price of $16.71 per share.
The share price has risen by nearly 33% over the past year, determining a market capitalization of $911.91 million and a 52-week range of $10.01 to $15.98.
The 14-day relative strength index of 51 indicates that this stock is neither overbought nor oversold.
Disclosure: I have no positions in any securities mentioned.
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