Microvast Holdings announces departure of chief financial officer
SmartStop Self Storage REIT, Inc. (NYSE:SMA), a self-storage company with a market capitalization of $1.42 billion and trading near its 52-week high of $37.79, reported several board changes in a press release statement filed with the Securities and Exchange Commission. According to InvestingPro analysis, the company has shown strong momentum with a 14.87% return over the past six months, though currently appears overvalued based on Fair Value calculations.
On June 30, Paula Mathews notified the company of her retirement from the board of directors, submitting her resignation effective immediately. According to the filing, her departure was not due to any disagreement with the company regarding its operations, policies, or practices. This leadership transition comes as SmartStop faces some financial challenges, with InvestingPro data showing the company is not yet profitable over the last twelve months, though analysts expect profitability this year.
In recognition of her service, the board’s Compensation Committee approved the acceleration of vesting for 12,412 long-term incentive plan units previously granted to Ms. Mathews. The accelerated vesting, effective June 30, had an approximate fair market value of $450,000, based on the closing price of the company’s common stock on that day.
On July 1, the Nominating and Corporate Governance Committee recommended, and the board approved, the appointment of Lora Gotcheva as an independent director, effective July 10. Ms. Gotcheva will also serve on the Audit Committee and the Compensation Committee. The company stated that her appointment is not related to Ms. Mathews’ retirement.
Ms. Gotcheva has more than 25 years of experience in financial management and investments, including various roles at CPP Investments from July 2010 to April 2025. Most recently, she served as a managing director specializing in private real estate investments, joint ventures, and public REIT investments. She also served on the Infrastructure Investment Committee at CPP Investments. Ms. Gotcheva holds a Bachelor of Arts from Mount Holyoke College and an MBA from The Wharton School at the University of Pennsylvania.
There are no arrangements or understandings with any person pursuant to which Ms. Gotcheva was selected as a director, and she has no family relationships with any current directors or executive officers, according to the filing.
Ms. Gotcheva will participate in the company’s current director compensation program, including a prorated cash retainer for board and committee service, and an initial equity award valued at $100,000, which will vest in full on the first anniversary of the grant date, subject to continued service.
This information is based on a press release statement filed with the SEC.
In other recent news, SmartStop Self Storage REIT has announced a monthly dividend for July 2025, set at $0.1359 per share, with an annualized target of $1.60 per share. This dividend will be distributed to stockholders of record as of July 31, 2025. At the company’s 2025 Annual Meeting of Stockholders, five directors were elected, and BDO USA, P.C. was ratified as the independent auditor for the fiscal year ending December 31, 2025. Stifel has reiterated its Buy rating on SmartStop Self Storage, citing strong growth prospects and a compound annual growth rate significantly outpacing its peers. Additionally, Raymond (NSE:RYMD) James upgraded the stock to Strong Buy, highlighting SmartStop’s high-quality portfolio and expected margin expansion. KeyBanc raised its price target to $40.00 following a favorable CAD $500 million debt deal that exceeded expectations. This issuance is expected to reduce SmartStop’s cost of capital and support its ongoing investment activities. Raymond James also noted that SmartStop’s Toronto portfolio experienced a 7% year-over-year revenue growth in the first quarter of 2025.
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