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H. Michael Schwartz, CEO of SmartStop Self Storage REIT, Inc. (NASDAQ:SMA), recently acquired 18,000 shares of the company’s common stock, valued at $540,000. The purchase was made at $30 per share, notably below the current trading price of $32.89. This acquisition was executed through Churchill TRI LLC, a Nevada limited liability company, which is indirectly owned by trusts associated with Schwartz and his family.
Post-transaction, Schwartz’s direct and indirect ownership includes a significant number of shares and units across various classes. Notably, his holdings include 120,805.97 shares of Class A Common Stock and 29,315.15 shares through the Schwartz Family Trust. Additionally, Schwartz controls substantial units in SmartStop’s operating partnership, including Class A Common Units and Long-Term Incentive Plan Units. The stock has shown stability, trading within a narrow 52-week range of $32-$34.25. For deeper insights into insider transactions and valuation metrics, InvestingPro offers comprehensive analysis and exclusive ProTips.
These transactions reflect Schwartz’s ongoing commitment to the company’s growth and stability, bolstering his substantial stake in SmartStop Self Storage, with the stock maintaining a steady year-to-date return of 0.43%.
In other recent news, SmartStop Self Storage REIT, Inc. commenced trading on the New York Stock Exchange with an initial public offering (IPO) price set at $30.00 per share. The shares debuted at $32.40, marking a $2.40 increase from the IPO price. The company announced the pricing of its public offering of 27,000,000 common shares. Additionally, SmartStop has granted a 30-day option to underwriters, allowing the purchase of up to an additional 4,050,000 shares at the public offering price, excluding underwriting discounts and commissions. The offering is managed by a consortium of joint book-running managers, including J.P. Morgan, Wells Fargo (NYSE:WFC) Securities, KeyBanc Capital Markets, BMO Capital Markets, and Truist Securities. These recent developments highlight the company’s strategic steps in broadening its investor base and capitalizing on market opportunities.
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