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 2.55% distribution. The BofA Securities price objective is $473, while the consensus target for Public Storage stock is lower at $413.33. Monday’s final print was $313.69 a share.
Industrial
Rexford Industrial Realty Inc. (NYSE: REXR) could really take off if the economy holds together, and it is also a member of the BofA Securities US1 list of top stock picks. This REIT is focused on owning and operating industrial properties throughout Southern California infill markets. It owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
The company has plans to grow its portfolio and earnings through market rent and occupancy growth, and it has a large pipeline of acquisitions in the same region.
Investors receive a 1.86% payout. The $96 BofA Securities price objective is higher than the $92.00 consensus target. Rexford Industrial Realty stock closed on Monday at $67.64.
Manufactured Housing
With an aging population that is traveling while scaling down, this is a solid choice for investors. Sun Communities Inc. (NYSE: SUI) is a fully integrated REIT that has been in the business of acquiring, operating, developing and expanding manufactured home and recreational vehicle (RV) communities since 1975.
As the nation’s premier owner and operator, the company prides itself in its commitment to its residents and guests, bringing them outstanding amenities, value and customer service consistent with the Sun Communities experience.
Consumers interested in buying a home, leasing one, finding a home site for their current manufactured home, or looking for the most desirable RV resorts across the country, this company serves all those needs. Its trusted position in the market, with prime locations throughout the United States and Canada, offers customers outstanding organizational management that makes Sun Communities the best choice in active living.
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