Due to the tech rally surrounding AI, this year has been challenging for many traditional stocks, leaving some investors skeptical about the buy-and-hold strategy…
Despite the underperformance of some established stocks, some long-term investments are still performing well in 2023. These stocks have:
– Dividend yields that exceed 3% and are lucrative relative to low share prices. – Market capitalizations of at least $10 billion.
– Positive returns for the year.
– Solid business foundations and income potential.
Amidst the tech frenzy on the Street, analysts suggest we buy and hold these reliable stocks…
Corning Inc (GLW)
Corning Inc. (GLW) is a leading high-tech glass and ceramics producer. GLW’s “display” segment creates monitors and screens for mobile devices and tablets, while its “optical communications” segment supplies fiber-optic cables for high-speed data connections. GLW’s wide range of products also includes radiation shields, telescopic lenses, and labware. With its expertise, manufacturing scale, and specialized focus, GLW enjoys a competitive advantage, making it an attractive option for long-term income investors.
GLW stock is currently up year-to-date by 10.80%, has a 0.99 beta score, a positive SMA (simple moving average), a positive ROE (return on equity), and a current operating free cash flow of $2 billion. GLW has a PEG (price/earnings/growth) ratio of 0.8x, a P/S (price to sales) ratio of 2.19x, and a 2.5x P/B (price to book) ratio. At its last earnings call, GLW reported EPS of $0.41 vs. $0.39, as projected by analysts, a 4.70% surprise; it also slightly beat on revenue by 0.42%. GLW is forecast to report $3.5 billion at $0.46 per share for the current fiscal quarter. GLW has an annual dividend yield of 3.16%, a quarterly payout of 28 cents ($1.12/year) per share, and a 102.85% payout ratio. With a 10-day average volume of 3.35 million shares, GLW’s average price target is $38.50, with a high of $42 and a low of $30; this implies a potential upside of almost 19% from current pricing. GLW has 13 buy ratings and three hold ratings.
Welltower Inc (WELL)
Welltower Inc. (WELL) is a prominent operator in the senior housing and health systems sectors across the U.S., Canada, and the U.K. With an aging population requiring more intensive care, WELL’s business model can benefit from a long-term tailwind. Projections indicate that the U.S. population aged 65 and older will exceed 80 million by 2040, more than double the figure in 2000. As a real estate investment trust (REIT), WELL focuses on property ownership and investment rather than direct care provision. While WELL experienced some challenges during the pandemic, its positive momentum is evident. WELL recently raised its forward guidance and is currently trading near its highest levels in almost a year.
WELL’s stock is a strong performer, up 23.04% year-to-date, with a 0.84 beta, a positive SMA, a positive ROE, a PEG ratio of 2.51x, and a P/B ratio of 1.92x. For the present fiscal quarter, WELL is predicted to report sales of $1.6 billion and an EPS of $0.16 per share, with a 1-year EPS growth rate of 221.7%. WELL currently carries a free cash flow of $2.34 billion, with a 10-day average volume of 2.1 million shares. WELL has a 3.02% annual dividend yield, a quarterly payout of 61 cents ($2.44/year) per share,
and an astounding payout ratio of 938.46%. Based on analysts’ forecasts, WELL has a median price target of $88, with a high of $111 and a low of $74, representing a possible price leap of almost 38% from its current position. WELL has 15 buy ratings and one hold rating.
CubeSmart (CUBE) may be the most minor stock among its peers on this list in terms of market value, but its unique business model sets it apart. As a manager of self-storage properties and portable storage “cubes,” CUBE taps into the reliable demand for extra storage space. Notably, the self-storage industry thrives during economic downturns when downsizing becomes more prevalent, which can only benefit CUBE. In recent years, CUBE has transformed into a dividend powerhouse, with payouts growing by over 300% in the last decade.
CUBE’s stock is up year-to-date by 12.77%, is trading near the middle of its existing 52-week range, and has a volatility-safe 0.60 beta score. CUBE has both a positive 200-day SMA and a favorable ROE. At its last earnings call, CUBE reported EPS of $0.43 per share vs. $0.33 per share as expected by analysts, a 31.5% beat. For the current quarter, analysts predict that CUBE will post $261.5 million in sales at $0.42 per share, with a 3-5 year EPS growth rate of 13.4% per year. CUBE has a free cash flow of $495 million and a 10-day average volume of 1.37 million shares. CUBE has a 4.32% annual dividend yield, a quarterly payout of 49 cents ($1.96/year) per share, and a 118.71% payout ratio. Based on analyst sentiment, CUBE has an average price target of $50, with a high of $64 and a low of $47; this suggests a potential upside of 41% from its current share price. CUBE has eight buy ratings and six hold ratings.
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