5 Best Income Stocks to Buy Right Now

In this article, we discuss 5 best income stocks to buy right now. If you want to read our detailed discussion on the current market condition and dividend investing, go directly to read 11 Best Income Stocks to Buy Right Now.

5. Weyerhaeuser Company (NYSE:WY)

Dividend Yield as of October 20: 2.48%

Weyerhaeuser Company (NYSE:WY) is a Washington-based timberland company that owns over 12 million acres of timberlands across the country. The company also specializes in the manufacturing of wood products. It reported strong earnings in Q2 2022 with its operating cash flow of $1.14 billion, up from $957 million in the previous quarter. The company generated over $800 million in free cash flow.

On August 12, Weyerhaeuser Company (NYSE:WY) declared a quarterly dividend of $0.18 per share, in line with its previous dividend. The company is committed to raise its sustainable base dividend by 5% annually through 2025. As of October 20, the stock has a dividend yield of 2.48%.

In October, DA Davidson maintained its Neutral rating on Weyerhaeuser Company (NYSE:WY) with a $33 price target ahead of the company’s Q3 results. The firm mentioned that the ongoing work stoppages has impacted the company’s western lumber mills and harvest operations.

At the end of Q2 2022, 41 hedge funds in Insider Monkey’s database owned stakes in Weyerhaeuser Company (NYSE:WY), up from 40 in the previous quarter. The total value of these stakes is over $328.6 million, compared with $280 million worth of stakes owned by hedge funds a quarter earlier.