SmartStop Self Storage REIT, Inc. (SMA) has received a new Buy rating, initiated by Robert W. Baird analyst, Wes Golladay.
Wes Golladay’s rating is based on SmartStop Self Storage REIT, Inc.’s strategic positioning and growth potential. The company is well-placed to achieve robust earnings growth, with an attractive valuation that supports a positive outlook. Key growth drivers include expansion opportunities in the Canadian market, particularly in Toronto, and increasing density in various U.S. markets.
Additionally, the Managed REIT platform is expected to provide further investment opportunities, enhancing growth prospects. The company’s joint venture with SmartCentres offers development prospects, and acquiring assets is anticipated to improve operating margins by spreading costs over a larger portfolio. Despite some near-term economic uncertainties, the valuation remains appealing, with a price target implying a significant total return.
In another report released today, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SMA in relation to earlier this year.