The TSX today has many opportunities for discounted stocks. But some of the easiest wins are analyst recommended stocks at 52-week lows. So, let’s get right into it. Here are the three TSX stocks at 52-week lows I’d buy before any other.
Clean energy producing stocks and those in the green energy sector aren’t doing so great right now. Yet that’s exactly why some of us may want to consider this area. After all, clean energy isn’t just the future, it’s right now.
As the world over continues investing in clean energy-producing companies, Northland Power (TSX:NPI) is looking like a better and better option. It continues to have diversified assets including offshore wind farms, and hydro electricity to name just a few.
Yet as earnings fell during this tough year, so too did Northland Power stock. Shares are down at 52-week lows, down 25% in the last year. However, this means you can bring in a dividend yield at 4.34% as of writing, offering monthly passive income at that! Meanwhile, this could be a strong long-term choice, with shares still up 55% in the last decade alone.
Another of the TSX stocks I would consider is SmartCentres REIT (TSX:SRU.UN), which is, again, a diversified stock that investors seem to have forgotten about. In fact, analysts continue to recommend SmartCentres REIT as a buy, and shares continue to slump lower and lower.
SmartCentres stock is likely suffering from the higher interest rate and inflation, as a company that invests in retail companies as well as industrial and retirement communities. Yet it’s this diversified set of revenue that has kept the company strong.
You can now pick it up at 52-week lows, with shares down 9% in the last year, and 7% year to date. You can therefore pick up a 7.36% dividend yield as of writing, while it trades at 13.86 times earnings.
Slate Office REIT
Finally, we have Slate Office REIT (TSX:SOT.UN), another company that likely doesn’t deserve its status as a 52-week low stock — especially given its tenants on board. Not only does the company benefit from office buildings in North America and Europe, most of its tenants are government and high-quality credit tenants. Therefore, you don’t have to worry about cancelled contracts.
Of course, this also means that when costs go up, there isn’t going to be a lot of turnover at higher rates. So, there has certainly been some growing pains as the company adjusts to inflation and interest rates. Even so, the recent drop was drastic. Slate stock is now down 57% in the last year, plunging after earnings.
The stock is sure to recover, even if only slightly, making now the time to get in rather than before the drop. You can therefore bring in a dividend yield currently at 6% and look forward to strong passive income at a great price. That’s certainly reason enough to pick it up at this price while you wait for an eventual recovery.