Smartstop Self Storage REIT (NYSE:SMA) Price Target Raised to $42.00

Smartstop Self Storage REIT (NYSE:SMA) had its price objective increased by KeyCorp from $40.00 to $42.00 in a research report sent to investors on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the healthcare company’s stock.

A number of other equities analysts have also recently issued reports on SMA. Wells Fargo & Company upped their price target 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. Robert W. Baird reduced their price objective 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. Truist Financial cut shares of Smartstop Self Storage REIT from a “buy” rating to a “hold” rating and decreased their target price for the stock from $36.00 to $33.00 in a report on Thursday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smartstop Self Storage REIT in a report on Wednesday, October 14th. Finally, Raymond James Financial began coverage on shares of Smartstop Self Storage REIT in a research note on Wednesday, July 15th. They issued a “strong-buy” rating and a $39.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

Smartstop Self Storage REIT Stock Performance

Shares of SMA opened at $38.86 on Monday. The company has a quick ratio of 5.28, a current ratio of 4.20 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.15 billion, a P/E ratio of 18.94 and a beta of 0.27. The business’s 50 day moving average price is $33.96 and its 200-day moving average price is $32.83. 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 posted its quarterly earnings data on Wednesday, November 4th. The healthcare company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.34). The company had revenue of $81.78 million for the quarter. Smartstop Self Storage REIT had a net margin of 10.52% and a return on equity of 2.64%. Equities research analysts anticipate that Smartstop Self Storage REIT will post 2.03 earnings per share for the current fiscal year.

Smartstop Self Storage REIT Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.1315 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 30th. This is a negative change from Smartstop Self Storage REIT’s previous monthly dividend of $0.1359. Smartstop Self Storage REIT’s dividend payout ratio is 281.03%.

Insider Buying and Selling at Smartstop Self Storage REIT

In other news, General Counsel Nicholas Look sold 1,025 shares of the business’s stock in a transaction 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 completion of the transaction, the general counsel owned 588 shares in the company, valued at $20,203.68. The trade was a 63.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 2,300 shares of company stock valued at $77,604 in the last three months. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Heartland Advisors Inc. purchased a new position in Smartstop Self Storage REIT in the 3rd quarter worth about $4,344,000. Silver Oak Securities Incorporated lifted its stake in Smartstop Self Storage REIT by 82.3% during the 3rd quarter. Silver Oak Securities Incorporated now owns 8,046 shares of the healthcare company’s stock valued at $259,000 after acquiring an additional 3,632 shares during the period. Allworth Financial LP lifted its stake in Smartstop Self Storage REIT by 61.4% during the 3rd quarter. Allworth Financial LP now owns 2,886 shares of the healthcare company’s stock valued at $94,000 after acquiring an additional 1,098 shares during the period. Russell Investments Group Ltd. lifted its stake 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 acquiring an additional 117,456 shares during the period. Finally, Keybank National Association OH purchased a new stake in shares of Smartstop Self Storage REIT during the 3rd quarter valued at about $251,000.

Smartstop Self Storage REIT Company Profile

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.