Smartstop Self Storage REIT (NYSE:SMA – Get Free Report) issued its quarterly earnings results on Wednesday. The healthcare company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01, Zacks reports. 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 Trading Up 3.8%
Shares of NYSE SMA traded up $1.39 during mid-day trading on Wednesday, reaching $38.04. 953,256 shares of the company’s stock were exchanged, compared to its average volume of 777,894. The company’s 50-day moving average is $33.30 and its 200-day moving average is $32.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.28 and a current ratio of 5.28. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 74.59 and a beta of 0.27. Smartstop Self Storage REIT has a 52-week low of $29.41 and a 52-week high of $38.15.
Smartstop Self Storage REIT Cuts Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $0.1315 dividend. This is a drop from Smartstop Self Storage REIT’s previous monthly dividend of $0.1359. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.58 annualized dividend and a dividend yield of 4.1%. Smartstop Self Storage REIT’s dividend payout ratio is currently 319.61%.
Insider Activity at Smartstop Self Storage REIT
In other news, General Counsel Nicholas Look sold 1,025 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $34.36, for a total transaction of $35,219.00. Following the completion of the transaction, the general counsel directly owned 588 shares in the company, valued at $20,203.68. This trade represents a 63.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 2,300 shares of company stock valued at $77,604. Corporate insiders own 5.70% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in Smartstop Self Storage REIT during the second quarter worth about $2,049,000. Irenic Capital Management LP acquired a new stake in shares of Smartstop Self Storage REIT during the 2nd quarter valued at approximately $28,490,000. Quantinno Capital Management LP lifted its position in shares of Smartstop Self Storage REIT by 449.6% during the 1st quarter. Quantinno Capital Management LP now owns 93,930 shares of the healthcare company’s stock valued at $2,844,000 after acquiring an additional 76,839 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Smartstop Self Storage REIT by 25.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,596,133 shares of the healthcare company’s stock worth $78,611,000 after acquiring an additional 528,974 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Smartstop Self Storage REIT by 78.6% during the 1st quarter. Swiss National Bank now owns 109,500 shares of the healthcare company’s stock worth $3,316,000 after acquiring an additional 48,200 shares in the last quarter.
Wall Street Analyst Weigh In
A number of analysts have recently commented on SMA shares. BMO Capital Markets cut Smartstop Self Storage REIT from an “outperform” rating to a “market perform” rating and set a $38.00 price objective for the company. in a research report on Thursday, August 27th. Truist Financial cut shares of Smartstop Self Storage REIT from a “buy” rating to a “hold” rating and dropped their price target for the company from $36.00 to $33.00 in a research note on Thursday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Smartstop Self Storage REIT in a report on Wednesday, October 14th. 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 research report on Monday, September 21st. Finally, Raymond James Financial assumed coverage on shares of Smartstop Self Storage REIT in a research report on Wednesday, July 15th. They set a “strong-buy” rating and a $39.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.42.
Read Our Latest Stock Analysis on SMA
About Smartstop Self Storage REIT
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.
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