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Many mid-cap companies are paying dividends. As a matter of fact, 267 companies among the 400 companies which are included in the S&P MidCap 400 index are paying dividends, 125 of them have a dividend yield greater than 2%, 69 companies have a yield greater than 3%, and 32 companies have a yield of over 4%.

In this article, I tried to find out if the five stocks, which have the highest dividend yield among the mid-cap stocks included in the S&P MidCap 400 index, are at a bargain now. While there is no official breakdown, the division between the large, medium and small cap is approximately as follows:

Large-cap: $10 billion and greater

Mid-cap: $1 billion-$10 billion

Small-cap: $100 million-$1 billion

In this article, I will give the corresponding fundamental parameters for these five companies and my own opinion about them. Nonetheless, these data and my opinion should only serve as a basis for further research. All the data for this article were taken from Portfolio123, Yahoo Finance and finviz.com on October 05.

The table below presents the top five highest dividend yielders, their forward annual dividend rate, the forward yield, the payout ratio and the dividend rate of growth for the past five years.

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Apollo Investment Corporation (NASDAQ:AINV)

Apollo Investment Corporation is business development company and operates as a closed-end management investment company.

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Source: company presentation

Apollo Investment Corporation has a low trailing P/E of 13.73 and a very low forward P/E of 9.55. The price to book value is very low at 0.96, and the average annual earnings growth estimates for the next five years is at 3.50%. The forward annual dividend yield is very high at 9.71%, and the payout ratio is at 123%.

The AINV stock price is 0.79% above its 20-day simple moving average, 3.55% above its 50-day simple moving average and 3.35% above its 200-day simple moving average. That indicates a short-term, mid-term and long-term uptrend.

Growth

Apollo Investment Corporation has recorded strong EPS growth, and negative revenue and dividend growth during the last five years, as shown in the table below.

Source: Portfolio123

Apollo's earnings growth has been much better than that of the industry median, the sector median and the S&P 500 median, but its sales growth has been inferior, as shown in the table below.

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Source: Portfolio123

Margins

Most of Apollo's margins have been much better than that of the industry median, the sector median and the S&P 500 median, as shown in the table below.

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Source: Portfolio123

Stock valuation

Most of Apollo's valuation metrics have been much better than that of the industry median, the sector median and the S&P 500 median, as shown in the table below.

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Source: Portfolio123

Apollo Investment Corporation has recorded strong earnings growth, and it has compelling valuation metrics and solid earnings growth prospects, and considering the fact that the stock is in an uptrend, and it trades below book value, AINV stock can move higher. Furthermore, the very rich dividend represents a gratifying income.

Risks to the expected capital gain and to the high dividend payment include; a downturn in the U.S. economy, and the company's massive debt of $1.13 billion.

Considering all the factors, in my opinion, AINV stock is attractive.

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Chart: finviz.com

Hospitality Properties Trust (NYSE:HPT)

Hospitality Properties Trust, is a real estate investment trust (REIT), engages in buying, owning, and leasing hotels.

Hospitality Properties Trust has a trailing P/E of 34.42 and a forward P/E of 26.30. The price to book value is at 1.48, and the average annual earnings growth estimates for the next five years is at 5%. The forward annual dividend yield is very high at 6.74%, and the payout ratio is at 188%. The annual rate of dividend growth over the past year was at 1.11%%, over the past three years was very high at 33.21%, and over the past five years was negative at -9.69%.

Growth

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Source: Portfolio123

Hospitality Properties Trust's revenue growth has been better than that of the industry median, the sector median and the S&P 500 median, but the earnings growth has been negative.

Margins

Most of Hospitality Properties Trust's margins have been worse than that of the industry median, the sector median and the S&P 500 median, as shown in the table below.

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Source: Portfolio123

Stock valuation

Most of Hospitality Properties Trust's valuation metrics have been better than that of the industry median, and some have been worse, as shown in the table below.

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Source: Portfolio123

Most analysts rate the HPT stock as a hold, and I think this rating is the most appropriate.

