With the 30 year US Treasury yield touching 5.29% for the first time since 2007, long term money suddenly feels expensive and that reshapes how investors think about value, income and risk. Higher discount rates can pressure many stocks, yet they can also highlight companies that some investors see as better compensated for that risk. This article walks through three stocks from our US Large Cap Value and High Dividend Stocks screener that appear more directly exposed to this rate shift, and explains how the same bond market story can mean very different things for each one.

The three stocks below are just a starting sample, and the full screen surfaced 25 more large cap value and dividend companies with equally compelling stories that are not covered here. To identify and analyze the highest conviction ideas that fit your own approach, head straight to the US Large-Cap Value and High-Dividend Stocks screener.

Americold Realty Trust (COLD)

Overview: Americold Realty Trust is a REIT that owns and operates temperature controlled warehouses and logistics facilities, providing refrigerated storage and transport services that keep food moving safely from producers to retailers around the world. The company earns income from leasing its cold storage real estate and offering related logistics services, which links closely to the value and income focus of this large cap high dividend screen.

Operations: Americold generates about US$207 million from transportation services and a further US$2.4b through other segment adjusted activities, with most revenue coming from North America at about US$2.0b, followed by Asia Pacific at about US$345 million and Europe at about US$249 million.

Market Cap: US$4.2b

Americold Realty Trust gives you exposure to real assets tied to everyday food demand, while also offering a high dividend yield and a business model built on long term storage contracts and recurring cash flow. Recent news points to improving operations, with better pricing, occupancy and throughput. There is also a US$1.3b joint venture aimed at cutting debt and easing some of the rate pressure that worries many REIT investors when 30 year yields are above 5%. The other side of the story is real, not theoretical, risk from higher interest costs, elevated leverage and a past impairment charge that weighs on reported earnings. If you care about income and value in a rate heavy market, Americold is a company worth a closer look before moving on.

Americold Realty Trust is trying to use a US$1.3b joint venture to ease rate pressure and sharpen its balance sheet, yet the real story sits in the detailed Americold Realty Trust financial health report

Build your own high dividend and real asset screen

Americold Realty Trust and the other two stocks in this list came from a single Simply Wall St screener, but the real value is in shaping filters around what matters most to you. Use our flexible Screener to blend valuation, dividend strength, balance sheet and risks into your own shortlist, or tap into our curated Investing Ideas for ready made starting points.

Alexandria Real Estate Equities (ARE)

Overview: Alexandria Real Estate Equities is an S&P 500 life science focused REIT that owns, operates and develops large scale lab and office campuses in major biotech hubs such as Boston, San Diego and the San Francisco Bay Area, giving tenants specialized space for research and development. For investors using the US Large Cap Value and High Dividend Stocks screener, it offers a mix of large cap scale, asset backed cash flows and a REIT structure that is often used as a source of income.

Operations: Alexandria generates about US$2.9b from providing space for lease to life science, agtech and technology tenants, partly offset by a US$45 million segment adjustment.

Market Cap: US$8.4b

Alexandria Real Estate Equities gives you exposure to purpose built life science campuses that many tenants depend on for lab intensive work, yet the stock also reflects the trade off between income potential and pressure from higher long term interest rates. The company is working through revenue softness, occupancy headwinds and higher borrowing costs while still paying a cash dividend and raising long dated capital, such as its US$1.0b subordinated notes, to manage leverage. If you are interested in a large cap REIT tied to health related demand and trading on a value tilt, the key question is whether the current mix of weaker margins, debt risk and long leases supports a patient total return profile or indicates that caution around earnings quality remains appropriate.

Alexandria Real Estate Equities is working to balance life science demand with higher borrowing costs and long leases. See how that trade off looks in the latest analysis report for Alexandria Real Estate Equities

National Fuel Gas (NFG)

Overview: National Fuel Gas is a diversified energy company that produces natural gas, moves it through pipelines and storage facilities in Pennsylvania and New York, and delivers it to utility customers in parts of New York and Pennsylvania. That mix of tangible energy assets and dividend income fits the US Large Cap Value and High Dividend Stocks screener for investors who want cash generative businesses that may be less sensitive to higher discount rates.

Operations: National Fuel Gas generates about US$1.3b from its Integrated Upstream and Gathering segment, around US$938 million from its Utility business, roughly US$431 million from Pipeline and Storage, and has US$150 million of corporate and intersegment eliminations. All reported revenue of about US$2.5b comes from the United States.

Market Cap: US$7.8b

National Fuel Gas offers a blend of upstream production, pipelines and regulated utilities, which can appeal if you are looking for value, dividends and hard assets while long term Treasury yields sit above 5%. Earnings and margins are currently strong, helped by vertical integration and US natural gas demand, and the company is expanding its regulated footprint with the CenterPoint Ohio utilities acquisition and ongoing infrastructure projects. At the same time, high debt, dividend coverage that leans on external funding and rising interest costs mean the balance sheet deserves close attention as funding conditions tighten. For investors weighing valuation, yield and resilience in a higher rate world, the full risk reward picture at National Fuel Gas is worth unpacking in more detail.

National Fuel Gas combines upstream production, pipelines and utilities in a way that can make it harder to see how the earnings engine really works. Tap into the full analysis report for National Fuel Gas to understand what that mix might be hiding.

Seeking Alternatives Before The Crowd Moves

Fresh ideas move first. Breakout stories build momentum while they are still under the radar for now, and slow movers get caught chasing drops after it matters. Consider acting early if it fits your strategy.

• Spot companies building quiet momentum in real assets and infrastructure before they start attracting wider attention by scanning the curated 40 power grid technology and infrastructure stocks while it still feels early.
• Track potential breakout miners and producers that could be affected if gold sentiment changes and use the hand picked 30 elite gold producer stocks to narrow the field efficiently.
• Hunt for income focused stocks that aim to keep paying through different cycles by filtering the curated 10 dividend fortresses before yields change.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.