Stocks moved off of mid-week lows, helped higher by better-than-expected earnings from big technology outfits, observes John Dobosz, income expert and editor of Forbes Dividend Investor.
Optimism was also aided by the first estimate of third-quarter GDP coming in at an annualized pace of 3.0%, far above forecasts for 2.5%. Meanwhile, we’ve added three new stocks to our model portfolio:
Steelcase (SCS)
Founded in 1912, Grand Rapids, Mich.-based Steelcase designs and sells furniture and interior architectural design products, with its main emphasis is on seating. You may be seated in one of Steelcase’s desk chairs, called “task” chairs, right now.
Its family of brands includes Steelcase, Coalesse, Designtex, PolyVision and Turnstone.quarter financial results. Revenues are rising and valuations lean versus five-year averages for most multiples used to determine value.
Emera (EMA:CA)
Based in Halifax, Nova Scotia (Canada), Emera conducts electricity generation, transmission and distribution across borders, through subsidiaries in Newfoundland, Nova Scotia, Labrador, Maine, Barbados, the Bahamas, New Mexico, and Tampa, Fla.
Although dividends rise and fall with the exchange rate between Canadian and U.S. dollars, Emera’s quarterly payout has grown 33% over the past five years. The stock provides a yield of 4.8%. Emera trades at multiples significantly lower than they have been over the past five years, even as revenues are steadily rising.
Tanger Factory Outlet (SKT)
It’s no secret that mall traffic is weak as more and more shoppers elect to buy online instead of waiting in lines, but there are people who make a point of going to outlet stores to score bargains.
More than 188 million a year visit Tanger’s 43 outlet centers in 22 states, and in Canada. Tanger’s revenues have continued to rise throughout the retail apocalypse, while its valuations are steeply discounted from five-year averages. The stock yields 5.9%.
John Dobosz is editor of Forbes Dividend Investor.
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