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Take a lesson from this income stock “massacre”…
StoneMor Partners is a giant U.S. cemetery and funeral home conglomerate. At the start of last week, it yielded over 6%. That’s “high yield” in a world of 0% (and negative) interest rates.
But here’s the danger of “chasing yield” today. On Friday, StoneMor announced a massive cut to its dividend payout. That sent shares tumbling over 43% in one day… and obliterated anyone overweight the stock.
In today’s instructive 3-Minute Market Minder, The Palm Beach Letter’s Teeka Tiwari reveals the exact statistics he focuses on when researching potential income stocks. They ensure “high yield” remains “safe yield” for PBRG subscribers…