Smartstop Self Storage REIT (NYSE:SMA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Smartstop Self Storage REIT (NYSE:SMA) announced its quarterly earnings results on Wednesday. The healthcare company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01, reports. 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 2.63%.

Smartstop Self Storage REIT Stock Performance

Smartstop Self Storage REIT stock traded up $0.04 on Friday, reaching $38.74. 377,106 shares of the stock were exchanged, compared to its average volume of 776,168. The stock has a market cap of $2.15 billion, a PE ratio of 66.80 and a beta of 0.27. The company has a current ratio of 5.28, a quick ratio of 5.28 and a debt-to-equity ratio of 0.89. Smartstop Self Storage REIT has a twelve month low of $29.41 and a twelve month high of $39.48. The firm has a fifty day moving average price of $33.47 and a two-hundred day moving average price of $32.71.

Smartstop Self Storage REIT Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.1315 dividend. This is a drop 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 yield of 4.1%. Smartstop Self Storage REIT’s payout ratio is 270.69%.

Wall Street Analyst Weigh In

SMA has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped 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 report on Monday, September 21st. Truist Financial lowered Smartstop Self Storage REIT from a “buy” rating to a “hold” rating and cut their target price for the company from $36.00 to $33.00 in a report on Thursday, October 1st. 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. Robert W. Baird reduced their price target on 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. Finally, Wells Fargo & Company upped their price target on 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. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Smartstop Self Storage REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.42.

Insider Transactions at Smartstop Self Storage REIT

In other news, General Counsel Nicholas Look sold 1,025 shares of the firm’s stock in a transaction dated 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 directly owned 588 shares of the company’s stock, valued at approximately $20,203.68. This trade represents a 63.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 2,300 shares of company stock worth $77,604 in the last three months. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Smartstop Self Storage REIT

A number of institutional investors and hedge funds have recently bought and sold shares of SMA. Principal Financial Group Inc. lifted its position in 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 period. Irenic Capital Management LP acquired a new stake in Smartstop Self Storage REIT during the second quarter worth $28,490,000. Conversant Capital LLC bought a new stake in Smartstop Self Storage REIT in the 1st quarter valued at $25,972,000. Independent Financial Group LLC bought a new stake in Smartstop Self Storage REIT in the 1st quarter valued at $10,689,000. Finally, Russell Investments Group Ltd. increased its holdings in Smartstop Self Storage REIT by 98.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 237,187 shares of the healthcare company’s stock valued at $7,637,000 after buying an additional 117,456 shares during the period.

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.