Wells Fargo Downgrades SmartStop Self Storage REIT, Inc. (SMA) to Equal Weight and Lowers its price target to $33

Wells Fargo downgraded SmartStop Self Storage REIT, Inc. (SMA) to Equal Weight from Overweight and lowered its price target to $33 from $41, citing caution ahead of Q4 earnings and an expected slowdown in same-store revenue growth. Scotiabank and Truist also recently trimmed their price targets for SMA, though they maintain Outperform and Buy ratings respectively, noting improving fundamentals in the REIT sector. Truist, while neutral on self-storage, is relatively bullish on other REIT segments like healthcare and industrial.