Every year, the top Wall Street firms release a list of their top stock picks for the coming 12 months, and typically, they are companies that the stock analysts have incredibly high conviction in. In addition, they often have good upside to the assigned price target and are bestowed with either a Buy or Overweight rating depending on the company providing the coverage.
At 24/7 Wall St., we like to cover these top stocks and then screen the companies looking for those paying the highest dividends to investors, as this can increase the total return potential for investors.
We always like to remind our readers about the impact total return has on portfolios because it is one of the best ways to help improve the chances for overall investing success. Again, total return is the combined increase in a stock’s value plus dividends. For instance, if you buy a stock at $20 that pays a 3% dividend, and it goes up to $22 in a year, your total return is 13%—10% for the increase in stock price and 3% for the dividends paid.
We screened the 20 top Analysts Best stock picks for 2024 from Raymond James, a top Wall Street firm, and found five companies that are the favorite 2024 picks that also pay dependable dividends. All are rated Buy.
Agree Realty
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This top REIT has had a solid run off the lows printed last year and still has big potential upside and pays a 4.70% dividend. Agree Realty Corporation (NYSE: ADC) focuses on the ownership, development, acquisition, and management of retail properties net leased to national tenants. It specializes in acquiring and developing net-leased retail properties for retail tenants.
Agree Realty specializes in acquiring and developing properties net leased to industry-leading, omnichannel retail tenants.
As of September 30, 2023, the Company owned and operated a portfolio of 2,084 properties in 49 states containing approximately 543.1 million square feet of gross leasable area.
Copa Holdings
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This top airline pays a hefty 6.50% dividend and offers very serious upside. Copa Holdings S.A. (NYSE: CPA) provides airline passenger and cargo services through its subsidiaries.
The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub.
As of December 31, 2022, it operated a fleet of 97 aircraft comprising:
- 67 Boeing 737-800 Next Generation aircraft
- 9 Boeing 737-700 Next Generation aircraft
- 1 Boeing 737-800 Boeing Converted Freighter
- 20 737-MAX aircraft
T-Mobile
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This top telecom stock is one of the fastest-growing companies in the sector and pays a 0.80% dividend. T-MobileUS, Inc. (NASDAQ: TMUS) provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands.
The company offers customers voice, messaging, and data services in postpaid, prepaid, wholesale, and other services.
It also provides
- Wireless devices, including smartphones, wearables, tablets, home broadband routers, and other mobile communication devices, as well as wireless devices and accessories
- Financing through equipment installment plans
- Reinsurance for device insurance policies and extended warranty contracts
- Leasing through JUMP! On-Demand; and High-Speed Internet services.
In addition, the company offers services, devices, and accessories under the T-Mobile and Metro by T-Mobile brands through its owned and operated retail stores, T-Mobile app and customer care channels, and its websites.
It also sells its devices to dealers and other third-party distributors for resale through independent third-party retail outlets and various third-party websites.
The Travelers Companies
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This is a legacy insurance giant with a solid 1.86% dividend. The Travelers Companies, Inc. (NYSE: TRV) provides commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally.
It operates through three segments:
- Business Insurance
- Bond & Specialty Insurance
- Personal Insurance
The Business Insurance segment offers:
- Workers’ compensation
- Commercial automobile and property
- General liability
- Commercial multi-peril
- Employers’ liability
- Public and product liability
- Professional indemnity
- Marine, aviation, onshore and offshore energy
- Construction, terrorism, personal accident, and kidnap and ransom insurance products
This segment operates through select accounts which serve small businesses;
- Commercial accounts that serve mid-sized businesses
- National accounts, which serve large companies
- National property and others that serve large and mid-sized customers
- Commercial trucking industry
- Agricultural companies
- Markets and distributes its products through brokers, wholesale agents, and program managers.
The Bond & Specialty Insurance segment provides surety, fidelity, management, professional liability, other property and casualty coverages, and related risk management services through independent agencies and brokers.
The Personal Insurance segment offers property and casualty insurance covering personal risks, primarily automobile and homeowners’ insurance, to individuals through independent agencies and brokers.
Wells Fargo
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This large-cap bank is a big money center benefiting from higher net interest income that pays a 2.94% dividend. Wells Fargo & Company (NYSE: WFC) is a diversified financial services company that provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally.
It operates through four segments:
- Consumer Banking and Lending
- Commercial Banking
- Corporate and Investment Banking
- Wealth and Investment Management
The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include:
- Checking and savings accounts
- Credit and debit cards
- home, auto, personal, and small business lending services
The Commercial Banking segment provides financial solutions to private, family-owned, and specific public companies. Its products and services include:
- Banking and credit products across various industry sectors and municipalities
- Secured lending and lease products
- Treasury management services.
The Corporate and Investment Banking segment offers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government, and institutional clients. Its products and services comprise:
- Corporate banking
- Investment banking
- Treasury management
- Commercial real estate lending and servicing
- Equity and fixed-income solutions, and sales
- Trading, and research capabilities services
The Wealth and Investment Management provides:
- Personalized wealth management
- Brokerage
- Financial planning
- Lending
- Private banking
- Trust and fiduciary products and services to affluent, high-net-worth, and ultra-high-net-worth clients
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