Smartstop Self Storage REIT (NYSE:SMA) Rating Lowered to “Hold” at Freedom Broker

Smartstop Self Storage REIT (NYSE:SMA) was downgraded by equities research analysts at Freedom Broker from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price target on the healthcare company’s stock, up from their previous price target of $38.00. Freedom Broker‘s price target suggests a potential downside of 0.05% from the company’s current price.

Several other equities analysts have also issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Smartstop Self Storage REIT in a research note on Wednesday, October 14th. Robert W. Baird decreased 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 report on Friday, October 2nd. National Bank Financial raised their price target on shares of Smartstop Self Storage REIT from $38.50 to $39.25 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Truist Financial downgraded shares of Smartstop Self Storage REIT from a “buy” rating to a “hold” rating and cut their price objective for the stock from $36.00 to $33.00 in a research report on Thursday, October 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Smartstop Self Storage REIT presently has an average rating of “Moderate Buy” and an average target price of $37.25.

Smartstop Self Storage REIT Stock 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 company has a debt-to-equity ratio of 0.91, a current ratio of 4.20 and a quick ratio of 5.28. The company has a market cap of $2.22 billion, a PE ratio of 69.03 and a beta of 0.27. The company’s 50-day simple moving average is $33.58 and its 200-day simple moving average is $32.73. Smartstop Self Storage REIT has a 52 week low of $29.41 and a 52 week high of $40.35.

Smartstop Self Storage REIT (NYSE:SMA) last released its quarterly 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). 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%. As a group, equities research analysts forecast that Smartstop Self Storage REIT will post 2.03 earnings per share for the current year.

Insider Activity

In related news, General Counsel Nicholas Look sold 1,025 shares of the stock in a transaction that occurred 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 transaction, the general counsel directly owned 588 shares of the company’s stock, valued at $20,203.68. This trade represents a 63.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,300 shares of company stock worth $77,604 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Smartstop Self Storage REIT

Several large investors have recently bought and sold shares of SMA. Compass Financial Management LLC purchased a new position in Smartstop Self Storage REIT during the second quarter valued at approximately $38,000. KBC Group NV acquired a new position in Smartstop Self Storage REIT in the first quarter valued at approximately $49,000. Assetmark Inc. boosted its position in Smartstop Self Storage REIT by 68.0% in the 1st quarter. Assetmark Inc. now owns 1,704 shares of the healthcare company’s stock worth $52,000 after purchasing an additional 690 shares in the last quarter. Allworth Financial LP boosted its position in Smartstop Self Storage REIT by 61.4% in the 2nd quarter. Allworth Financial LP now owns 1,788 shares of the healthcare company’s stock worth $58,000 after purchasing an additional 680 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Smartstop Self Storage REIT in the 2nd quarter worth approximately $82,000.

Smartstop Self Storage REIT Company Profile

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.