Smartstop Self Storage REIT (NYSE:SMA) Shares Gap Down After Analyst Downgrade

Shares of Smartstop Self Storage REIT Inc (NYSE:SMA) gapped down before the market opened on Tuesday after Freedom Broker downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $39.69, but opened at $37.40. Freedom Broker now has a $40.00 price target on the stock, up from their previous price target of $38.00. Smartstop Self Storage REIT shares last traded at $37.68, with a volume of 1,474,263 shares trading hands.

SMA has been the subject of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Smartstop Self Storage REIT in a research note on Wednesday, October 14th. KeyCorp increased their target price on Smartstop Self Storage REIT from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday. Raymond James Financial began coverage on Smartstop Self Storage REIT in a report on Wednesday, July 15th. They issued a “strong-buy” rating and a $39.00 price target for the company. JPMorgan Chase & Co. raised their price target on Smartstop Self Storage REIT from $33.00 to $34.00 and gave the stock an “underweight” rating in a report on Monday, September 21st. Finally, BMO Capital Markets cut Smartstop Self Storage REIT from an “outperform” rating to a “market perform” rating and set a $38.00 price target for the company. in a research report on Thursday, August 27th. Two 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 given a Sell rating to the stock. According to MarketBeat, Smartstop Self Storage REIT presently has an average rating of “Moderate Buy” and an average target price of $37.25.

Insider Buying and Selling at Smartstop Self Storage REIT

In other news, General Counsel Nicholas Look sold 1,025 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $34.36, for a total value of $35,219.00. Following the sale, the general counsel directly owned 588 shares of the company’s stock, valued at approximately $20,203.68. This represents a 63.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 2,300 shares of company stock worth $77,604 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Smartstop Self Storage REIT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Smartstop Self Storage REIT during the 2nd quarter valued at about $2,049,000. Irenic Capital Management LP purchased a new position in shares of Smartstop Self Storage REIT during the second quarter worth about $28,490,000. Quantinno Capital Management LP grew its holdings in shares of Smartstop Self Storage REIT by 449.6% during the first quarter. Quantinno Capital Management LP now owns 93,930 shares of the healthcare company’s stock worth $2,844,000 after purchasing an additional 76,839 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Smartstop Self Storage REIT by 25.6% in the first quarter. Principal Financial Group Inc. now owns 2,596,133 shares of the healthcare company’s stock worth $78,611,000 after purchasing an additional 528,974 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Smartstop Self Storage REIT by 78.6% in the first quarter. Swiss National Bank now owns 109,500 shares of the healthcare company’s stock worth $3,316,000 after purchasing an additional 48,200 shares during the last quarter.

Smartstop Self Storage REIT Stock Performance

The company’s 50-day moving average is $33.71 and its two-hundred day moving average is $32.77. The company has a market capitalization of $2.09 billion, a P/E ratio of 64.88 and a beta of 0.27. The company has a quick ratio of 5.28, a current ratio of 5.28 and a debt-to-equity ratio of 0.89.

Smartstop Self Storage REIT (NYSE:SMA) last announced its earnings results on Wednesday, November 4th. The healthcare company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.34). Smartstop Self Storage REIT had a net margin of 10.52% and a return on equity of 2.63%. The company had revenue of $81.78 million for the quarter. Equities analysts anticipate that Smartstop Self Storage REIT Inc will post 2.03 earnings per share for the current fiscal year.

Smartstop Self Storage REIT Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.1315 per share. This is a decrease from Smartstop Self Storage REIT’s previous monthly dividend of $0.1359. The ex-dividend date is Monday, November 30th. This represents a $1.58 annualized dividend and a dividend yield of 4.2%. Smartstop Self Storage REIT’s dividend payout ratio is 281.03%.

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.