Smartstop Self Storage REIT (NYSE:SMA) Price Target Raised to $41.00

Key Points

• Truist raised its price target on SmartStop Self Storage REIT to $41 from $33 but maintained a Hold rating; the new target implied 3.84% upside from the prior close.
• Analyst views are mixed, with a consensus Moderate Buy rating and average price target of $37.98. Shares recently traded at $39.48, near their 12-month high of $40.35.
• The REIT reported quarterly EPS of $0.16, missing the $0.50 consensus estimate, on revenue of $81.78 million.

Smartstop Self Storage REIT (NYSE:SMA - Get Free Report) had its target price hoisted by research analysts at Truist Financial from $33.00 to $41.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a "hold" rating on the healthcare company's stock. Truist Financial's price objective would indicate a potential upside of 3.84% from the company's previous close.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Smartstop Self Storage REIT from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Friday, October 2nd. Wells Fargo & Company boosted their price objective on shares of Smartstop Self Storage REIT from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 1st. KeyCorp increased their price objective on Smartstop Self Storage REIT from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Monday. Freedom Broker lowered Smartstop Self Storage REIT from a "buy" rating to a "hold" rating and raised their target price for the stock from $38.00 to $40.00 in a research report on Monday. Finally, Raymond James Financial started coverage on Smartstop Self Storage REIT in a research report on Wednesday, July 15th. They set a "strong-buy" rating and a $39.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $37.98.

Smartstop Self Storage REIT Trading Up 1.5%

Shares of Smartstop Self Storage REIT stock traded up $0.57 on Thursday, hitting $39.48. The stock had a trading volume of 780,598 shares, compared to its average volume of 806,860. The stock has a 50 day moving average of $33.96 and a 200 day moving average of $32.83. The firm has a market capitalization of $2.19 billion, a P/E ratio of 68.07 and a beta of 0.27. Smartstop Self Storage REIT has a twelve month low of $29.41 and a twelve month high of $40.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 5.28 and a current ratio of 4.20.

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

Insiders Place Their Bets

In other Smartstop Self Storage REIT news, General Counsel Nicholas Look sold 1,025 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $34.36, for a total transaction of $35,219.00. Following the completion of the transaction, the general counsel owned 588 shares in the company, valued at approximately $20,203.68. This trade represents a 63.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 2,300 shares of company stock worth $77,604. Corporate insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Smartstop Self Storage REIT by 25.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,596,133 shares of the healthcare company's stock valued at $78,611,000 after purchasing an additional 528,974 shares during the last quarter. Irenic Capital Management LP acquired a new position in Smartstop Self Storage REIT in the second quarter valued at $28,490,000. Conversant Capital LLC acquired a new position in Smartstop Self Storage REIT in the first quarter valued at $25,972,000. Independent Financial Group LLC bought a new stake in Smartstop Self Storage REIT during the first quarter valued at $10,689,000. Finally, GSI Capital Advisors LLC bought a new stake in Smartstop Self Storage REIT during the third quarter valued at $8,887,000.

About Smartstop Self Storage REIT

SmartStop Self Storage REIT, Inc. is a real estate investment trust that owns and operates self-storage properties. Its facilities provide storage space for household and business customers, with services that may include online rentals and the sale of moving and packing supplies. The company's portfolio serves customers in the United States and Canada. SmartStop also acquires and develops self-storage properties as part of its strategy to expand its operations. SmartStop was founded by H. Michael Schwartz, who has served as the company's chief executive officer.

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