12 Dividend Stocks That Are Down Over 30% YTD

Published December 27, 2022 at 3:06 pm EST Updated September 7, 2026 at 2:36 pm EDT

In this article, we take a look at 12 dividend stocks that are down over 30% YTD.

Dividend stocks have been under pressure given rising Treasury yields.

As a result of the Federal Reserve raising interest rates seven times this year, the U.S. 3 Month government Treasury bond has increased by 4.24 percentage points to 4.24% from 1 year ago. Meanwhile the 10 year Treasury bond has increased by 2.24 percentage points in a year to 4.13% and the 30 year Treasury bond has increased by 189 percentage points to 3.80%.

Given the rising Treasury rates, many investors have decided to invest more in the U.S. government bonds than in dividend stocks. As a result, many dividend stocks haven’t done very well this year.

While Treasuries don’t have any default risk, the longer term U.S. government bond securities do have potential downside if interest rates rise more than expected.

U.S. government bonds also may not have as much upside as some of the leading dividend stocks such as ASML Holding N.V. (NASDAQ:ASML) that have quality businesses and competitive advantages.

In the long term, the Federal Reserve could also win its battle against inflation and interest rates could decrease. If interest rate expectations decrease, leading dividend stocks could become more attractive to many yield seeking investors again.

Given the downturn this year and the expected economic recession next year, the broader market has declined substantially and many dividend stocks have fallen significantly as well. Given the uncertainty, it can be a good idea for long term investors to own a well diversified portfolio of stocks across many different sectors.

Photo by Yogesh Phuyal on Unsplash

Methodology

For our list of 12 Dividend Stocks That Are Down Over 30% YTD, we picked 12 stocks that pay dividends that are down over 30% year to date as of 12/26 according to FINVIZ.com.

Some stocks on this list, but not all, are leaders in their fields with quality businesses and competitive advantages. All of the stocks on this list do have a dividend yield of over 1% as of 12/26.

We ranked the stocks based on the number of hedge funds in our database that owned shares of the same company at the end of Q3.

For those of you interested, also check out 12 Best Dividend Paying Stocks to Buy Now.

12 Dividend Stocks That Are Down Over 30% YTD

12. Papa John’s International, Inc. (NASDAQ:PZZA)

Year to Date Performance as of 12/26: -37.09%

Dividend Yield as of 12/26: 2%

Number of Hedge Fund Holders: 22

Given the higher inflation in 2022, demand for pizza has been weaker than expected. For Q3, leading pizza chain Papa John’s International, Inc.’s total sales were down $2 million to $511 million and the company’s North American comparable sales were slightly down around 1% year over year. Profits have fallen more than sales as adjusted EPS was $0.54 versus the year ago comparable period of $0.83.

As a result of the weaker demand, Papa John’s International, Inc.’s stock has retreated 37.09% and the stock could have more downside if the recession next year is more severe than expected. Nevertheless, the company’s Q3 EPS is more than the quarterly dividend of $0.42 per share and analysts do expect earnings to rise in the long term.

Alongside FedEx Corporation (NYSE:FDX), Prologis, Inc. (NYSE:PLD), and NIKE, Inc. (NYSE:NKE), Papa John’s International, Inc. is a dividend stock that’s down over 30% year to date.

11. LXP Industrial Trust (NYSE:LXP)

Year to Date Performance as of 12/26: -33.93%

Dividend Yield as of 12/26: 4.84%

Number of Hedge Fund Holders: 24

LXP Industrial Trust (NYSE:LXP) is an industrial REIT that has declined 33.93% year to date as the REIT sector as a whole has faced macroeconomic headwinds given rising interest rates increases variable borrowing costs and uncertainty. As a result of the more challenging environment, LXP Industrial Trust’s Q3 adjusted FFO was $0.17 per diluted share, compared to the prior year same period’s adjusted FFO of $0.19 per diluted share.

For the period, LXP Industrial Trust did repurchase 5.6 million shares in Q3 and its board increased the repurchase authorization by 10 million common shares, however. Of the 920 hedge funds in our database, 24 owned shares of LXP Industrial Trust, ranking the stock #11 on our list of 12 Dividend Stocks That Are Down Over 30% YTD.

