When the Dow continues to slide and the overall market mentality remains rotten, Cramer said Wednesday, there are still opportunities to make money in accidentally high-yielders.
Cramer's recent fave is Health Care REIT , which is a real estate investment trust that owns senior homes, hospitals and other medical office buildings. It has 608 properties in 39 states and boasts a 6.6% yield. Like other accidental high-yielders, when its share price drops, it becomes less expensive and the yield increases. So not only can you purchase more shares at a lower price, you are, in turn, making more money off the higher yield. At its 52-week high on March 24, the stock yielded 5.9% and has continued to increase the past three quarters.
The high yield is great, but Cramer also thinks this is "very attractive at the moment" because of demand, as a growing number of Americans are aging and will need medical care. Cramer also likes its diversification in terms of property type, revenue source and geography. And the company is executing well: On May 3, the company's quarterly results beat the Street's earnings estimates by 2 cents a share, and revenues were up 10%.
"HCN should earn more than enough money to cover its dividend payout, and it could even raise it," Cramer said. "In this market we want safety and security, we want low risk, we want boring stocks with accidentally high dividend yields, and HCN fits the bill."
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