Scotiabank has revised its price target for SmartStop Self Storage (SMA, Financial), increasing it to $41 from the previous $36 while maintaining an Outperform rating on the stock. This adjustment comes as part of the firm's broader evaluation of U.S. Real Estate & REITs following the first-quarter financial results. Despite experiencing some negative surprises in the quarterly performance, the results were largely in line with expectations, with most companies keeping their fiscal year 2025 guidance steady.
The firm highlights that real estate fundamentals traditionally lag behind economic shifts, prompting many analysts to consider the potential effects of a cooling economy on the performance in the latter half of 2025. Scotiabank also expresses a preference for SmartStop Self Storage due to its steady fundamentals.
