SmartStop Self Storage Drops Price Target to $33 Following Cautious 2026 Outlook
SmartStop Self Storage REIT’s price target was cut to $33 from $41 after a downgrade to Equal Weight, as 2026 guidance is expected below consensus and same-store revenue growth slows. Scotiabank cut its target to $35 and Truist lowered theirs to $38, keeping bullish ratings on demand as supply moderates.
1. Wells Fargo Downgrades to Equal Weight
On February 5, SmartStop Self Storage REIT was downgraded to an Equal Weight rating from Overweight, and its price target was lowered to $33 from $41. The downgrade reflects expectations for 2026 guidance to come in below consensus and a slowdown in same-store revenue growth.
2. Scotiabank and Truist Adjust Price Targets
Scotiabank reduced its price target to $35 from $36 while maintaining an Outperform rating, citing the company’s ability to offset customer churn through existing rate increases. Truist trimmed its target to $38 from $39, keeping a Buy rating based on moderating new supply and steady demand for high-quality storage assets.
3. Outlook for 2026 Performance
Analysts anticipate that 2026 guidance will fall modestly below street expectations due to slower growth at existing locations. Moderating supply in the sector and ongoing demand stability are seen as mitigating factors, but overall caution remains on future growth momentum.