Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer

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 "Hold."

Columbia Property

Dividend Yield: 4.50%

Columbia Property

(NYSE:

CXP

) shares currently have a dividend yield of 4.50%.

Columbia Property Trust, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It focuses on investing in and managing high-quality commercial office properties. The firm was formerly known as Wells Real Estate Investment Trust II Inc. The company has a P/E ratio of 35.09.

The average volume for Columbia Property has been 638,100 shares per day over the past 30 days. Columbia Property has a market cap of $3.3 billion and is part of the real estate industry. Shares are up 8.7% year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates

Columbia Property

as a

hold

. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we find that the company's profit margins have been poor overall.

Highlights from the ratings report include:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Real Estate Investment Trusts (REITs) industry. The net income increased by 334.9% when compared to the same quarter one year prior, rising from $12.93 million to $56.23 million.
  • CXP, with its decline in revenue, underperformed when compared the industry average of 10.1%. Since the same quarter one year prior, revenues slightly dropped by 0.2%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • 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 Real Estate Investment Trusts (REITs) industry and the overall market on the basis of return on equity, COLUMBIA PROPERTY TRUST INC underperformed against that of the industry average and is significantly less than that of the S&P 500.
  • The gross profit margin for COLUMBIA PROPERTY TRUST INC is currently extremely low, coming in at 14.48%. It has decreased significantly from the same period last year. Regardless of the weak results of the gross profit margin, the net profit margin of 40.23% is above that of the industry average.

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Enerplus

Dividend Yield: 9.00%

Enerplus

(NYSE:

ERF

) shares currently have a dividend yield of 9.00%.

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company has a P/E ratio of 7.77.

The average volume for Enerplus has been 1,487,300 shares per day over the past 30 days. Enerplus has a market cap of $2.0 billion and is part of the energy industry. Shares are up 2.9% year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates

Enerplus

as a

hold

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.

Highlights from the ratings report include:

  • The revenue growth greatly exceeded the industry average of 19.6%. Since the same quarter one year prior, revenues rose by 37.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • ENERPLUS CORP reported significant earnings per share improvement 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. During the past fiscal year, ENERPLUS CORP increased its bottom line by earning $1.43 versus $0.23 in the prior year.
  • The current debt-to-equity ratio, 0.51, is low and is below the industry average, implying that there has been successful management of debt levels. Even though the company has a strong debt-to-equity ratio, the quick ratio of 0.38 is very weak and demonstrates a lack of ability to pay short-term obligations.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, ENERPLUS CORP's return on equity is significantly below that of the industry average and is below that of the S&P 500.
  • ERF's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 49.13%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.

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Ramco-Gershenson Properties

Dividend Yield: 4.20%

Ramco-Gershenson Properties

(NYSE:

RPT

) shares currently have a dividend yield of 4.20%.

Ramco-Gershenson Properties Trust, through its subsidiaries, operates as a real estate investment trust (REIT) in the United States. It engages in the ownership, development, acquisition, management, and leasing of community shopping centers, regional malls, and single tenant retail properties.

The average volume for Ramco-Gershenson Properties has been 525,900 shares per day over the past 30 days. Ramco-Gershenson Properties has a market cap of $1.5 billion and is part of the real estate industry. Shares are up 3% year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates

Ramco-Gershenson Properties

as a

hold

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 10.1%. Since the same quarter one year prior, revenues rose by 32.2%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Net operating cash flow has significantly increased by 69.76% to $32.98 million when compared to the same quarter last year. In addition, RAMCO-GERSHENSON PROPERTIES has also vastly surpassed the industry average cash flow growth rate of 11.97%.
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period, despite the company's weak earnings results. Looking ahead, our view is that this company's fundamentals will not have much impact in either direction, allowing the stock to generally move up or down based on the push and pull of the broad market.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Real Estate Investment Trusts (REITs) industry. The net income has significantly decreased by 137.6% when compared to the same quarter one year ago, falling from -$5.14 million to -$12.21 million.
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, RAMCO-GERSHENSON PROPERTIES's return on equity significantly trails that of both the industry average and the S&P 500.

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