Public Storage
This giant self-storage leader has been a go-to real estate investment trust (REIT) stock for investors for years. Public Storage Inc. (NYSE: PSA) is a fully integrated, self-administered and self-managed REIT that primarily acquires, develops, owns and operates self-storage facilities.
As of September 30, 2020, the company had interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States. It had an approximate 35% common equity interest in Shurgard Self Storage, which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand.
Furthermore, Public Storage had an approximate 42% common equity interest in PS Business Parks, which owned and operated approximately 28 million rentable square feet of commercial space.
Investors receive a 2.77% distribution. The $369 price objective at Jefferies compares with a $338.18 consensus target. Public Storage stock closed at $290.85 on Monday.
Walmart
The giant retailer posted solid third-quarter results that beat estimates, and it is a top idea for investors looking for safe and secure retail winners. Walmart Inc. (NYSE: WMT) is the world’s largest retailer, operating retail stores under the formats of Walmart Stores, Supercenters, Neighborhood Markets and Sam’s Club locations in the United States, as well as a growing e-commerce business. Internationally Walmart also operates locations in several countries, including Argentina, Brazil, Canada, China, Japan, Mexico and the United Kingdom.
Each week, nearly 260 million customers and members visit the company’s 11,535 stores under 72 banners in 28 countries and e-commerce websites in 11 countries. It had fiscal 2021 revenue of nearly $560 billion, and Walmart employs approximately 2.2 million associates worldwide.
Shareholders receive a 1.59% dividend. The Jefferies price target is $175. Walmart stock has a consensus target of $161.18. Shares were last seen on Monday trading at $142.64.
Like many across Wall Street, the analysts at Jefferies see some tough sledding in 2023 and the potential for a recession later in the year. Given that we are right in the thick of fourth-quarter earnings reporting, it makes sense to buy partial positions now and see how the results come in for these top companies.
Originally published at 24/7 Wall St.
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