The bear market isn't over, but trying to predict when it will come to an end can be a costly and timely exercise. If investors wait on the sidelines for a recovery to happen, the risk is that they could end up missing some great deals and the ability to profit from them. Two dividend stocks that already look like solid buys right now, trading near their 52-week lows, are Target (TGT 0.57%) and Verizon Communications (VZ 0.79%).

1. Target

Big-box retailer Target struggled this year due to supply chain issues and inflation. Its inventory levels remain elevated, and that could be a concern for the company heading into 2023. You may be tempted to wait to see what happens with the business, but the reality is that Target is already a good buy, particularly for long-term investors.

The stock trades at 14 times its future earnings (based on analyst expectations). That's far cheaper than rival Walmart, where investors are paying a multiple of 22. 

Shares of Target recently were down 38% in what has been a catastrophic year for the stock. As a result, it is now yielding about 3%, which is higher than where it has been in recent years. That's also well above the S&P 500 average of 1.8%.

And even though the company has been reporting some softer earnings numbers in recent quarters due to macroeconomic issues, its payout ratio remains relatively low and sustainable at around 50% of profits. 

For dividend investors, now could be an optimal time to load up on Target's stock and just hang on for the long haul. There is plenty of incentive to buy and hold.

In June, the company raised its dividend payments by 20% -- marking the 51st consecutive year that it has bumped up its payouts. With its numbers still looking strong (and potentially improving as inflation starts to cool), investors can be confident that the dividend increases are likely to continue.

2. Verizon Communications

Telecom company Verizon also had a tough year, but its struggles have come in attracting investors. Rivals AT&T and T-Mobile delivered strong earnings numbers this year and lured investors away in the process. Year to date, Verizon's stock has fallen 26% (AT&T is down just 1%, while T-Mobile shares have soared 21%), but the company's business hasn't been doing as badly as the sell-off suggests.

Through the first nine months of 2022, the company's operating revenue of $101.6 billion is up a modest 2% from the same time last year. However, rising operating expenses chipped away at profitability, and the company's operating income of $23.2 billion over the past three quarters is down 6% year over year. It's a decline, but not a huge one that suggests the business is in serious trouble.

The decline in the share price made Verizon one of the more attractive dividend stocks out there, with its yield up to an incredible 6.8% -- an unusually high payout for a fairly safe telecom stock. Even AT&T's yield, although high at around 6.1%, isn't near that level.

And yet, like Target, Verizon's payout ratio is sustainable at less than 60% of earnings. The company's earnings haven't struggled to the point where Verizon has suddenly become a risky stock with its dividend due for a cut.

This is an opportunity the bear market created that may not last for long, and that investors shouldn't pass up. Verizon's business is still in solid shape, and buying the stock while it's near its 52-week low may turn out to be one of the best decisions for dividend investors to make right now.