Growth stocks are all the rage these days and for good reason. The iShares Core S&P 500 U.S. Growth ETF (IUSG), which can be seen as a benchmark for growth-oriented stocks, has delivered a year-to-date return of 13.6%. In comparison, the S&P 500 is up just 0.5% over this period…
A good way to find growth stocks that have a high potential for upside is to look at lesser known stocks that are on the verge of breaking out in the coming years. In addition to growth, investors should also consider a company’s dividend income prospects given the expectations of the continuation of economic uncertainties and market volatility for the foreseeable future.
Stocks providing high dividend yields and possessing solid growth features are a winning pair. Innovative Industrial Properties, Inc. (IIPR), Medifast, Inc. (MED), and China Distance Holdings Limited (DL) are three such stocks to consider.
Innovative Industrial Properties, Inc. (IIPR)
IIPR owns and leases out dedicated industrial-use real estate properties. IIPR focuses on the development and construction of specialized facilities for use in the regulated cannabis-growing industry in the United States. IIPR’s stock has gained 57.3% year-to-date.
IIPR is looking to expand quickly by acquiring and developing new properties, such as the north Detroit property which it has recently bought. The company also acquired a Florida property and expanded its partnership with Parallel, a US-based cannabis company.
The company has declared a third quarter dividend of $1.17 per common share, which is an increase of 10% from their second quarter dividend. The company has been delivering an annual dividend of $4.2 which translates into a yield of 3.6%.
The company’s revenue is expected to grow 146% this year and 76.3% next year. The company’s EPS is estimated to rise 60.1% this year and 63.7% next year.
How does IIPR stack up for the POWR Ratings?
A for Trade Grade
B for Buy & Hold Grade
A for Peer Grade
B for Industry Grade
A for Overall POWR Rating
The stock is also ranked #7 out of 21 stocks in the REITs – Industrial industry.
Medifast, Inc. (MED)
MED develops and markets weight-loss and weight-management products and programs. The company’s OPTAVIA is one of the fastest growing health and wellness communities in the United States. MED’s stock has delivered returns of 50% so far this year.
The company has been focusing on driving growth through OPTAVIA coaching programs. MED recently hosted the successful OPTAVIA Together Live broadcast event, which replaced its traditional in-person conventions. In the second quarter, revenue for the company…
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