SmartStop Self Storage initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of SmartStop Self Storage (SMA) with an Overweight rating and $36 price target SmartStop is a real estate investment with a national footprint in the U.S., and exposure to the Greater Toronto Area, “which is differentiated,” the analyst tells investors in a research note. The firm says its constructive outlook for the stock is largely due to a discounted key valuation metric, or implied cap rate, and the company’s near-term relative growth prospects.