10. Robert Half International Inc. (NYSE:RHI)

Year to Date Performance as of 12/26: -34.20%

Dividend Yield as of 12/26: 2.34%

Number of Hedge Fund Holders: 24

Robert Half International Inc. (NYSE:RHI) is a leader in staffing and consulting whose stock has retreated 34.20% in 2022 given the potential for a recession next year which could decrease demand for the company’s services in the near term. Robert Half International Inc.’s recent earnings results have also been weaker than expected.

For Q3, the company’s EPS was $1.53 on sales of $1.83 billion versus the expected $1.63 on revenue of $1.92 billion. For Q4, the company sees EPS of $1.31-$1.41 versus the consensus of $1.54.

Robert Half International Inc. does have a dividend yield of 2.34% and a quarterly dividend payment of $0.43 per share which the company’s earnings per share more than covers.

9. Western Alliance Bancorporation (NYSE:WAL)

Year to Date Performance as of 12/26: -46.01%

Dividend Yield as of 12/26: 2.48%

Number of Hedge Fund Holders: 25

Western Alliance Bancorporation (NYSE:WAL) is a regional bank with 36 branch locations across Arizona, California, and Nevada. Shares of the bank have been under pressure this year given weakening sentiment and the potential for future EPS estimate decreases. On 12/13, Steven Alexopoulos of JPMorgan cut his price target to $65 from $89 and kept a ‘Neutral’ rating citing the potential for credit quality to potentially weaken earnings. In Q3, Western Alliance Bancorporation reported EPS of $2.42 on sales of $663.9 million versus the consensus of $2.61 on revenue of $687.38 million.

Western Alliance Bancorporation has a dividend yield of 2.48% and a relatively low payout ratio of 15% according to FINVIZ.

8. Camden Property Trust (NYSE:CPT)

Year to Date Performance as of 12/26: -37.70%

Dividend Yield as of 12/26: 3.38%

Number of Hedge Fund Holders: 36

Camden Property Trust (NYSE:CPT) is a residential REIT that hasn’t done very well in 2022 like many other REITs given the sector headwinds. As a result of rising interest rates, it has become harder for Camden Property Trust to grow earnings like it has before and the stock is down 37.7% as a result.

In Q3, the company reported AFFO of $1.47 versus the consensus of $1.70. For FY22, the company sees FFO of $6.57-$6.61 versus the consensus of $6.63.

36 hedge funds in our database owned shares of Camden Property Trust at the end of Q3, ranking the stock #8 on our list of 12 Dividend Stocks That Are Down Over 30% YTD.

7. 3M Company (NYSE:MMM)

Year to Date Performance as of 12/26: -32.37%

Dividend Yield as of 12/26: 4.96%

Number of Hedge Fund Holders: 49

3M Company (NYSE:MMM) is a blue chip industrial conglomerate that hasn’t done very well this year given the global macroeconomic headwinds. Given the slowing global economy, the industrial giant has cut its FY22 adjusted EPS guidance for two straight quarters with the most recent cut to $10.10-$10.35 from $10.30-$10.80. If there is a severe recession, 3M Company could cut its EPS guidance for next year too.

In the long term, however, the company has many competitive advantages. As of 12/26, 3M Company also has a dividend yield of 4.96%.

6. ASML Holding N.V. (NASDAQ:ASML)

Year to Date Performance as of 12/26: -30.74%

Dividend Yield as of 12/26: 1.20%

Number of Hedge Fund Holders: 51

ASML Holding N.V. has declined 30.74% year to date with one reason being the strong U.S. dollar, which has made much of the company’s international earnings lower. Given the high inflation, semiconductor demand hasn’t been as strong as expected and demand for ASML Holding N.V.’s semiconductor production equipment hasn’t met estimates. Nevertheless, ASML Holding N.V. has substantial long term EPS growth potential and the stock has a dividend yield of 1.2% as of 12/26.

