The average dividend stock in the S 500 yields just 1.5%. That's a fairly modest payout that isn't hard to beat. The danger with high-yielding dividend stocks, however, is that sometimes it can be hard to tell which payouts are safe and sustainable and which ones are too risky to invest in.

Below are three stocks with high yields that are good buys, followed by one that investors are better off steering clear of.

Realty Income (NYSE: O) is a real estate investment trust (REIT) with a diverse portfolio of clients that spans 85 industries. That diversification helps make Realty Income one of the more stable REITs to invest in. It's unique in many respects, including the fact that it pays dividends on a monthly basis -- most dividend stocks pay every quarter. As of December, the company has declared a dividend for 642 straight months (53.5 years). It has also increased its dividend for 105 consecutive quarters (26.25 years).

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Source Fool.com