SKT - These Red-Hot Dividend Stocks Still Look Like Great Buys
2023-08-19 08:03:00 ET
The S&P 500 has rallied about 15% this year and is even further above its bear market bottom of last fall. Meanwhile, many stocks have been even hotter over the past year.
Despite their rally, several hot stocks still look like attractive buys right now. Digital Realty (NYSE: DLR) , Tanger Factory Outlet Centers (NYSE: SKT) , and Rithm Capital (NYSE: RITM) stand out to a few Fool.com contributors as compelling investment opportunities, even though they're up sharply. One big draw is the attractive dividends .
Matt DiLallo (Digital Realty): Shares of Digital Realty have surged more than 20% this year, outperforming the more than 15% rally in the S&P 500 . The data center REIT's progress on its 2023 capital plan is a big catalyst. That has eased some of the pressure on its balance sheet and the concerns that it might need to cut its 4%-yielding dividend.
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These Red-Hot Dividend Stocks Still Look Like Great Buys