FSZ:CC - 4 Passive-Income Stocks With Yields Over 7%
Motley Fool investors are likely very interested in finding passive-income stocks right now. And it makes sense. These companies are perfect to help you offset costs coming in from rising inflation and interest rates.
Now, I’m not saying these are the perfect stocks to invest in long term. And, frankly, you should have a long-term strategy when it comes to your investing. But if you’re looking for some short-term income to offset the blow, here are four passive-income stocks yielding over 7%.
Chemtrade
Chemtrade Logistics Income Fund (TSX:CHE.UN) offers industrial chemicals and services throughout the United States and Canada. It’s long been known as a high-dividend producer with a yield of 7.1% at the time of writing this article.
The company recently saw revenue increase to $390.3 million during its latest earnings result, moving from debt to profit compared to the year before. Its adjusted EBITDA more than doubled year over year, with the company increasing its annual guidance.
Shares are up 8.4% year to date.
Fiera Capital
Fiera Capital (TSX:FSZ) is an investment manager focusing on institutional investors, mutual funds, and private clients. It has a broad range of growth and value stocks in small-cap companies. It currently offers a dividend yield at a whopping 9.36%.
The company continued growth during the last quarter, seeing assets under management at $174.5 million. However, net earnings and adjusted EBITDA fell from the quarter, thanks mainly to the drop in the economy.
Shares are currently down about 10% at the time of writing this article.
Slate Grocery REIT
Slate Grocery REIT (TSX:SGR.U) is a grocery-anchored real estate investment trust (REIT) with stores throughout the United States. The main benefit here is that these stores tend to offer long lease agreements, and are set up in large metropolitan cities for stable income. It offers a dividend yield at 7.69% as of writing.
During its latest quarter, Slate managed to achieve a fully occupied space with total occupancy at 93.2%. Its portfolio is secured as 97% are through net leases, giving protection even during this market. However, while rental revenue climbed 20% year over year, net income fell by about 55%.
Shares are where they were back in the beginning of January 2022.
True North Commercial
Finally, True North Commercial REIT (TSX:TNT.UN) is a REIT that owns and operates commercial properties throughout Canada. It mainly focuses on urban and strategic markets across the country, with long-term lease agreements coming from the government and credit-rated tenants. It offers a dividend yield of 9.79%.
Its latest earnings report saw the company collect 99.5% of its contractual rent, with a 5.5-year average lease agreement, an increase of 3.8%. Its occupancy remained at 96%, with revenue increasing 4% driven by acquisitions as well even as inflation costs rise.
Shares are down 16% as of writing.
Foolish takeaway
Now, there’s a reason for some of these passive-income stocks that their dividends are so high. It’s because their shares have also dropped so low, with investors losing confidence. So, I’m not saying these are strong holds forever.
However, they could be good choices to collect some passive income, as the economy recovers today. That decision is entirely up to you.
The post 4 Passive-Income Stocks With Yields Over 7% appeared first on The Motley Fool Canada .
Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends FIERA CAPITAL CORP.
2022