Like ASML Holding N.V., FedEx Corporation, Prologis, Inc., and NIKE, Inc. are dividend stocks that are down over 30% year to date.

5. Domino’s Pizza, Inc. (NYSE:DPZ)

Year to Date Performance as of 12/26: -37.44%

Dividend Yield as of 12/26: 1.25%

Number of Hedge Fund Holders: 52

Domino’s Pizza, Inc. shares have retreated 37.44% in 2022 as adjusted EPS for the third quarter of 2022 fell to $2.79 from the prior year period of $3.24. For the three fiscal quarters of 2022, adjusted EPS was $8.11 versus the comparable period of 2021’s $9.36. Although the company is the largest pizza chain in the world with substantial scale, Domino’s Pizza, Inc. has faced macroeconomic headwinds such as the strong U.S. dollar which has decreased the company’s international sales in dollar terms.

52 hedge funds in our database owned shares of Domino’s Pizza, Inc. at the end of Q3, ranking the stock #5 on our list of 12 Dividend Stocks That Are Down Over 30% YTD.

4. The Estee Lauder Companies Inc. (NYSE:EL)

Year to Date Performance as of 12/26: -34.89%

Dividend Yield as of 12/26: 1.10%

Number of Hedge Fund Holders: 52

Cosmetics conglomerate The Estee Lauder Companies Inc. (NYSE:EL) has been under pressure this year given foreign exchange headwinds and weaker demand. As a result, the company in November cut its FY23 adjusted EPS outlook to $5.25-$5.40 from the previous $7.39-$7.54. The Estee Lauder Companies Inc. also sees net sales retreating between 8% and 6% year over year for the fiscal year.

As a result of the weaker earnings outlook and other factors, The Estee Lauder Companies Inc. has fallen 34.89% in 2022. Considering the company’s annual dividend of $2.64 per share and the expected FY23 adjusted EPS outlook of over $5.25, The Estee Lauder Companies Inc.’s dividend looks secure amid the down year.

3. FedEx Corporation (NYSE:FDX)

Year to Date Performance as of 12/26: -31.98%

Dividend Yield as of 12/26: 2.61%

Number of Hedge Fund Holders: 57

FedEx Corporation is a blue chip that’s down 31.98% in 2022 given the macro headwinds which have led to a drop in volume which accelerated through Q2. Nevertheless, the company has said the volume decline has begun to moderate at the end of Q3. While the company is cutting costs, there could be more volatility if there is a severe recession next year that might weaken shipment volumes further.

In the long term, however, FedEx Corporation has many competitive advantages. Its stock has a dividend yield of 2.61% as of 12/26.

2. Prologis, Inc. (NYSE:PLD)

Year to Date Performance as of 12/26: -32.51%

Dividend Yield as of 12/26: 2.78%

Number of Hedge Fund Holders: 59

Prologis, Inc. is a leading industrial REIT with a dividend yield of 2.78% as of 12/26. Although Prologis, Inc. has a high portfolio lease rate and relatively attractive cash flow growth potential, the broader REIT sector has declined substantially this year given the rise in Treasury yields. If U.S. government bond yields rise further, there could be more pressure in the next year as well. Shares of Prologis, Inc. are down 32.51% year to date but could have long term upside if interest rates normalize and the company maintains its market share.

1. NIKE, Inc. (NYSE:NKE)

Year to Date Performance as of 12/26: -30.25%

Dividend Yield as of 12/26: 1.17%

Number of Hedge Fund Holders: 70

Although shares of NIKE, Inc. have rallied substantially from October, they are still down 30.25% year to date as the market has not liked how demand for the company’s leading apparel has been weaker than expected. As a result of the weaker demand, NIKE, Inc.’s inventories have been higher than some estimates and its gross margins have come under pressure. In the long term, NIKE, Inc. has a pretty attractive business given its strong brand, however, and rising incomes in developing countries could lead to demand growing in the next 10 years. Currently, the company has a dividend yield of around 1.17%.

70 hedge funds in our database owned shares at the end of Q3, ranking NIKE, Inc. #1 on our list of 12 Dividend Stocks That Are Down Over 30% YTD.

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