7 Publicly Traded Black-Owned Companies to Invest In — Spotcovery
In recent years, there has been an increased focus on diversity in the corporate world. More and more people are looking to invest in companies that represent them and their values. This is especially true for black Americans, who have long been underrepresented in the business world. Fortunately, there are a number of publicly traded black-owned companies to invest in.
These companies span a variety of industries, from media to banking to finance. Here are 7 of the best publicly traded black-owned companies to consider investing in.
7 best publicly traded black-owned companies
1. RLJ Lodging Trust (RLJ)
RLJ Lodging Trust is a real estate investment trust (REIT) with its headquarters in Maryland, United States. This publicly traded, black-owned company owns a premium brand consisting of 103 hotels with 21,200 rooms in 23 states. RLJ’s primary target is urban communities right in the heart of populated cities.
Founded in 2000 by Robert L. Johnson, the black-owned business operates under famous global brands including Courtyard by Marriott, Residence Inn by Marriott, Hilton Garden Inn, and Embassy Suites, among others. Leslie D. Hale has been the CEO since August 2018.
The business became a publicly traded black-owned company on the New York Stock Exchange in May 2011 under the stock name RLJ. Its stock price is $11.72 with a market value of $1.9B.
At the end of the third quarter of 2022, it had recorded $318 million.
RLJ Lodging Trust
3 Bethesda Metro Center
Suite 1000
Bethesda, MD 20814
United States
301–280–7777
2. Urban One (UONE)
Urban One is a radio broadcasting company based in Silver Spring, Maryland, that was founded in October 1980. The company represents the black community with four different segments, Radio Broadcasting, Cable Television, Digital and Reach Media.
The media conglomerate is a successful, publicly traded, black-owned company with thriving subsidiaries across the United States. Reach Media runs some of the popular programs, including The DL Hughley Show, Get UP! Mornings with Erica Campbell Show, BlackAmericaWeb.com, and others. The Digital focuses on Interactive One while The Cable Television and Radio Broadcasting segments run TV One and Radio One respectively.
Urban One, founded by Cally Hughes, was formerly known as Radio One until May 2017. Fortunately for Cally, she is the first black woman to lead a publicly traded company.
The stock symbol for Urban One is UNOE on NASDAQ. It values at $239.247M with its stock price at $5.44. The company recorded $121.4M in the third quarter of 2022.
Urban One, Inc.
1010 Wayne Avenue
14th Floor
Silver Spring, MD 20910
United States
301 429 3200
3. American Shared Hospital Services (AMS)
Founded in 1980 and incorporated in 1983, American Shared Hospital Services specializes in the supply of medical equipment. They provide radiosurgery and radiation equipment to medical centers and healthcare providers.
With 100 years of experience in the healthcare sector, American Shared Hospital Services provides innovative financial support for radiosurgical and radiation therapy services. Prominent among their medical equipment is radiosurgery, PBRT, and IMRT/IGRT.
They have different financial solutions to help medical centers acquire new technologies for healthcare.
AMS is their ticker on the NYSE. As of September 2022, they had recorded $4.83M in revenue, representing a 17.78% increase against December 2021.
Operating income and net income were recorded at 697k and 316k, respectively.
These figures make AMS a publicly traded stock company to invest in.
American Shared Hospital Services
601 Montgomery Street
Suite 1112
San Francisco, CA 94111–2619
United States
415 788 5300
4. Axsome Therapeutics
Axsome Therapeutics is one of the largest biopharmaceutical companies worth putting your money into. It specializes in developing novel therapies for the central nervous system (CNS) in the US.
The company’s mission is to transform the CNS approach by developing therapeutic options that improve patients’ lives in a meaningful way. Their products are designed to treat migraines, fibromyalgia, and narcolepsy, among others.
Axsome Therapeutics is traded on NASDAQ with the ticker symbol AXSM. It is worth $3.5 billion.
Axsome Therapeutics, Inc.
22 Cortlandt Street
16th Floor
New York, NY 10007
United States
212 332 3241
5. Broadway Financial Corp
Broadway Financial Corp. was founded in 1946 and is currently based in Los Angeles. This black business was formed when banking institutions denied black businesses and individuals access to loans. It might have been a tough time, but Broadway Financial Corp. excelled and has been offering excellent services to the minority.
As a publicly traded black-owned company, it has subsidiaries that perform well in the financial market. They are four, namely: Broadway Federal Bank, CFBanc Corporation, Asset Management Arm, Citi First Bank, National Association, and Broadway Financial Corp. Employee Stock Ownership Plan Trust.
The bank offers residential and commercial real estate loans to businesses and individuals. It provides deposit products, such as savings accounts and checking accounts.
Broadway Financial Corp operates under the ticker BYFC on NASDAQ at a $0.88 stock price. It values at $68.13M
Broadway Financial Corporation
4601 Wilshire Boulevard
Suite 150
Los Angeles, CA 90010
United States
323 634 1700
6. Carver Bancorp (CARV)
Founded in 1948 by a group of civic-minded community leaders and headquartered in New York, Carver Bancorp offers financial services to African American communities. It is one of the few publicly traded black-owned companies on the exchange market you need to invest in today.
Inspired by limited access to mainstream financial services for black communities, the founders sought to help businesses, institutions, and residents save and grow generational wealth.
Their financial services range from personal, to business to lending, credit cards, and ATM services.
In support of their community development, the US Treasury Department has designated Carver as a Community Development Financial Institution (CDFI).
Traded on NASDAQ as CARV, it serves as a holding company for Carver Federal Savings Bank, providing consumer and commercial services. According to its website, it has supported more than 16,000 loans to small businesses through a liquidity partnership with a minority-owned fintech company.
Carvers Bancorp’s stock price is $4.13. The market value of Carver Bancorp is $17.07M at an annual revenue of $26.17M with half a month until the end of 2022.
Carver Bancorp, Inc.
75 West 125th Street
New York, NY 10027–4512
United States
718 230 2900
7. Citizens Bancshares Corporation
Finally on our list of black-owned publicly traded stocks is Citizen Bancshares Corporation. With over 100 years in the financial industry, Citizens Bancshares Corporation has a track record you can trust. This organization specializes in providing financial assistance to underserved communities.
Obviously, they primarily serve small businesses, commercial companies, individuals, and households.
Founded in 1921 by visionary black businessmen in Atlanta, Citizens Bancshares Corporation placed importance on financial inclusion. It provides a range of financial services, including mortgages, checking, and savings accounts. It also offers agriculture and commercial loans to its customers.
In addition, they provide investment accounts, certificates of deposit, and credit, gift, and debit cards.
Undoubtedly a successful black business in the banking industry, the company has two subsidiaries, namely Citizens Trust Bank (the Bank) and CTB Mortgage Services, Inc.
Citizen Bancshares Corporation’s stock symbol ticker is CZBS with a $28.49 stock price.
Citizens Bancshares Corporation
230 Peachtree Street, NW
Suite 2700
Atlanta, GA 30303
United States
678 406 4000
Traditionally, stock purchases have been used to accumulate wealth. And this could be your chance to obtain financial freedom.
With this list, finding and investing in publicly traded black-owned companies should be easier. Whether you want to invest in healthcare, media, or the financial industry, there are options for you to choose from.
People also read: Finding Black Financial Advisor: What You Need To Know
Originally published at https://spotcovery.com on December 18, 2022.
