SmartStop Self Storage REIT (SMA) Could Be 1% Below Fair Value As Shares Climb

SmartStop Self Storage REIT Stock Price Snapshot

SmartStop Self Storage REIT (SMA) has drawn fresh attention after its recent trading performance, with the share price closing at $35.64 on 16 October 2026 and short-term returns turning positive.

Investors now have a live reference point for discussing valuation, since the stock is up 0.6% over the past day, 4.3% over the past week, and about 12.3% over the past month.

Short-term momentum for SmartStop Self Storage REIT looks strong, with a 1-month share price return of 12.32% and a year-to-date share price return of 15.86%. However, the 1-year total shareholder return is slightly down 1.10%, which points to improving sentiment after a softer prior year.

Scan momentum across the storage and real estate space by comparing SmartStop Self Storage REIT with our hand picked list of solid balance sheet and fundamentals (24 results)

The recent jump in SmartStop Self Storage REIT has almost closed the gap to analyst targets, while internal fair value estimates still indicate a much larger discount. Which reference point is the current US$35.64 closer to?

Most Popular Narrative: 1.3% Undervalued

On the most followed view, SmartStop Self Storage REIT carries a fair value of $36.10, just above the recent $35.64 close, while the same framework points to a much deeper discount when focusing on future cash flows.

The analysts have a consensus price target of $36.1 for SmartStop Self Storage REIT based on their expectations of its future earnings growth, profit margins and other risk factors.

See why 1 investors see SmartStop Self Storage REIT as 1% undervalued.

Result: Fair Value of $36.10 (UNDERVALUED)

Still, the SmartStop Self Storage REIT narrative depends on self storage supply not tightening more slowly than expected and on third party management fee streams holding up if deal flow softens.

Find out about the key risks to this SmartStop Self Storage REIT narrative.

Another View: SmartStop Self Storage REIT Looks Pricey On Earnings

The story changes once you shift from fair value models to simple earnings multiples. SmartStop Self Storage REIT trades on a P/E of 70.2x, while the fair ratio sits at 35.7x. That is almost double what the regression suggests the market could move toward.

The gap is wide when compared with others too. The North American Specialized REITs industry averages 26.3x and close peers sit near 29.2x, so SMA carries a much richer tag than both its sector and its own fair ratio. If sentiment cools, which reference point do you want to be closest to?

See what the numbers say about this price, find out in our valuation breakdown See what the numbers say about this price — find out in our valuation breakdown.

Next Steps

Mixed signals on SmartStop Self Storage REIT so far. If you want to move quickly and reach your own verdict, weigh up the 3 key rewards and 2 important warning signs.

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