With an 8% dividend yield, I think this cheap FTSE 250 stock could be one not to miss

I have identified 15 stocks in the FTSE 250 with forecast dividends of 8% or higher, compared to only five in the FTSE 100. This seems to go against the norm, as the FTSE 100 is usually associated with top dividend income while the FTSE 250 is known for growth potential.

Among the top picks is Supermarket Income REIT (LSE: SUPR), which has seen a 25% decline in the past five years but offers a forecast dividend yield of 8.1%. The trust invests in supermarket properties, aiming for rental income and long-term capital growth. While there are risks such as share dilution and debt financing, the high dividend yield makes it an attractive option.

Another stock to watch is ITV, with a forecast dividend yield of 6.3% and strong earnings cover in the coming years. The potential for earnings growth could lower the price-to-earnings ratio below nine by 2026, making it a candidate for dividend stock investors in 2024.

Greencoat UK Wind is also worth considering, with a forecast yield of 7.2%. The renewable energy sector is competitive, but Greencoat is well-positioned for sustainable profit growth from 2025. Other investment firms like abrdn and Ashmore Group, as well as housebuilder Crest Nicholson Holdings, offer yields above 8%, making it an opportune time for FTSE 250 dividend investors.

Overall, the market may be undervaluing FTSE 250 shares with high dividend yields, presenting potential opportunities for investors. Please note that tax implications may vary, and the content provided is for informational purposes only.