For investors who are looking to make a few small moves this spring, I believe there are some excellent options on the TSX right now. Here are the three stocks currently trading below the $25 mark that should be on the watch list of investors today.
WPT Industrial REIT
When it comes to income stocks, WPT Industrial REIT (TSX:WIR.U) has been one of my favorites for quite some time. After plummeting below the $10 level in March 2020, shares of this Toronto-based company have made a strong recovery. As of today, this stock is trading around the $16 mark. Nevertheless, I believe that WPT warrants a higher premium owing to its high-quality underlying assets and its ability to generate stable cash flow.
This company’s prudent business model represents its potential to overhaul all competition in the long term. Given where bond yields are right now, WPT’s dividend yield of nearly 5% is undoubtedly tempting for investors. Furthermore, this company’s payout ratio of approximately 30% is excellent for investors who are looking for a safe play in this sector.
Algonquin Power & Utilities
My top pick in the utilities sector has to be Algonquin Power & Utilities Corp. (TSX:AQN)(NYSE:AQN) today. Algonquin’s renewable energy portfolio is one of the primary reasons why I’ve been monitoring this stock for quite some time. It generates more than 30% of this company’s total revenue. Indeed, I like the long-term growth potential Algonquin’s renewables business provides relative to its peers.
The company’s effective growth-by-acquisition strategy has been instrumental in improving its cash flow position during these uncertain times. Thus, it has managed to increase its dividend yield continuously over time. This Oakville-based company currently trades around the $20 mark and has a dividend yield of close to 4%. I am convinced that this is an excellent option for investors who are looking for stability in the long term.
BlackBerry (TSX:BB)(NYSE:BB) announced in December last year that it has signed a deal with Amazon to develop an intelligent vehicle data platform known as BlackBerry IVY. This partnership is undoubtedly a big catalyst that represents a ton of upside for the company in the long term. Although its recent revenue figures have been dismal, there’s room for optimism today considering the potential of this collaboration.
Furthermore, I believe that company CEO John Chen has done an incredible job in making a shift from a hardware-focused business to a pure-place in the software space. I am convinced that this is an excellent option for investors who are interested in the technology sector as of today.
However, long-term growth investors will have to be patient with this stock.
Like these top picks? Here are a few more to consider right now:
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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends BlackBerry and BlackBerry and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon.