TheStreet Ratings' stock model projects a stock's total return potential over a 12-month period including both price appreciation and dividends. Our Buy, Hold or Sell ratings designate how we expect these stocks to perform against a general benchmark of the equities market and interest rates.

While plenty of high-yield opportunities exist, investors must always consider the safety of their dividend and the total return potential of their investment. It is not uncommon for a struggling company to suspend high-yielding dividends which could subsequently result in precipitous share price declines.

TheStreet Ratings' stock rating model views dividends favorably, but not so much that other factors are disregarded. Our model gauges the relationship between risk and reward in several ways, including: the pricing drawdown as compared to potential profit volatility, i.e. how much one is willing to risk in order to earn profits?; the level of acceptable volatility for highly performing stocks; the current valuation as compared to projected earnings growth; and the financial strength of the underlying company as compared to its stock's valuation as compared to its stock's performance.

These and many more derived observations are then combined, ranked, weighted, and scenario-tested to create a more complete analysis. The result is a systematic and disciplined method of selecting stocks. As always, stock ratings should not be treated as gospel — rather, use them as a starting point for your own research.

The following pages contain our analysis of 3 stocks with substantial yields, that ultimately, we have rated "Buy."

New York Community Bancorp

Dividend Yield: 6.30%

New York Community Bancorp

(NYSE:

NYCB

) shares currently have a dividend yield of 6.30%.

New York Community Bancorp, Inc. operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in New York, New Jersey, Florida, Ohio, and Arizona. The company has a P/E ratio of 14.61.

The average volume for New York Community Bancorp has been 5,749,900 shares per day over the past 30 days. New York Community Bancorp has a market cap of $7.7 billion and is part of the banking industry. Shares are down 1.8% year-to-date as of the close of trading on Tuesday.

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TheStreet Ratings rates

New York Community Bancorp

as a

buy

. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • The gross profit margin for NEW YORK CMNTY BANCORP INC is currently very high, coming in at 71.79%. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 25.25% trails the industry average.
  • After a year of stock price fluctuations, the net result is that NYCB's price has not changed very much. Although its weak earnings growth may have played a role in this flat result, don't lose sight of the fact that the performance of the overall market, as measured by the S&P 500 Index, was essentially similar. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • Despite the weak revenue results, NYCB has outperformed against the industry average of 15.4%. Since the same quarter one year prior, revenues slightly dropped by 3.0%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
  • NEW YORK CMNTY BANCORP INC' earnings per share from the most recent quarter came in slightly below the year earlier quarter. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, NEW YORK CMNTY BANCORP INC increased its bottom line by earning $1.10 versus $1.08 in the prior year. For the next year, the market is expecting a contraction of 1.8% in earnings ($1.08 versus $1.10).
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. When compared to other companies in the Thrifts & Mortgage Finance industry and the overall market, NEW YORK CMNTY BANCORP INC's return on equity is below that of both the industry average and the S&P 500.

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Crown Castle International

Dividend Yield: 4.10%

Crown Castle International

(NYSE:

CCI

) shares currently have a dividend yield of 4.10%.

Crown Castle International Corp., together with its subsidiaries, owns, operates, and leases shared wireless infrastructure in the United States and Australia. The company has a P/E ratio of 55.45.

The average volume for Crown Castle International has been 1,981,500 shares per day over the past 30 days. Crown Castle International has a market cap of $28.5 billion and is part of the telecommunications industry. Shares are up 0.8% year-to-date as of the close of trading on Tuesday.

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TheStreet Ratings rates

Crown Castle International

as a

buy

. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, expanding profit margins, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:

  • CROWN CASTLE INTL CORP has improved earnings per share by 7.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, CROWN CASTLE INTL CORP increased its bottom line by earning $0.96 versus $0.28 in the prior year. This year, the market expects an improvement in earnings ($4.35 versus $0.96).
  • Despite its growing revenue, the company underperformed as compared with the industry average of 6.1%. Since the same quarter one year prior, revenues slightly increased by 2.8%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The gross profit margin for CROWN CASTLE INTL CORP is rather high; currently it is at 63.64%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, CCI's net profit margin of 11.30% significantly trails the industry average.
  • The stock has not only risen over the past year, it has done so at a faster pace than the S&P 500, reflecting the earnings growth and other positive factors similar to those we have cited here. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. When compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, CROWN CASTLE INTL CORP's return on equity is below that of both the industry average and the S&P 500.

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Buckeye Partners

Dividend Yield: 7.10%

Buckeye Partners

(NYSE:

BPL

) shares currently have a dividend yield of 7.10%.

Buckeye Partners, L.P. owns and operates liquid petroleum products pipeline systems in the United States. The company operates through four segments: Pipelines & Terminals, Global Marine Terminals, Merchant Services, and Development & Logistics. The company has a P/E ratio of 22.99.

The average volume for Buckeye Partners has been 773,600 shares per day over the past 30 days. Buckeye Partners has a market cap of $8.5 billion and is part of the energy industry. Shares are up 0.1% year-to-date as of the close of trading on Tuesday.

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TheStreet Ratings rates

Buckeye Partners

as a

buy

. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • Net operating cash flow has increased to $210.83 million or 31.57% when compared to the same quarter last year. In addition, BUCKEYE PARTNERS LP has also vastly surpassed the industry average cash flow growth rate of -26.85%.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market on the basis of return on equity, BUCKEYE PARTNERS LP has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • The gross profit margin for BUCKEYE PARTNERS LP is currently lower than what is desirable, coming in at 30.24%. Despite the low profit margin, it has increased significantly from the same period last year. Despite the mixed results of the gross profit margin, BPL's net profit margin of 13.73% significantly outperformed against the industry.
  • BUCKEYE PARTNERS LP's earnings per share declined by 12.4% in the most recent quarter compared to the same quarter a year ago. The company has suffered a declining pattern of earnings per share over the past year. However, we anticipate this trend reversing over the coming year. During the past fiscal year, BUCKEYE PARTNERS LP reported lower earnings of $2.79 versus $3.23 in the prior year. This year, the market expects an improvement in earnings ($3.37 versus $2.79).
  • Along with the very weak revenue results, BPL underperformed when compared to the industry average of 36.8%. Since the same quarter one year prior, revenues plummeted by 53.7%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.

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