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Top Ranked Income Stocks to Buy for July 1st

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Here are four stocks with buy rank and strong income characteristics for investors to consider today, July 1st:

ALLETE, Inc. (ALE - Free Report) : This energy company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.6% over the last 60 days.

Allete, Inc. Price and Consensus

This Zacks Rank #2 (Buy) company has a dividend yield of 2.82%, compared with the industry average of 2.77%. Its five-year average dividend yield is 3.41%.

Allete, Inc. Dividend Yield (TTM)

Ameriprise Financial, Inc. (AMP - Free Report) : This provider of financial products and services has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.3% over the last 60 days.

Ameriprise Financial, Inc. Price and Consensus

This Zacks Rank #2 (Buy) company has a dividend yield of 2.87%, compared with the industry average of 2.82%. Its five-year average dividend yield is 2.43%.

Ameriprise Financial, Inc. Dividend Yield (TTM)

Arbor Realty Trust, Inc. (ABR - Free Report) : This real estate investment trust (REIT) has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.1% over the last 60 days.

Arbor Realty Trust Price and Consensus

This Zacks Rank #1 (Strong Buy) company has a dividend yield of 9.24%, compared with the industry average of 4.19%. Its five-year average dividend yield is 8.54%.

Arbor Realty Trust Dividend Yield (TTM)

Best Buy Co., Inc. (BBY - Free Report) : This retailer of technology products, services, and solutions has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.4% over the last 60 days.

Best Buy Co., Inc. Price and Consensus

This Zacks Rank #2 (Buy) company has a dividend yield of 2.87%, compared with the industry average of 0.00%. Its five-year average dividend yield is 2.59%.

Best Buy Co., Inc. Dividend Yield (TTM)

See the full list of top ranked stocks here.

Find more top income stocks with some of our great premium screens.

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>