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Boston Properties (BXP)

Boston Properties is the largest publicly traded developer, owner and manager of Class A office properties — high-quality buildings that command high rents — in the U.S.

The company has a portfolio of 201 properties totaling 52.8 million square feet. Boston Properties generates long-term recurring rental revenue as its portfolio has a weighted average remaining lease term of 7.8 years.

Management maintains a strong focus on gateway regions with long-term rent growth prospects. Its top three markets by net operating income are Boston (34%), New York (28%) and San Francisco (20%).

Paying quarterly dividends of 98 cents per share, the REIT currently offers an annual yield of 3.3%.

Last week, Mizuho analyst Vikram Malhotra upgraded Boston Properties from ‘neutral’ to ‘buy,’ naming the stock his top pick in the office REIT space. His price target of $135 is roughly 10% above current levels.

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Prologis (PLD)

Warehouses may not seem like exciting pieces of property, but investors of Prologis aren’t complaining. The warehouse-focused REIT has delivered a total return — stock price appreciation plus dividends earned — of more than 200% over the past five years.

Logistics facilities like warehouses are critical to our economy, particularly as consumers have embraced online shopping.

Prologis is a leading player in the field. It has investments in 4,675 logistics facilities that total nearly 1 billion square feet. They are leased to 5,800 customers across two major categories: business-to-business and retail/online fulfillment.

The REIT’s top tenants include names like Amazon, FedEx, DHL and UPS — companies that are firmly entrenched during this era of e-commerce.

Prologis pays quarterly dividends of 79 cents per share, giving it an annual yield of 1.9%.

On Monday, Raymond James analyst William Crow reiterated a ‘strong buy’ rating on Prologis, noting the sector’s potential to deliver free cash flow and increasing dividends. He also raised his price target on the shares to $190 — around 14% above where the stock sits today.

Public Storage (PSA)

Public Storage is a leading player in the self-storage business. It owns more than 2,800 self-storage facilities in 39 states totaling 200 million rentable square feet.

The company has been around for 50 years, and it’s still growing. From 2010 to 2021, the REIT’s same-store net operating income increased by 80%.

The business has served income investors well, providing dividends every single quarter since 1981. Today, the REIT has a quarterly dividend rate of $2.00 per share, translating to an annual yield of just over 2%.

The stock has also picked up momentum, gaining about 45% over the past 12 months.

More returns could be on the horizon. JPMorgan analyst Michael Mueller recently raised his price target on Public Storage from $385 to $434 while maintaining an ‘overweight’ rating. With the stock trading just below $400 right now, Mueller’s target implies potential upside of almost 10%.

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Fine art as an investment

Stocks can be volatile, cryptos make big swings to either side, and even gold is not immune to the market’s ups and downs.

That’s why if you are looking for the ultimate hedge, it could be worthwhile to check out a real, but overlooked asset: fine art.

Contemporary artwork has outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.

And it’s becoming a popular way to diversify because it’s a real physical asset with little correlation to the stock market.

On a scale of -1 to +1, with 0 representing no link at all, Citi found the correlation between contemporary art and the S&P 500 was just 0.12 during the past 25 years.

Earlier this year, Bank of America investment chief Michael Harnett singled out artwork as a sharp way to outperform over the next decade — due largely to the asset’s track record as an inflation hedge.

Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultrarich. But with a new investing platform, you can invest in iconic artworks just like Jeff Bezos and Bill Gates do.

About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. Prior to joining the team, he was a research analyst and editor at one of the leading financial publishing companies in North America. An avid advocate of investing for passive income, he wrote a monthly dividend stock newsletter for the better half of the past decade. Jing holds a Master’s Degree in Economics and an Honours Bachelor of Science Degree, both from the University of Toronto.

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