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 or Stephanie Link.

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."

Fly Leasing

Dividend Yield: 8.10%

Fly Leasing (NYSE: FLY) shares currently have a dividend yield of 8.10%.

FLY Leasing Limited, together with its subsidiaries, is engaged in purchasing and leasing commercial aircraft under multi-year contracts to various airlines worldwide. As of September 2, 2014, it operated a fleet of 122 commercial jet aircraft. The company has a P/E ratio of 38.34.

The average volume for Fly Leasing has been 150,300 shares per day over the past 30 days. Fly Leasing has a market cap of $508.4 million and is part of the diversified services industry. Shares are down 22.3% year-to-date as of the close of trading on Thursday.

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TheStreet Ratings rates Fly Leasing as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, disappointing return on equity and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:
  • FLY's revenue growth has slightly outpaced the industry average of 0.8%. Since the same quarter one year prior, revenues slightly increased by 1.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The debt-to-equity ratio is very high at 3.26 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company.
  • 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 Trading Companies & Distributors industry and the overall market, FLY LEASING LTD -ADR'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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Mid-Con Energy Partners

Dividend Yield: 9.40%

Mid-Con Energy Partners (NASDAQ: MCEP) shares currently have a dividend yield of 9.40%.

Mid-Con Energy Partners, LP is engaged in the acquisition, exploitation, development, and production of oil and natural gas properties in North America. The company has a P/E ratio of 23.08.

The average volume for Mid-Con Energy Partners has been 76,900 shares per day over the past 30 days. Mid-Con Energy Partners has a market cap of $463.3 million and is part of the energy industry. Shares are down 4.6% year-to-date as of the close of trading on Thursday.

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TheStreet Ratings rates Mid-Con Energy Partners as a hold. Among the primary strengths of the company is its expanding profit margins over time. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income.

Highlights from the ratings report include:
  • The gross profit margin for MID-CON ENERGY PARTNERS -LP is rather high; currently it is at 58.40%. Despite the high profit margin, it has decreased significantly from the same period last year. Despite the mixed results of the gross profit margin, MCEP's net profit margin of 19.78% significantly outperformed against the industry.
  • MCEP, with its decline in revenue, underperformed when compared the industry average of 3.0%. Since the same quarter one year prior, revenues fell by 14.6%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market on the basis of return on equity, MID-CON ENERGY PARTNERS -LP has underperformed in comparison with the industry average, but has exceeded that of the S&P 500.
  • MID-CON ENERGY PARTNERS -LP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last year. We anticipate that this should continue in the coming year. During the past fiscal year, MID-CON ENERGY PARTNERS -LP reported lower earnings of $1.44 versus $1.63 in the prior year. For the next year, the market is expecting a contraction of 18.1% in earnings ($1.18 versus $1.44).
  • 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 Oil, Gas & Consumable Fuels industry. The net income has significantly decreased by 63.5% when compared to the same quarter one year ago, falling from $10.54 million to $3.85 million.

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CTC Media

Dividend Yield: 10.80%

CTC Media (NASDAQ: CTCM) shares currently have a dividend yield of 10.80%.

CTC Media, Inc., together with its subsidiaries, operates as an independent media company in Russia and other CIS markets. The company has a P/E ratio of 6.77.

The average volume for CTC Media has been 747,900 shares per day over the past 30 days. CTC Media has a market cap of $1.0 billion and is part of the media industry. Shares are down 54.2% year-to-date as of the close of trading on Thursday.

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TheStreet Ratings rates CTC Media 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, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:
  • CTCM has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.16, which illustrates the ability to avoid short-term cash problems.
  • Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. In comparison to the other companies in the Media industry and the overall market, CTC MEDIA INC's return on equity significantly exceeds that of the industry average and is above that of the S&P 500.
  • 46.29% is the gross profit margin for CTC MEDIA INC which we consider to be strong. Regardless of CTCM's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, CTCM's net profit margin of 14.46% compares favorably to the industry average.
  • The company, on the basis of change in net income from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and greatly underperformed compared to the Media industry average. The net income has decreased by 15.6% when compared to the same quarter one year ago, dropping from $31.59 million to $26.66 million.
  • Net operating cash flow has significantly decreased to $17.58 million or 71.54% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.

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