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

Smartstop Self Storage REIT (NYSE:SMA) posted its quarterly earnings data on Wednesday. The healthcare company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01, reports. Smartstop Self Storage REIT had a return on equity of 2.33% and a net margin of 9.68%. The company had revenue of $81.78 million during the quarter.

Smartstop Self Storage REIT Price Performance

Shares of SMA stock traded down $0.07 during trading hours on Thursday, hitting $38.08. The company had a trading volume of 332,943 shares, compared to its average volume of 775,645. Smartstop Self Storage REIT has a 12 month low of $29.41 and a 12 month high of $39.48. 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’s fifty day moving average is $33.38 and its 200 day moving average is $32.68. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 74.66 and a beta of 0.27.

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 paid a $0.1315 dividend. The ex-dividend date is Monday, November 30th. This represents a $1.58 annualized dividend and a dividend yield of 4.1%. This is a decrease from Smartstop Self Storage REIT’s previous monthly dividend of $0.1359. Smartstop Self Storage REIT’s dividend payout ratio is currently 319.61%.

Insiders Place Their Bets

In other Smartstop Self Storage REIT news, General Counsel Nicholas Look sold 1,025 shares of the 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 represents a 63.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 2,300 shares of company stock valued at $77,604 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Smartstop Self Storage REIT

Institutional investors and hedge funds have recently made changes to their positions in the company. Compass Financial Management LLC bought a new stake in shares of Smartstop Self Storage REIT during the second quarter worth $38,000. KBC Group NV bought a new position in shares of Smartstop Self Storage REIT in the first quarter valued at about $49,000. Assetmark Inc. lifted its position in Smartstop Self Storage REIT by 68.0% during the 1st quarter. Assetmark Inc. now owns 1,704 shares of the healthcare company’s stock worth $52,000 after buying an additional 690 shares in the last quarter. Allworth Financial LP lifted its position in Smartstop Self Storage REIT by 61.4% during the 2nd 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 bought a new stake in Smartstop Self Storage REIT during the 2nd quarter worth about $82,000.

Wall Street Analysts Forecast Growth

SMA has been the topic of several research analyst reports. Truist Financial lowered shares of Smartstop Self Storage REIT from a “buy” rating to a “hold” rating and decreased their price target for the stock from $36.00 to $33.00 in a research report on Thursday, October 1st. National Bank Financial boosted their price target on Smartstop Self Storage REIT from $38.50 to $39.25 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. 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 report on Thursday, August 27th. Robert W. Baird cut their price target on Smartstop Self Storage REIT from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, October 2nd. Finally, Raymond James Financial started coverage on Smartstop Self Storage REIT in a research report on Wednesday, July 15th. They issued 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 given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Smartstop Self Storage REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.42.

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.