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3 High-Forward Dividend Yield Companies

As of Friday, the following securities were granting a forward dividend yield that more than doubled the S&P 500 Index's yield of 1.97%. As a result, dividend investors may want to consider taking a position in them.

The first company is National Australia Bank Ltd. (NABZY). The shares closed at $9.13 for a market capitalization of $51.74 billion on Friday. The stock has a forward dividend yield of 6.38% versus the industry median of 3.31%.

On July 7, the bank paid a semi-annual dividend of 29.1 cents per common share.

The stock has gained 7.41% so far this year. It is trading below the 100- and 50-day simple moving average lines.

The 52-week range is $7.84 to $10.43.

The 14-day relative strength index of 37 suggests the stock is near oversold levels.

The stock has a price-book ratio of 1.38 versus the industry median of 1 and a price-sales ratio of 4.41 compared to the industry median of 2.79.

GuruFocus assigned a rating of 4 out of 10 for the company's financial strength and 2 out of 10 for its profitability and growth.

Wall Street set an overweight recommendation rating for shares of National Australia Bank and established an average price target of $9.33 per share, reflecting a 2.2% increase from the closing price on Friday.

The second company is Sunoco LP (NYSE:SUN). The shares closed at $30.86 on Friday for a market capitalization of approximately $2.55 billion. The forward dividend yield is 10.7% versus an industry median of 4.3%.

On Aug. 14, the Dallas-based motor fuels distributor and retailer paid a quarterly dividend of 82.6 cents per share.

The stock has climbed 13.5% so far this year to close on Friday below the 100- and 50-day simple moving average lines.

The 52-week range is $23.8 to $34.09.

The 14-day relative strength index of 42 suggests the stock is neither oversold nor overbought.

The stock has a price-book ratio of 3.31 versus the industry median of 1.09 and a price-sales ratio of 0.15 versus the industry median of 0.26.

GuruFocus assigned a financial strength rating of 4.5 out of 10 and a profitability and growth rating of 4 out of 10.

Wall Street issued a hold recommendation rating for shares of Sunoco and set an average target price of $32.27. The average target price implies 4.6% upside from Friday's closing price.

The third company is Macerich Co. (NYSE:MAC). On Friday, the stock closed at $27.88 per share with a market capitalization of $3.94 billion.

The stock has a forward dividend yield of 10.76% versus the industry median of 5.33%.

Currently, the California-based real estate investment trust pays a quarterly dividend of 75 cents per common share. The next dividend will be distributed on Sept. 6 to shareholders of record as of Aug. 19.

The stock has fallen 36% so far this year to below the 100- and 50-day simple moving average lines.

The 52-week range is $27.67 to $59.2 per share.

The 14-day relative strength index of 28 suggests the stock is oversold.

The stock has a price-book ratio of 1.43 versus the industry median of 1.14 and a price-sales ratio of 4.17 compared to the industry median of 7.5.

GuruFocus assigned a rating of 4 out of 10 for the company's financial strength and a rating of 6 out of 10 for its profitability and growth.

Wall Street recommends a hold rating for shares of Macerich and set an average price target of $39.19 per share, representing 40% upside from Friday's closing price.

Disclosure: I have no positions in any securities mentioned.

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This article first appeared on GuruFocus.