KeyBanc analyst Todd Thomas initiated coverage of SmartStop Self Storage (SMA) with an Overweight rating and $38 price target While the self storage operating environment remains challenging, SmartStop has potential to generate outsized cash flow growth over time through improving its below-average operating margins, increasing scale through accretive on and off-balance sheet acquisitions and making ongoing investments in technology, the analyst tells investors in a research note. The firm expects the company’s managed real estate investment trust platform to aid in the expansion of the portfolio’s footprint in the near and medium term.
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