IIPR - 1 Risky Dividend Stock Paying 7.6% That Investors Should Avoid
Dividend investors have plenty of high-yielding stocks to choose from nowadays. The downturn in the markets has created some attractive buying opportunities. But there are some dividend stocks that investors shouldn't buy on the dip, regardless of how tempting their yields may appear to be.
Innovative Industrial Properties (NYSE: IIPR) pays a dividend yield of 7.1% right now, which is more than four times the S&P 500 average of 1.8%. But despite the top payout, this is a stock I'd avoid, for the following reasons.
In recent years, Innovative Industrial Properties (IIP) has been aggressively raising its payouts. While that attracted many dividend growth investors to the stock, those generous rate hikes have also made the stock a bit more dangerous of an investment to be holding right now.
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1 Risky Dividend Stock Paying 7.6% That Investors Should Avoid