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."

Arlington Asset Investment

Dividend Yield: 16.80%

Arlington Asset Investment (NYSE: AI) shares currently have a dividend yield of 16.80%.

Arlington Asset Investment Corp., an investment firm, acquires mortgage-related and other assets.

The average volume for Arlington Asset Investment has been 295,700 shares per day over the past 30 days. Arlington Asset Investment has a market cap of $475.8 million and is part of the real estate industry. Shares are down 21.6% year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates Arlington Asset Investment as a hold. The company's strengths can be seen in multiple areas, such as its expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:
  • The gross profit margin for ARLINGTON ASSET INVESTMENT is currently very high, coming in at 114.77%. It has increased significantly from the same period last year. Along with this, the net profit margin of 188.29% significantly outperformed against the industry average.
  • Net operating cash flow has significantly increased by 171.96% to $22.16 million when compared to the same quarter last year. Despite an increase in cash flow, ARLINGTON ASSET INVESTMENT's cash flow growth rate is still lower than the industry average growth rate of 191.13%.
  • AI, with its very weak revenue results, has greatly underperformed against the industry average of 5.7%. Since the same quarter one year prior, revenues plummeted by 224.8%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • 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 Capital Markets industry. The net income has significantly decreased by 699.8% when compared to the same quarter one year ago, falling from $7.03 million to -$42.19 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Capital Markets industry and the overall market, ARLINGTON ASSET INVESTMENT's return on equity significantly trails that of both the industry average and the S&P 500.

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WhiteHorse Finance

Dividend Yield: 11.10%

WhiteHorse Finance (NASDAQ: WHF) shares currently have a dividend yield of 11.10%.

Whitehorse Finance, LLC is a business development company. The company has a P/E ratio of 8.68.

The average volume for WhiteHorse Finance has been 28,300 shares per day over the past 30 days. WhiteHorse Finance has a market cap of $192.4 million and is part of the financial services industry. Shares are up 11.2% year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates WhiteHorse Finance as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:
  • The revenue growth greatly exceeded the industry average of 5.7%. Since the same quarter one year prior, revenues rose by 36.6%. 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.
  • The gross profit margin for WHITEHORSE FINANCE INC is rather high; currently it is at 62.14%. Regardless of WHF's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, WHF's net profit margin of 42.34% significantly outperformed against the industry.
  • Net operating cash flow has significantly increased by 130.10% to $11.12 million when compared to the same quarter last year. Despite an increase in cash flow of 130.10%, WHITEHORSE FINANCE INC is still growing at a significantly lower rate than the industry average of 191.13%.
  • 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 Capital Markets industry average. The net income has significantly decreased by 25.1% when compared to the same quarter one year ago, falling from $6.37 million to $4.77 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. When compared to other companies in the Capital Markets industry and the overall market, WHITEHORSE FINANCE INC's return on equity is below that of both the industry average and the S&P 500.

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CVR Refining

Dividend Yield: 15.80%

CVR Refining (NYSE: CVRR) shares currently have a dividend yield of 15.80%.

CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. It owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas. The company has a P/E ratio of 20.21.

The average volume for CVR Refining has been 299,100 shares per day over the past 30 days. CVR Refining has a market cap of $2.8 billion and is part of the energy industry. Shares are up 13.8% year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates CVR Refining 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 and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.

Highlights from the ratings report include:
  • The current debt-to-equity ratio, 0.40, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.39, which illustrates the ability to avoid short-term cash problems.
  • CVRR, with its decline in revenue, slightly underperformed the industry average of 38.6%. Since the same quarter one year prior, revenues fell by 45.1%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • 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 82.4% when compared to the same quarter one year ago, falling from $265.40 million to $46.70 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, CVR REFINING LP'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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