SmartStop Self Storage COO Joseph Robinson buys $15,000 in stock

Published 04/04/2025, 00:50
SmartStop Self Storage COO Joseph Robinson buys $15,000 in stock

In a recent transaction, Joseph H. Robinson, the Chief Operations Officer of SmartStop Self Storage REIT, Inc. (NASDAQ:SMA), acquired 500 shares of the company’s common stock. The shares were purchased at $30 each, amounting to a total investment of $15,000. The stock currently trades at $33.1, near its 52-week high of $33.92, suggesting positive momentum since the purchase. This acquisition was made as part of a directed share program associated with the company’s public offering. InvestingPro subscribers can access detailed insider trading patterns and comprehensive financial metrics for deeper analysis.

In addition to the non-derivative stock purchase, Robinson also received long-term incentive plan units (LTIP Units) in two separate transactions. On April 1, 2025, he acquired 19,895 LTIP Units, and on April 2, 2025, he received an additional 9,424 LTIP Units. These LTIP Units are part of the company’s incentive plan and are convertible into Class A common units of SmartStop’s operating partnership. The units vest over a four-year period, contingent upon Robinson’s continued employment.

The transactions reflect Robinson’s ongoing participation in the company’s equity compensation program and his personal investment in SmartStop Self Storage’s growth and performance.

In other recent news, SmartStop Self Storage REIT, Inc. began trading on the New York Stock Exchange with its shares opening at $32.40, surpassing its initial public offering price of $30.00 per share. The company announced the pricing of its public offering, which involved 27 million common shares. Additionally, SmartStop has provided underwriters with a 30-day option to purchase up to an additional 4.05 million shares at the public offering price, excluding underwriting discounts and commissions. This offering is being 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 mark a significant step for the company as it enters the public trading arena.

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