Bank of America Corp DE Increases Stock Position in Smartstop Self Storage REIT Inc $SMA

Key Points

• Bank of America increased its Smartstop Self Storage REIT position by 53.4% in the first quarter, bringing its holdings to 222,586 shares valued at approximately $6.74 million. Several other institutional investors also expanded their positions.
• Smartstop reported quarterly EPS of $0.20, missing the analyst consensus of $0.49, while revenue reached $79.28 million. The stock opened at $33.90, with a 52-week range of $29.41 to $39.77.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $36.47. The company also declared a monthly dividend of $0.1359, representing a reported yield of about 4.8%.

Bank of America Corp DE boosted its holdings in Smartstop Self Storage REIT Inc (NYSE:SMA - Free Report) by 53.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,586 shares of the healthcare company's stock after acquiring an additional 77,479 shares during the quarter. Bank of America Corp DE owned 0.40% of Smartstop Self Storage REIT worth $6,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Amundi bought a new position in shares of Smartstop Self Storage REIT during the first quarter valued at $714,000. California State Teachers Retirement System increased its holdings in Smartstop Self Storage REIT by 134.7% in the 1st quarter. California State Teachers Retirement System now owns 69,654 shares of the healthcare company's stock worth $2,109,000 after buying an additional 39,975 shares in the last quarter. Royal Bank of Canada raised its position in Smartstop Self Storage REIT by 36.5% in the 1st quarter. Royal Bank of Canada now owns 72,318 shares of the healthcare company's stock worth $2,190,000 after buying an additional 19,321 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Smartstop Self Storage REIT by 26.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 23,099 shares of the healthcare company's stock worth $699,000 after buying an additional 4,830 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Smartstop Self Storage REIT by 449.6% in the 1st quarter. Quantinno Capital Management LP now owns 93,930 shares of the healthcare company's stock worth $2,844,000 after buying an additional 76,839 shares during the last quarter.

Insider Activity

In other news, General Counsel Nicholas Look sold 1,025 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $34.36, for a total value of $35,219.00. Following the completion of the sale, the general counsel directly owned 588 shares of the company's stock, valued at $20,203.68. This represents a 63.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,875 shares of company stock valued at $63,328 over the last three months. Corporate insiders own 5.70% of the company's stock.

Smartstop Self Storage REIT Stock Down 0.4%

NYSE SMA opened at $33.90 on Thursday. Smartstop Self Storage REIT Inc has a 52 week low of $29.41 and a 52 week high of $39.77. The company has a quick ratio of 5.28, a current ratio of 5.28 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.88 billion, a P/E ratio of 66.47 and a beta of 0.50. The stock's 50-day moving average price is $33.70 and its 200-day moving average price is $32.49.

Smartstop Self Storage REIT (NYSE:SMA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.29). The company had revenue of $79.28 million for the quarter. Smartstop Self Storage REIT had a net margin of 9.68% and a return on equity of 2.33%. Smartstop Self Storage REIT has set its FY 2026 guidance at 1.980-2.040 EPS. On average, equities research analysts predict that Smartstop Self Storage REIT Inc will post 2 earnings per share for the current year.

Smartstop Self Storage REIT Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.1359 dividend. The ex-dividend date is Monday, August 31st. This is an increase from Smartstop Self Storage REIT's previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. Smartstop Self Storage REIT's dividend payout ratio (DPR) is currently 319.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMA. Zacks Research raised shares of Smartstop Self Storage REIT from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. National Bank Financial increased their price objective on shares of Smartstop Self Storage REIT from $38.50 to $39.25 and gave the company an "outperform" rating in a research report on Tuesday, August 18th. Raymond James Financial started coverage on shares of Smartstop Self Storage REIT in a report on Wednesday, July 15th. They issued a "strong-buy" rating and a $39.00 target price on the stock. Weiss Ratings raised shares of Smartstop Self Storage REIT from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 16th. Finally, Robert W. Baird boosted their target price on shares of Smartstop Self Storage REIT from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.47.

Smartstop Self Storage REIT Company Profile

Symmetry Medical Inc (Symmetry) is a medical device solutions company, including surgical instruments, orthopedic implants, and sterilization cases and trays. The Company designs, develops and offers worldwide production and supply chain capabilities for these products to customers in the orthopedic industry, and other medical device markets (including but not limited to arthroscopy, dental, laparoscopy, osteobiologic, and endoscopy segments). It also manufactures specialized non-healthcare products, primarily in the aerospace industry.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source