IMO, what it seems like you've done is nothing more than having screened out a company worth further investigation.
The next step would be a thorough analysis of the company's past financials and current statements to arrive at your own opinion / forecast of the immediate and far future of the company's prospects. Typically, this is done by looking at the company's regulatory filings, and maybe some additional searching on comparison businesses. There are many sources of instruction for how one might "value" or "analyze" a company, or that provide help on "reading a balance sheet". (This is not an easy skill to learn, but it is one that will prove invaluable over a lifetime of investing.)
It is possible that you'll uncover a deteriorating business where the latest selling, and subsequent drop in price that caused the high yield, is well-deserved. In which case, you know to stay away and move on to the next idea.
On the other hand, you might end up confident that the company is not suffering from a drop in sales, rise in expenses, growing debt payments, loss of "moat", etc. In which case, you've found a great investment candidate. I say candidate because you still may decide this company isn't for you, even if the financials are right, because you might find better opportunities for an equal, or acceptable, return at lower risk while you're researching.
As to the yield being high when there are no problems with the fundamentals of the business, this may simply be because of panic selling during this past few week's downturn, or some other sort of temporary and superficial scare. However, be warned that the masses can remain irrational, and thus the price stay suppressed or even drop further, for longer than you're willing to wait for your ROI. The good news is that in that case, you're being well compensated to wait at a 11+% yield!