SmartStop downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded SmartStop Self Storage (SMA) to Equal Weight from Overweight with a price target of $33, down from $41. The firm is “slightly cautious” on the storage real estate investment trusts heading into the Q4 reports. The stocks have rallied on headline housing enthusiasm, but 2026 outlooks will likely come in slightly below Street expectations, the analyst tells investors in a research note. Wells says SmartStop’s same store revenue growth should notably decelerate in 2026.