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: 4.80%

Columbia Property

(NYSE:

CXP

) shares currently have a dividend yield of 4.80%.

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 32.73.

The average volume for Columbia Property has been 903,100 shares per day over the past 30 days. Columbia Property has a market cap of $3.2 billion and is part of the real estate industry. Shares are down 0.9% year-to-date as of the close of trading on Monday.

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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 revenue growth, compelling growth in net income and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, poor profit margins and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:

  • CXP's revenue growth has slightly outpaced the industry average of 8.6%. Since the same quarter one year prior, revenues rose by 14.0%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • COLUMBIA PROPERTY TRUST INC has improved earnings per share by 33.3% 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. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, COLUMBIA PROPERTY TRUST INC increased its bottom line by earning $0.76 versus $0.21 in the prior year. For the next year, the market is expecting a contraction of 77.0% in earnings ($0.18 versus $0.76).
  • The gross profit margin for COLUMBIA PROPERTY TRUST INC is rather low; currently it is at 18.32%. Regardless of CXP's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, CXP's net profit margin of 3.74% is significantly lower than the industry average.
  • Net operating cash flow has decreased to $44.53 million or 22.94% when compared to the same quarter last year. In addition, when comparing the cash generation rate to the industry average, the firm's growth is significantly lower.

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Excel

Dividend Yield: 4.50%

Excel

(NYSE:

EXL

) shares currently have a dividend yield of 4.50%.

Excel Trust, Inc. engages in financing, developing, leasing, owning and managing community and power centers, grocery anchored neighborhood centers and freestanding retail properties. The company was founded in 2009 and is based in San Diego, California. The company has a P/E ratio of 71.95.

The average volume for Excel has been 727,500 shares per day over the past 30 days. Excel has a market cap of $1.0 billion and is part of the real estate industry. Shares are up 18.1% year-to-date as of the close of trading on Monday.

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TheStreet Ratings rates

Excel

as a

hold

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income 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 revenue growth came in higher than the industry average of 8.6%. Since the same quarter one year prior, revenues rose by 32.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • 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 811.8% when compared to the same quarter one year prior, rising from $2.20 million to $20.01 million.
  • 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. Although other factors naturally played a role, the company's strong earnings growth was key. We feel that the combination of its price rise over the last year and its current price-to-earnings ratio relative to its industry tend to reduce its upside potential.
  • 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, EXCEL 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 EXCEL TRUST INC is rather low; currently it is at 20.36%. It has decreased from the same quarter the previous year. Despite the weak results of the gross profit margin, the net profit margin of 49.20% has significantly outperformed against the industry average.

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Tenaris

Dividend Yield: 4.70%

Tenaris

(NYSE:

TS

) shares currently have a dividend yield of 4.70%.

Tenaris S.A., through its subsidiaries, manufactures and supplies steel pipe products and related services for the energy and other industrial applications. The company has a P/E ratio of 11.10.

The average volume for Tenaris has been 1,797,500 shares per day over the past 30 days. Tenaris has a market cap of $14.9 billion and is part of the metals & mining industry. Shares are down 17.4% year-to-date as of the close of trading on Monday.

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TheStreet Ratings rates

Tenaris

as a

hold

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, disappointing return on equity and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:

  • TS's debt-to-equity ratio is very low at 0.09 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, TS has a quick ratio of 1.84, which demonstrates the ability of the company to cover short-term liquidity needs.
  • Net operating cash flow has increased to $877.89 million or 43.48% when compared to the same quarter last year. In addition, TENARIS SA has also vastly surpassed the industry average cash flow growth rate of -8.29%.
  • 40.26% is the gross profit margin for TENARIS SA which we consider to be strong. Regardless of TS's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, TS's net profit margin of 9.86% compares favorably to the industry average.
  • TENARIS SA's earnings per share declined by 47.2% in the most recent quarter compared to the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, TENARIS SA reported lower earnings of $1.97 versus $2.63 in the prior year. For the next year, the market is expecting a contraction of 33.5% in earnings ($1.31 versus $1.97).
  • 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. In comparison to the other companies in the Energy Equipment & Services industry and the overall market, TENARIS SA's return on equity is significantly below that of the industry average and is below that of the S&P 500.

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