The pre-pandemic trend toward smaller homes in dense urban communities is now a thing of the past. It’s been reversed by people searching for more space and stay-at-home amenities.
So it’s easy to get why self-storage demand has sharply rebounded.
The Producer Price Index (PPI) for self-storage facilities, which has historically had a near-perfect correlation with same-store revenue growth metrics, continues to show acceleration that is only going to further this trend.
If you need a quick refresher, the PPI is a price index that gauges the average change in price received by domestic producers for their goods and services. So it measures price movements from the seller’s point of view.
But what this tells us is that self-storage stocks are some of the best buys right now...
I spoke about my top self-storage stocks a few months back, but in case you missed that video, I wanted to revisit them... And that’s mostly because opportunities are still there for the taking.
The first top self-storage stock on my list is Public Storage (NYSE: PSA).
As its name suggests, Public Storage is the largest brand and provider of storage units for personal, business and vehicle needs.
When I first recommended this stock, its price was around $233 per share. But when I filmed today’s video, PSA’s price was all the way up to $303.
That’s $70 in 2 1/2 months!
Not bad, right?
But here’s the thing: I think the congestion this top self-storage stock is seeing right now is only going to push its price higher.
I have a price target of about $330 per share on PSA, which would put us a little bit above where it’s at right now.
So check out my short video to learn how you can take advantage of PSA and the next top self-storage stock on my list. Be sure to share your thoughts about them or any other stocks you’re currently trading in the comments section.
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Even when the stock market moves against him!
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