Smartstop Self Storage REIT (NYSE:SMA) Cut to Hold at Freedom Broker

Key Points

• Freedom Broker downgraded SmartStop Self Storage REIT to Hold from Buy, while raising its price target from $38 to $40—implying roughly 0.05% downside from the prior close.
• Analyst sentiment overall remains “Moderate Buy,” with a consensus price target of $37.25; ratings include two Strong Buys, four Buys, six Holds, and one Sell.
• The company reported quarterly EPS of $0.16, below the $0.50 analyst consensus, on revenue of $81.78 million. Shares rose 2.8% to $40.02 in Monday midday trading.

Smartstop Self Storage REIT (NYSE:SMA - Get Free Report) was downgraded by Freedom Broker from a "buy" rating to a "hold" rating in a research report issued on Monday, Benzinga reports. They currently have a $40.00 target price on the healthcare company's stock, up from their previous target price of $38.00. Freedom Broker's price objective would suggest a potential downside of 0.05% from the stock's previous close.

Several other equities research analysts also recently weighed in on the stock. National Bank Financial increased their target price on shares of Smartstop Self Storage REIT from $38.50 to $39.25 and gave the company an "outperform" rating in a research note on Tuesday, August 18th. Truist Financial cut shares of Smartstop Self Storage REIT from a "buy" rating to a "hold" rating and dropped their price target for the stock from $36.00 to $33.00 in a research note on Thursday, October 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Smartstop Self Storage REIT in a report on Wednesday, October 14th. JPMorgan Chase & Co. upped their price target on shares of Smartstop Self Storage REIT from $33.00 to $34.00 and gave the company an "underweight" rating in a report on Monday, September 21st. Finally, Raymond James Financial assumed coverage on Smartstop Self Storage REIT in a report on Wednesday, July 15th. They set a "strong-buy" rating and a $39.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $37.25.

Smartstop Self Storage REIT Trading Up 2.8%

NYSE:SMA traded up $1.10 during midday trading on Monday, hitting $40.02. 380,501 shares of the company traded hands, compared to its average volume of 775,945. The firm's fifty day moving average is $33.58 and its 200-day moving average is $32.73. Smartstop Self Storage REIT has a 12-month low of $29.41 and a 12-month high of $40.35. The firm has a market capitalization of $2.22 billion, a P/E ratio of 69.03 and a beta of 0.27. The company has a current ratio of 4.20, a quick ratio of 5.28 and a debt-to-equity ratio of 0.91.

Smartstop Self Storage REIT (NYSE:SMA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The healthcare company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.34). The company had revenue of $81.78 million during the quarter. Smartstop Self Storage REIT had a return on equity of 2.64% and a net margin of 10.52%. On average, sell-side analysts predict that Smartstop Self Storage REIT will post 2.03 EPS for the current year.

Insider Transactions at Smartstop Self Storage REIT

In other Smartstop Self Storage REIT news, General Counsel Nicholas Look sold 1,025 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $34.36, for a total transaction of $35,219.00. Following the transaction, the general counsel directly owned 588 shares in the company, valued at $20,203.68. This trade represents a 63.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 2,300 shares of company stock valued at $77,604 over the last quarter. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Smartstop Self Storage REIT

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Smartstop Self Storage REIT by 61.4% in the third quarter. Allworth Financial LP now owns 2,886 shares of the healthcare company's stock worth $94,000 after acquiring an additional 1,098 shares during the period. Russell Investments Group Ltd. increased its position in Smartstop Self Storage REIT by 98.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 237,187 shares of the healthcare company's stock valued at $7,637,000 after purchasing an additional 117,456 shares during the period. Keybank National Association OH purchased a new position in Smartstop Self Storage REIT during the 3rd quarter valued at about $251,000. CenterBook Partners LP purchased a new position in Smartstop Self Storage REIT during the 3rd quarter valued at about $598,000. Finally, Kestra Advisory Services LLC raised its holdings in shares of Smartstop Self Storage REIT by 12.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 82,901 shares of the healthcare company's stock valued at $2,669,000 after purchasing an additional 9,018 shares in the last quarter.

About Smartstop Self Storage REIT

SmartStop Self Storage REIT, Inc NYSE: SMA is a self-managed real estate investment trust focused on owning, operating and acquiring self-storage properties. Its facilities provide individuals and businesses with storage units in a range of sizes, along with related services such as online reservations, electronic access and tenant protection offerings.

The company serves customers primarily in the United States and also has exposure to the Canadian self-storage market. Its portfolio includes conventional self-storage facilities and properties offering vehicle, commercial and other specialized storage options.

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