Seeking up to 9% Dividend Yield? Here Are 2 Dividend Stocks Billionaire Bill Miller Is Holding for Income Growth

The markets have been exhibiting some wobbly tendencies recently, with the strong rally seen in the first half of the year appearing to have wilted a bit under the summer sun.

Fear not, however, appears to be the advice of one prominent stock picker. With US inflation falling to 3% recently compared to last summer’s 9%, and with GDP growth in the last quarter coming in at 2.4%, famous value investor Bill Miller, whose net worth is valued at $1.4 billion, thinks the rest of the year looks pretty good for the stock market.

“It’s entirely possible that we’re going to get back to a 2% inflation rate by the end of this year,” says Miller. “If we do so without experiencing a recession and with earnings being okay, that would give you a much, much higher justified valuation in the market than we’re at right now.”

With such a positive outlook, then, it makes sense to find out which stocks Miller believes will keep on delivering the goods. In this regard, we took a closer look at two dividend stocks, offering yields of up to 9%, which are currently held by Miller’s firm, Miller Value Partners. Here’s what we found.

CTO Realty Growth (CTO)

We’ll start with CTO Realty Growth, a real estate investment trust (REIT) focused on shopping mall and retail niche properties. The company’s portfolio features assets in Southeast and Southwest of the US, and leans heavily on high-quality, income-generating properties. CTO also holds a significant stake in Alpine Income Property Trust, another retail-oriented REIT.

CTO doesn’t choose its property investments solely for their ability to generate current income; the company is also focused on future income potential. More than half of its portfolio investments – 13 out of 21 properties – are located in Florida, Georgia, or Texas, three of the fastest-growing US state economies. By GDP growth, all three states rank in the top 10.

Continuing on the momentum seen during the first quarter, the company delivered a strong set of results in Q2. The top line came to $26.05 million, for a 34% increase year-over-year and…


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