Wayne Johnson, the President and Chief Investment Officer of SmartStop Self Storage REIT, Inc. (NASDAQ:SMA), recently acquired a significant amount of the company’s common stock. According to a recent SEC filing, Johnson purchased 3,000 shares at $30 each, totaling $90,000 - notably below the current trading price of $33.1. This acquisition was part of a directed share program in connection with the company’s public offering. The stock has shown resilience, trading near its 52-week high of $33.92, with a 1.07% return year-to-date. For deeper insights into insider transactions and more exclusive metrics, check out InvestingPro.
In addition to this transaction, Johnson also received long-term incentive plan units on two occasions. On April 1, he was granted 19,895 units, and on April 2, he received an additional 9,424 units. These incentive plan units are part of SmartStop’s operating partnership and can be converted into Class A common units, which are redeemable for shares of the company’s Class A common stock or their cash value.
As of the latest filings, Johnson’s total holdings include 5,863.03 shares of Class A Common Stock, adjusted for a recent one-for-four reverse stock split. The reverse split automatically changed every four shares into one share, rounding to the nearest 1/1000th share.
These transactions highlight Johnson’s ongoing commitment to SmartStop Self Storage REIT, Inc., as he continues to increase his stake in the company.
In other recent news, SmartStop Self Storage REIT, Inc. began trading its shares on the New York Stock Exchange at $32.40 per share, following its initial public offering (IPO) priced at $30.00. This marks a $2.40 increase from the IPO price. The company announced the pricing of its public offering of 27,000,000 common shares. Furthermore, SmartStop has provided a 30-day option to underwriters to purchase 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 Securities, KeyBanc Capital Markets, BMO Capital Markets, and Truist Securities. These developments reflect significant recent activity for SmartStop in the financial markets.
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