Wouldn't it be nice to get paid while watching your stocks skyrocket? You might be thinking such a scenario is unrealistic. But it might not be. Here are three dividend stocks that could soar 51% to 58% over the next 12 months, according to Wall Street.

1. Sanofi

Some pharma stocks have defied the bear market. However, Sanofi (SNY -0.10%) isn't one of them. Shares of the French drugmaker are down around 20% so far this year, roughly in line with the S&P 500's performance.

Many Wall Street analysts remain optimistic about Sanofi, though. The consensus 12-month price target for the stock reflects an upside potential of 51%.

Sanofi hasn't been this cheap in years. Investors have fretted about the lawsuits against the company related to heartburn drug Zantac. The U.S. Food and Drug Administration (FDA) pulled the medication off the market in 2020 due to concerns that it could increase the likelihood of cancer. 

But analysts seem to think those concerns are overblown. Sanofi only marketed Zantac for a few years after acquiring the over-the-counter rights to the drug. The company believes that it acted responsibly when potential safety issues were first identified. It also maintains that a thorough analysis shows that Zantac actually is safe to use. 

If Wall Street is right, Sanofi will bounce back strongly next year. The stock offers a juicy dividend yield of nearly 4.4%. Sanofi pays investors handsomely to wait for a rebound.

2. Zoetis

Zoetis' (ZTS 0.97%) share price has fallen nearly 40% year to date. Analysts, though, think the animal health stock will mount a major comeback. The consensus 12-month price target for Zoetis is 53% above its current share price.

Sure, Zoetis faces some headwinds, including economic uncertainty, generic competition, and the strong U.S. dollar. However, the company's business remains strong. In August, Zoetis even increased its guidance for full-year 2022 because of its positive outlook for the rest of the year. 

Wall Street probably especially likes the prospects for Zoetis' companion animal health business. This business is practically recession-proof thanks to the strong bonds between owners and their pets.

Zoetis' dividend yield of 0.88% might not be overly attractive to investors. However, the company has increased its dividend by 5x since its spin-off from Pfizer in 2013. Look for Zoetis' dividend to continue growing. 

3. Medical Properties Trust

Medical Properties Trust (MPW) has really taken a beating this year. Shares of the healthcare real estate investment trust (REIT) have plunged more than 50% so far in 2022. Have analysts panicked? Nope. The consensus 12-month price target for the stock reflects an upside potential of 58%.

An environment with rising interest rates isn't great for REITs. The higher rates make it more costly for the companies to fund purchases of additional properties. Medical Properties Trust also faces uncertainty related to the financial stability of its top tenant, Steward.

However, the healthcare REIT remains profitable and growing. Its balance sheet is strong. There are also some signs that Steward's financial position is improving. Wall Street appears to believe that Medical Properties Trust is a bargain with its shares trading below six times expected earnings.

Analysts undoubtedly like the REIT's super-high dividend yield of nearly 10.6%. If Medical Properties Trust stock soars as they predict it will, investors will be paid a premium to wait for the rebound.