Smartstop Self Storage REIT (NYSE:SMA) Stock Price Expected to Rise, KeyCorp Analyst Says

Key Points

• KeyCorp raised its price target on SmartStop Self Storage REIT to $42 from $40 and maintained an “overweight” rating, implying 7.77% upside from the prior close.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and a $36.98 average price target, with ratings ranging from strong buy to sell.
• SmartStop reported quarterly EPS of $0.16, missing the $0.50 consensus estimate by $0.34; quarterly revenue was $81.78 million.

Smartstop Self Storage REIT (NYSE:SMA - Get Free Report) had its price objective upped by research analysts at KeyCorp from $40.00 to $42.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the healthcare company's stock. KeyCorp's price objective indicates a potential upside of 7.77% from the stock's previous close.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price target on Smartstop Self Storage REIT from $33.00 to $34.00 and gave the stock an "underweight" rating in a research note on Monday, September 21st. BMO Capital Markets lowered shares of Smartstop Self Storage REIT from an "outperform" rating to a "market perform" rating and set a $38.00 price objective for the company. in a research report on Thursday, August 27th. National Bank Financial lifted their target price on shares of Smartstop Self Storage REIT from $38.50 to $39.25 and gave the stock an "outperform" rating in a research note on Tuesday, August 18th. Truist Financial downgraded shares of Smartstop Self Storage REIT from a "buy" rating to a "hold" rating and dropped their target price for the stock from $36.00 to $33.00 in a research report on Thursday, October 1st. Finally, Raymond James Financial assumed coverage on shares of Smartstop Self Storage REIT in a research note on Wednesday, July 15th. They set a "strong-buy" rating and a $39.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Smartstop Self Storage REIT currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.98.

Smartstop Self Storage REIT Stock Performance

Shares of SMA opened at $38.97 on Monday. The company has a current ratio of 4.20, a quick ratio of 5.28 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.16 billion, a PE ratio of 67.19 and a beta of 0.27. Smartstop Self Storage REIT has a 12 month low of $29.41 and a 12 month high of $39.48. The stock has a fifty day moving average price of $33.58 and a 200-day moving average price of $32.73.

Smartstop Self Storage REIT (NYSE:SMA - Get Free Report) last announced its earnings results on Wednesday, November 4th. The healthcare company reported $0.16 earnings per share 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. Equities research analysts predict that Smartstop Self Storage REIT will post 2.03 earnings per share for the current fiscal year.

Insider Activity at Smartstop Self Storage REIT

In related news, General Counsel Nicholas Look sold 1,025 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $34.36, for a total value of $35,219.00. Following the sale, the general counsel owned 588 shares in the company, valued at $20,203.68. This represents a 63.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,300 shares of company stock worth $77,604 over the last three months. Insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Smartstop Self Storage REIT

A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Smartstop Self Storage REIT by 25.6% during 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 buying an additional 528,974 shares during the last quarter. Irenic Capital Management LP acquired a new position in shares of Smartstop Self Storage REIT in the 2nd quarter valued at about $28,490,000. Conversant Capital LLC purchased a new stake in shares of Smartstop Self Storage REIT in the first quarter worth about $25,972,000. Independent Financial Group LLC purchased a new stake in shares of Smartstop Self Storage REIT in the first quarter worth about $10,689,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Smartstop Self Storage REIT by 98.1% in the third quarter. Russell Investments Group Ltd. now owns 237,187 shares of the healthcare company's stock worth $7,637,000 after buying an additional 117,456 shares during 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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