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Interested in stocks paying dividend income but don't know where to start looking? Here are some ideas to get you started.

We ran a screen on stocks paying dividend yields above 1% for those currently rallying above their 20-day, 50-day, and 200-day moving averages.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks are poised to outperform? Use this list as a starting point for your own analysis.

1. American Campus Communities Inc. (NYSE:ACC): Engages in the acquisition, design, finance, development, lease, and management of student housing properties in the United States. Market cap at $4.98B, most recent closing price at $47.56. Net institutional purchases in the current quarter at 16.2M shares, which represents about 15.52% of the company's float of 104.40M shares. Dividend yield at 2.8%. The stock is currently trading 1.6% above its 20-day moving average, 4.7% above its 50-day moving average, and 6% above its 200-day moving average. The top 2 holders of the stock are The Vanguard Group, and FMR, LLC.

2. American Eagle Outfitters, Inc. (NYSE:AEO): Operates as an apparel and accessories retailer in the United States and Canada. Market cap at $4.2B, most recent closing price at $21.22. Net institutional purchases in the current quarter at 14.8M shares, which represents about 8.61% of the company's float of 171.80M shares. Dividend yield at 2.1%. The stock is currently trading 3.5% above its 20-day moving average, 4.17% above its 50-day moving average, and 9% above its 200-day moving average. The top 2 holders of the stock are Royce & Associates, and The Vanguard Group.

3. Atlas Energy, L.P (NYSE:ATLS):
Engages in the gathering and processing of natural gas in the Mid-Continent and Appalachia regions. Market cap at $1.91B, most recent closing price at $37.24. Net institutional purchases in the current quarter at 4.8M shares, which represents about 10.21% of the company's float of 47.00M shares. Dividend yield at 2.9%. The stock is currently trading 6% above its 20-day moving average, 10% above its 50-day moving average, and 11% above its 200-day moving average. The top 2 holders of the stock are Morgan Stanley, and Cooperman Leon G.

4. Progressive Waste Solutions Ltd. (NYSE:BIN): Operates as a vertically integrated waste management company in North America. Market cap at $2.5B, most recent closing price at $21.69. Net institutional purchases in the current quarter at 6.0M shares, which represents about 5.57% of the company's float of 107.73M shares. Dividend yield at 2.6%. The stock is currently trading 1.1% above its 20-day moving average, 6.22% above its 50-day moving average, and 9.3% above its 200-day moving average. The top 2 holders of the stock are Sentry Select Capital, and Royal Bank of Canada.

5. Chesapeake Lodging Trust (NYSE:CHSP): Invests in upper-upscale hotel properties in major business and convention markets and, on a selective basis, premium select-service and extended-stay hotel properties in urban settings or unique locations in the United States of America ("U.S."). Market cap at $851.62M, most recent closing price at $21.50. Net institutional purchases in the current quarter at 7.3M shares, which represents about 20.24% of the company's float of 36.06M shares. Dividend yield at 4.1%. The stock is currently trading 2.2% above its 20-day moving average, 9.7% above its 50-day moving average, and 18% above its 200-day moving average. The top 2 holders of the stock are FMR, LLC, and The Vanguard Group.

6. Colony Financial, Inc. (NYSE:CLNY): Focuses on acquiring, originating, and managing commercial mortgage loans and other commercial real estate-related debt investments. Market cap at $884.17M, most recent closing price at $21.45. Net institutional purchases in the current quarter at 5.5M shares, which represents about 14.81% of the company's float of 37.14M shares. Dividend yield at 6.5%. The stock is currently trading 6% above its 20-day moving average, 10% above its 50-day moving average, and 20% above its 200-day moving average. The top 2 holders of the stock are Wellington Management, and Robeco Investment Management.

*Institutional data sourced from Fidelity, rallying and all other data sourced from Finviz.


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Business relationship disclosure: Business relationship disclosure: Kapitall is a team of analysts. This article was written by Sabina Bhatia, one of our writers. We did not receive compensation for this article (other than from Seeking Alpha), and we have no business relationship with any company whose stock is mentioned in this article.

Source: 6 Rallying Dividend Stocks Being Bought By Hedge Funds