5 New Stocks Under $10 Paying Huge Dividends With Ultra Yields of 10% and More

24/7 Wall St. Perspectives

• With rates now officially heading lower, ultra-high yield stocks will be in high demand.
• Expect at least another 50 basis points of cuts this year.
• Sit back and let dividends do the hard work for a simple and steady path to serious wealth creation over time. Grab a free copy of “7 Things I Look for in a Dividend Stock,” plus get the two best dividend stocks to own today. Access two legendary high-yielding dividend stocks that Wall Street loves.

Investors love dividends stocks, especially the ultra-high-yielding variety, because they offer a significant income stream and massive total return potential. Total return includes interest, capital gains, dividends and distributions realized over time. In other words, the total return on an investment or portfolio consists of income and stock appreciation.

While most of Wall The Street focuses on large and mega-cap stocks because it offers a degree of safety and liquidity many investors are limited in the number of stocks they can buy. Many of the top public companies, especially the tech giants, trade at prices as high as $1,000 per share, while many are in the low to mid-hundreds. It’s hard to get decent share count leverage at those steep prices.

Many investorsespecially the more aggressive traders look at stocks at lower prices to make good money and get more shares. This can help the decision-making process, especially when you’re on a winner, as you can always sell and keep half.

For low price stock skeptics, many of the world’s biggest companies, including Apple, Amazon, Netflix and Nvidia, have traded in the single digits at one point.

I screened our wall st research database 24/7, which looks for companies trading under $10 that pay double-digit dividends with ultra-high yield and could provide patient investors with enormous returns for the rest of 2024 and beyond. Five companies popped up on our screens and all seem like solid ideas, especially given the lower rate environment.

Capital of BrightSpire

BrightSpire Capital focuses on creating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and net lease real estate investments.

With a massive 10.51% dividend and trading under $7, this company could be a total homecoming. BrightSpire Capital Inc. (NYSE: BRSP) operates as a commercial credit real estate investment trust (CRE) in the United States and Europe.

The company operates through:

• Senior and mezzanine loans and preferred equity
• Net rent and other real estate
• Corporate and other segments

Focus on origination, acquisition, financing and management of a diversified portfolio of CRE debt investments, including first mortgage loans, senior loans, debt securities, mezzanine loans, preferred equity investments and net leasehold properties.

The company qualifies as a real estate investment trust for federal income tax purposes. Generally, it would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its shareholders.

Fortitude Gold

Fortitude Gold is a US gold producer targeting projects with low operating costs, high margins and strong return on capital.

Gold is printed all-time highs and with a 10.55% dividend, this could be a great way to play this sector. Fortitude Gold Corp. (OTC: FTCO) is a US gold producer targeting projects with low operating costs, high margins and strong return on capital.

Of the company the strategy is to grow organically, remain debt-free and distribute substantial dividends.

Fortitude Gold’s The Nevada Mining Unit consists of seven high-grade gold properties in the Walker Lane Mineral Belt and an eighth high-grade gold property in west-central Nevada.

The Isabella Pearl the gold mine is currently in production and is located on the Isabella Pearl mineralization trend. Nevada is among the top mining-friendly jurisdictions in the world. The company recently announced that it has received all regulatory approvals and permits to mine deeper in its Isabella Pearl deposit.

Net global leasing

Global Net Lease is a real estate investment trust publicly traded on the New York Stock Exchange.

Off the radar and offering a whopping 12.42% dividend, it looks like a total return winner. Global Net Lease Inc. (NYSE: GNL) is a publicly traded real estate investment trust focused on acquiring a diversified global portfolio of commercial properties. It focuses on mission-critical, single-tenant sale-leaseback transactions that generate net-leasing income in the United States and Western and Northern Europe.

last month, the company announced continued progress in its strategic disposal plan for 2024, with the sale of The Plant Shopping Center in San Jose, California for $95 million and the Foster Wheeler office property in Shinfield Park, Reading, United Kingdom, for over 27 of millions of dollars. As of August 31, 2024, GNL has entered into or guaranteed disposition agreements totaling $854 million at a cash cap rate of 7.2%.

LNG owned the 366,000-square-foot Foster Wheeler Office property for nearly eight years and sold it when the tenant’s lease expired in mid-August after collecting 100 percent of the rent over the lease term. The sale of the property will further reduce LNG’s office exposure by approximately 100 basis points, reducing total office exposure to 19% of the portfolio’s total linear rent.

New York Mortgage Trust

New York Mortgage Trust is a domestically managed REIT that provides stable distributions in various economic conditions.

Although well known for many ultra-high yield investors, this solid company offers an 11.70 dividend and enormous upside potential. New York Mortgage Trust Inc. (NASDAQ: NYMT) acquires, invests in, finances and manages mortgage-related single-family and multifamily residential assets in the United States.

It is targeted investments include:

• Home loans, including business loans
• Structured investments in multifamily properties such as preferred equity
• Mezzanine loans to owners of multifamily properties
• Non-Agency Residential Mortgage Backed Securities (RMBS)
• RMBS agency
• Commercial Mortgage Backed Securities (CMBS)
• Single family rental properties and
• Other mortgages, residential housing and credit-related assets

Triple Point Venture Growth BDC

The goal of this BDC is total shareholder return, primarily in the form of current income and to a lesser extent capital appreciation.

This company looks like a potential takeover candidate and pays a whopping 16.6% dividend. Triple Point Venture Growth BDC Corp. (NYSE: TPVG) is a business development company specializing in investing in venture capital-backed companies at the investment stage.

The company provides debt financing to venture capital space companies, which include:

• Growth capital loans
• Guaranteed and personalized loans
• Equipment financing
• Revolving credits
• Direct equity investments

The fund is looking to invest in e-commerce, entertainment, technology and life sciences.

In technology, areas of interest include:

• Security, wireless communication equipment network system and software
• Business application software
• Conference equipment/services
• Big data, cloud computing and data storage,
• electronic
• Energy efficiency
• Hardware
• Information services, Internet and media, networking, semiconductors, software, software as a service and other technology-related subsectors

In the life sciences, areas of interest include:

• biotechnology,
• Biofuels/biomass
• Diagnostic Testing and Bioinformatics
• Delivery of medicines
• drug discovery,
• Health information systems
• Medical services
• Medical, surgical and therapeutic devices
• Pharmaceuticals and other life science related sub-sectors

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