Last Friday, Canada’s Rogers Communications extended the deadline for its $20 billion (Canadian currency) merger with Shaw Communications for the fourth time to March 31 as the companies await the final nod from industry minister Francois-Philippe Champagne. The deal was expected to close on Feb. 17, following a successful end to the long-drawn battle with the competition bureau for approval.
Shareholders receive a 3.04% dividend. The $32 Canaccord Genuity target price compares with the $30.24 consensus target and the most recent close at $29.14.
STAG Industrial
This strong industrial REIT play offers solid upside potential. STAG Industrial Inc. (NYSE: STAG) is a self-managed full-service real estate company primarily focused on the acquisition, ownership and management of single-tenant, Class B warehouses in secondary markets across the United States. The company continues to focus on expansion of its acquisition platform to find acquisitions to grow the portfolio.
Top Wall Street analysts expect management to be aggressive acquirers over time. Additionally, the in-place portfolio should deliver stable organic growth supported by healthy property-level fundamentals.
This one includes a 4.15% distribution. The BMO Capital Markets price objective is $41. The consensus target is $41.77, and STAG Industrial stock was last seen trading at $35.46.
TransAlta Renewables
This off-the-radar stock from Canada could be a side pocket huge winner for more aggressive investors. TransAlta Renewables trades over the counter and is among the largest of any publicly traded renewable independent power producers in Canada.
The company’s asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 26 wind facilities, 11 hydroelectric facilities, eight natural gas generation facilities, two solar facilities, one natural gas pipeline and one battery storage project, representing an ownership interest of 2,965 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec and New Brunswick; the states of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington and North Carolina; and the State of Western Australia.
Investors enjoy a 7.85% dividend. The Raymond James price target in U.S. dollars is $12.25, and the stock last closed at $8.94 a share.
These seven top stocks are way off the highs printed over the past year, and these companies have paid dependable dividends for years. For those looking for monthly passive income, these are outstanding companies to own. It should be noted that while the rally since the beginning of the year has been stellar, the prospects for the rest of February and beyond look cloudy, so it may make sense to scale buy shares over the next few months.
Originally published at 24/7 Wall St.
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