The TSX today remains down by about 10% from 52-week highs. That leaves many stocks today at significantly low prices. Yet some are already starting to climb back up. That’s why we’re going to look at three stocks which you’ll be glad you picked up now, before they climb even more.
NorthWest REIT
NorthWest Healthcare Properties REIT (TSX:NWH.UN) jumped on Friday by 7%. This came after the vice president of a top real estate investment firm was bullish on NorthWest stock, sending it upwards. And for good reason.
Shares of NorthWest stock remain at or near all-time lows, and that’s certainly not where the stock belongs. The drop came as the company announced a joint venture between it and a United Kingdom firm fell through. This made the future of the company look uncertain. However, there’s far more going on with this stock.
NorthWest stock is a solid investment as it continues to have high occupancy rates around 96%. These occupancies average 14 years per lease agreement. Therefore, investors can look forward to long-term revenue continuing. So while shares remain at around a 12.5% dividend yield and depressed prices, it’s certainly a great time to pick it up.
TD stock
Another top choice these days is Toronto Dominion Bank (TSX: TD). TD stock fell as well this week as it reported earnings and net earnings down 8% and 2%, respectively, compared to 2022 levels. However, things got worse as it announced the United States anti-money laundering probe could lead to fines.
Not great news for present TD stock investors. However, again long term the stock has proven it can weather most storms. TD stock has been around for decades and expanded rapidly, including in the U.S. It’s now one of the top 10 banks in the country, and constantly looking for expansion opportunities.
Yet its core business of providing a diverse range of loan options, along with credit card partnerships and wealth management, has been quite lucrative. So while shares are down 15% from 52-week highs, it could be a great time to buy. Especially with a 4.6% dividend yield.
BlackBerry stock
Finally, BlackBerry (TSX: BB) shares exploded by 17% on Friday as private equity firm Veritas Capital made an offer to buy the software company. And it looks like it could be taken seriously. BlackBerry stock stated in May it was reviewing “strategic alternatives.” This could include splitting off its business.
After doing away with its smartphone business last year, it has since been selling its legacy patents. This has brought in about $1 billion lately. Now, the question is whether Veritas is looking to purchase these patents, or move more into the company’s autonomous car and cybersecurity sector.
As Veritas would be taking over the company, the latter looks more likely. Yet until it’s announced, investors have the opportunity to pick up the stock while still trading at just $7 per share, as of writing. And should the deal fall through, at the very least investors and institutions are likely far more interested in the stock than ever before.
