3 Top High-Yield Stocks to Buy Before 2024 Is Over

As the year winds down, investors are on the hunt for high-yield stocks that can provide both current income and long-term growth. With interest rates expected to decrease, high-yield dividend stocks could be poised for a significant rally. Here are three standout high-yield dividend stocks that deserve a closer look, offering attractive yields, conservative payout ratios, and solid fundamentals.



1. Crown Castle (CCI) - Yield: 6.3%
Crown Castle is a leading provider of data infrastructure, focusing on cell towers, small cells, and fiber solutions. The company's dividend yield of 6.3% is enticing, but it has faced headwinds in recent years due to higher interest rates and tenant issues. However, Crown Castle is navigating these challenges and positioning itself for future growth. The company expects its adjusted funds from operations (FFO) to decline by about 8% this year, but it is taking steps to boost cash flow and returns, such as shifting its focus to higher-returning capital projects and launching a strategic review of its fiber business. As CEO Steven Moskowitz stated, Crown Castle remains optimistic about the long-term value creation opportunities in its tower, small cell, and fiber solutions. With the U.S. generating record annual increases in data consumption, the demand for communications infrastructure should drive Crown Castle's growth in the future.

2. EPR Properties (EPR) - Yield: 8.0%
EPR Properties is a specialty real estate investment trust (REIT) focused on experiential real estate, such as movie theaters and attractions. The company's dividend yield of 8.0% is one of the highest among REITs, but it has faced pandemic-related headwinds in recent years. Many of EPR's tenants were unable to operate during the pandemic, leading to lasting effects on their financials and ultimately resulting in a temporary suspension of the dividend. However, EPR has rebounded and is now generating stable cash flow to fund its dividend with room to spare. The company is on track to invest $225 million to $275 million this year in new experiential properties, which will grow its rental income and support dividend increases. EPR's current investment rate is enough to grow its FFO per share by around 3% to 4% per year, which should continue supporting a similar growth rate in its dividend. As interest rates fall, there is ample upside to EPR's investment plan, making it an attractive choice for income-seeking investors.

3. W. P. Carey (WPC) - Yield: 6.3%
W. P. Carey is a diversified REIT that has paid a dividend every year since 1998. The company's dividend yield of 6.3% is attractive, but it made a strategic decision to exit the office sector by selling and spinning off those properties. This move, along with a dividend reset, has positioned W. P. Carey for future growth. The REIT is on track to invest about $1.5 billion into new properties this year, mainly focusing on industrial real estate and retail. W. P. Carey targets operationally critical properties secured by long-term net leases with clauses that escalate rents at either a fixed rate or one tied to inflation. The company's financial flexibility should enable it to continue acquiring properties in the future, driving rental income growth and supporting dividend growth. W. P. Carey has already raised its payout a few times this year since the reset, and this trend is likely to continue in the coming years.


These three high-yield dividend stocks offer a compelling mix of current income and long-term growth potential. Crown Castle provides exposure to the growing demand for data infrastructure, EPR Properties offers a unique play on experiential real estate, and W. P. Carey delivers a diversified portfolio with a focus on industrial real estate and retail. As interest rates potentially trend downward later this year, these stocks could see increased attention from income investors. Their combinations of attractive yields, conservative payout ratios, and solid fundamentals position them well for both income generation and potential capital appreciation in the current market environment.