Overview

* SmartStop Q3 net income rises to $5.2 mln

* Company's Q3 revenue increases by $9.2 mln year-over-year

Outlook

* SmartStop anticipates solid growth as storage sector fundamentals improve

* Company sees market conditions as variable despite sector stabilization

* SmartStop aims to leverage its technology-driven platform to capture demand

Result Drivers

* MAPLE BOND OFFERING - CAD $200 mln Maple Bond offering contributed to financial results

* ACQUISITIONS - Nearly $90 mln of high quality acquisitions boosted revenue

* SECTOR STABILIZATION - Sector stabilization helped achieve revenue growth and occupancy rates

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.09

Q3 Net $5.20

Income mln

Q3 $27.50

Adjusted mln

FFO

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for SmartStop Self Storage REIT Inc is $40.00, about 81.4% above its April 14 closing price of $7.43

* The stock recently traded at 93 times the next 12-month earnings vs. a P/E of 84 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)