Verizon Communications
This top telecommunications company offers tremendous value and passive income at current levels. Verizon Communications Inc. (NYSE: VZ) is one of the largest U.S. telecom companies. It provides wireless and wireline service to retail, enterprise and wholesale customers.
The company’s wireless network serves approximately 120 million mobile connections with 115 million postpaid subscribers. Its wireline business has undergone a period of secular decline due to wireless substitution and cable competition.
Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and it delivers integrated business solutions to customers worldwide.
Shareholders receive a 6.92% dividend. Cowen has a $55 target price, well above the $45.30 consensus target. Verizon Communications stock ended Wednesday trading at $37.88.
Vornado Realty Trust
Sporting a sizable dividend and offering investors a great inflation-hedging real estate play, this top stock is an incredible buy now. The Vornado Realty Trust (NYSE: VNO) portfolio is concentrated in the nation’s key market New York City, along with additional premier assets in both Chicago and San Francisco. It is the real estate industry leader in sustainability policy, owning and managing over 23 million square feet of LEED-certified buildings.
Vornado posted very solid third-quarter results on lower operating expenses, higher fee income and other income, partially offset by lower reimbursement and rental revenues. While the company does not provide guidance, management maintained its outlook for costs and yields on its development projects. It was an active quarter for financing activity. Vornado entered into $2 billion of interest rate
swaps for the year and extended its $500 million swap. It also reduced its float rate debt exposure to 27% from 47%.
An 8.44% distribution comes with holding Vornado Realty Trust stock. The Truist Financial target price is $33. The consensus target is $25.82. The shares closed on Wednesday at $24.26.
These eight top stocks are, for a variety of reasons, trading incredibly cheap and offering investors timely entry points. However, it still may be very prudent to start with buying partial positions, as the market has a plethora of issues to deal with and has had the tailwind from a bear market rally for the past few weeks.
Originally published at 24/7 Wall St.
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