Investing

BofA Securities Is Out With Its Top 10 Stock Picks for Q4

Extra Space Storage

This top real estate investment trust (REIT) is a safe way for investors to own the self-storage sector. Extra Space Storage Inc. (NYSE: EXR) is a fully integrated, self-administered and self-managed REIT headquartered in Salt Lake City, Utah.

Like many self-storage companies, Extra Space offers rentable storage space offering customers conveniently located and secure storage units across the country, including boat storage, recreational vehicle storage and business storage.

As of the fourth quarter of 2020, the company owned or operated 1,971 self-storage stores in 40 states, the District of Columbia and Puerto Rico. The portfolio consists of approximately 149.2 million square feet of rentable space and 1.4 million units, making the company the second-largest owner/operator of self-storage stores and the largest self-storage management company in the country.

Investors receive a 2.97% distribution. BofA Securities has set a $218 price target on Extra Space Storage stock. The consensus target of $193.62 is closer to Monday’s close at $168.30.

Fox

This well-known media and broadcasting company continues to churn out outstanding ratings. Fox Corp. (NASDAQ: FOX) operates as a news, sports and entertainment company in the United States.

Its Cable Network Programming segment produces and licenses news, business news and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies and online multichannel video programming distributors.

The company operates FOX News, a national cable news channel; FOX Business, a business news national cable channel; FS1 and FS2 multi-sport national networks; FOX Sports Racing, a video programming service that comprises motorsports programming; and FOX Soccer Plus, a video programming network for live soccer and rugby competitions; FOX Deportes, a Spanish-language sports programming service; and Big Ten Network, a national video programming service.

The Television segment acquires, produces, markets and distributes broadcast network programming. It operates the FOX Network, a national television broadcast network that broadcasts sports programming and entertainment.

Shareholders receive a 1.25% dividend. The BofA Securities price target is $54. The consensus target is $51.50, and Monday’s closing share price was $38.25.

General Electric

This venerable American company was booted out of the Dow Jones industrial average a few years ago but has proceeded to take drastic steps to turn things around. General Electric Co. (NYSE: GE) operates as a high-tech industrial company worldwide.

The company’s Power segment offers heavy-duty and aero-derivative gas turbines for utilities, independent power producers and industrial applications; maintenance, service and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels and support services for boiling water reactors. This segment also applies the science and systems of power conversion to provide motors, generators, automation and control equipment, as well as drives for energy intensive industries, such as marine, oil and gas, mining, rail, metals, test systems and water.

Its Renewable Energy segment provides various solutions for its customers through combining onshore and offshore wind, blades, hydro, storage, solar and grid solutions, as well as hybrid renewables and digital services offerings. The company’s Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power and mechanical aircraft systems. It also provides aftermarket services.

Investors in General Electric stock receive just a 0.31% dividend. The BofA Securities analysts have a $128 price. The posted consensus target is $124.09. The stock closed on Monday at $104.90.

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