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Chart: finviz.com

Senior Housing Properties Trust (NYSE:SNH)

Senior Housing Properties Trust, is a real estate investment trust (REIT), primarily invests in senior housing properties in the United States.

Senior Housing Properties Trust has a trailing P/E of 30.86 and a forward P/E of 25.57. The price to book value is at 1.57, and the average annual earnings growth estimates for the next five years is at 5.55%. The forward annual dividend yield is very high at 6.65%, and the payout ratio is at 204%. The annual rate of dividend growth over the past year was very high at 56.43%%, over the past three years was at 2.52%, and over the past five years was at 2.23%.

Growth

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Senior Housing Properties Trust's revenue growth has been much better than that of the industry median, the sector median and the S&P 500 median, but the earnings growth has been negative.

Margins

Most of Senior Housing Properties Trust's margins have been better than that of the industry median, the sector median and the S&P 500 median, as shown in the table below.

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Stock valuation

Some Senior Housing Properties Trust's valuation metrics have been better than that of the industry median, and some have been worse, as shown in the table below.

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Most analysts rate the SNH stock as a hold, and I think this rating is the most appropriate.

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Chart: finviz.com

Valley National Bancorp (NYSE:VLY)

Valley National Bancorp operates as the bank holding company for the Valley National Bank that provides commercial, retail, and wealth management financial services.

Valley National Bancorp has a low trailing P/E of 13.97 and a forward P/E of 15.97. The price to book value is at 1.30, and the average annual earnings growth estimates for the next five years is at 6%. The price-to-cash ratio is very low at 2.77, and the price to free cash flow is also very low at 10.34. The forward annual dividend yield is very high at 6.55%, and the payout ratio is at 90%.

Growth

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Valley National Bancorp's revenue growth has been better than that of the industry median, but the earnings and dividend growth have been worse.

Margins

Most of Valley National Bancorp's margins have been better than that of the industry median, the sector median and the S&P 500 median, as shown in the table below.

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Stock valuation

Some Valley National Bancorp's valuation metrics have been better than that of the industry median, the sector median and the S&P 500 median, and some have been worse, as shown in the table below.

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Most analysts rate the VLY stock as a hold, and I think this rating is the most appropriate.

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Chart: finviz.com

New York Community Bancorp Inc. (NYSE:NYCB)

New York Community Bancorp, Inc. operates as a multi-bank holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in New York, New Jersey, Florida, Ohio, and Arizona.

New York Community Bancorp has a very low debt (total debt to equity is only 0.06), and it has a low trailing P/E of 13.80 and a forward P/E of 15.07. The price to book value is at 1.19, and the average annual earnings growth estimates for the next five years is at 5.50%. The forward annual dividend yield is very high at 6.47%, and the payout ratio is at 89%.

The NYCB stock price is 2.62% above its 20-day simple moving average, 2.41% above its 50-day simple moving average and 12.94% above its 200-day simple moving average. That indicates a short-term, mid-term and long-term uptrend.

New York Community Bancorp has recorded moderate revenue and EPS growth, during the last five years, as shown in the table below.

Margins

Most of New York Community Bancorp's margins have been much better than that of the industry median, the sector median and the S&P 500 median, as shown in the table below.

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New York Community Bancorp has recorded revenue and earnings growth, and it has good valuation metrics and solid earnings growth prospects, and considering the fact that the stock is in an uptrend, NYCB stock can move higher. Furthermore, the very rich dividend represents a gratifying income.

Since the company is rich in cash ($4.10 a share) and has very low debt, there is a hardly risk that the company will reduce its dividend payment. Risks to the expected capital gain include a downturn in the U.S. economy, and decline in the company's interest margin from its actual 3.15% level.

Considering all the factors, in my opinion, NYCB stock is quite attractive.

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Chart: finviz.com

Source: 5 Mid-Cap Top Dividend Yielders: Are They Bargain Stocks Now?