Black Americans have been underrepresented in the business world for quite some time. However, those statistics are changing and more Black-owned companies are coming up in various industries.
Black people now have options in investments and can buy stocks in companies that represent them and what they stand for. If you have been looking for publicly traded Black businesses to invest in this year, here are five of the best.
American Shared Hospital Services (AMS)
AMS is a publicly traded black-owned company in the healthcare industry. The company focuses on the technological side of the industry, where it provides medical equipment for various medical centers and hospitals.
AMS provides state-of-the-art medical equipment to medical institutions through various financing scenarios, making this otherwise out-of-reach equipment available to most hospitals. Therefore, investing in AMS is a great way to support the distribution of technological equipment to hospitals and support a Black business.
Broadway Financial Corp
Besides being a publicly traded company, Broadway Financial Corp is also a Community Development Financial Institution (CDFI) that Black-owned businesses can use as a funding option. It was founded in 1947 and had a total revenue of $25.61 million in 2022.
With earnings of about $0.06 and its dedication to serving minority groups in terms of financial aid, Broadway Financial Corp is a company worth investing in. The holding company’s headquarters are in Los Angeles.
Urban One
Urban One was originally known as Radio One and had a single broadcasting station. The company has grown into a multimedia conglomerate with about $1.25 billion in total assets. Cathy Hughes, the founder, was the first Black woman to lead a publicly traded company.
The company keeps adding more brands to its name, which is a good reason for any Black investor to add it to their portfolio.
RLJ Lodging Trust
RLJ is a Real Estate Investment Trust whose main focus is hospitality. The trust has over 103 hotels in various states and currently trades at about $0.10 per share. RLJ first appeared on the New York Stock Exchange as a publicly traded company in May 2011.
Even after the big COVID blow in the hospitality industry, the company still managed to amass a total revenue of $891.47 million by the end of September 2022.
Ping Identity Holding
Ping Identity Holding recently became a publicly traded company when Vista Equity Partners bought it from its original owners. They provide various digital and online identity protection services to some of the largest healthcare companies and U.S. banks. In September 2022, their earnings per share were $0.81.
Conclusion
Investing in publicly traded Black-owned companies is a lucrative and supportive way of spending your money. These companies represent the values and views of the Black community and serve as a great example to young entrepreneurs.
They are also making huge profits and big business moves that will likely help you grow your investments. However, you should check out the companies’ information before making any official investments to ensure you know their financial goals and current standing.
