Smartstop Self Storage REIT (NYSE:SMA) Reaches New 1-Year High on Earnings Beat

Smartstop Self Storage REIT Inc (NYSE:SMA)’s share price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $39.48 and last traded at $37.99, with a volume of 79,237 shares changing hands. The stock had previously closed at $38.14.

The healthcare company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $81.78 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 Cuts Dividend

The company also recently declared 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 represents a $1.58 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 30th. This is a drop from Smartstop Self Storage REIT’s previous monthly dividend of $0.1359. Smartstop Self Storage REIT’s dividend payout ratio is presently 319.61%.

Analyst Ratings Changes

A number of research firms recently commented on SMA. National Bank Financial upped their price objective on Smartstop Self Storage REIT from $38.50 to $39.25 and gave the company an “outperform” rating in a report on Tuesday, August 18th. BMO Capital Markets downgraded Smartstop Self Storage REIT from an “outperform” rating to a “market perform” rating and set a $38.00 target price on the stock. in a research report on Thursday, August 27th. Raymond James Financial assumed coverage on Smartstop Self Storage REIT in a research report on Wednesday, July 15th. They issued a “strong-buy” rating and a $39.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smartstop Self Storage REIT in a research note on Wednesday, October 14th. Finally, Truist Financial cut Smartstop Self Storage REIT from a “buy” rating to a “hold” rating and lowered their price target for the stock from $36.00 to $33.00 in a report on Thursday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.42.

Insider Activity at Smartstop Self Storage REIT

In other news, General Counsel Nicholas Look sold 1,025 shares of Smartstop Self Storage REIT 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 sale, the general counsel directly owned 588 shares of the company’s stock, valued at approximately $20,203.68. The trade was 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 this hyperlink. Insiders sold 2,300 shares of company stock worth $77,604 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Smartstop Self Storage REIT

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

Smartstop Self Storage REIT Stock Performance

The stock has a 50-day moving average price of $33.38 and a 200 day moving average price of $32.68. 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 firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 75.20 and a beta of 0.27.

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.