Colliers Securities Predicts SmartRent Q4 Earnings

SmartRent, Inc. (NYSE:SMRT) – Research analysts at Colliers Securities issued their Q4 2024 EPS estimates for SmartRent in a report released on Monday, November 11th. Colliers Securities analyst B. Oxford expects that the company will post earnings of ($0.04) per share for the quarter. Colliers Securities has a “Neutral” rating on the stock. The consensus estimate for SmartRent’s current full-year earnings is ($0.12) per share.

A number of other analysts have also recently commented on the stock. Keefe, Bruyette & Woods cut shares of SmartRent from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $3.50 to $2.00 in a research note on Thursday, August 8th. BTIG Research downgraded SmartRent from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Cantor Fitzgerald cut SmartRent from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $4.00 to $2.00 in a research report on Thursday, August 8th. Finally, DA Davidson cut SmartRent from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $3.25 to $2.00 in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.50.

SmartRent Stock Down 4.7 %

NYSE SMRT opened at $1.41 on Wednesday. The company has a market cap of $271.52 million, a PE ratio of -10.81 and a beta of 1.96. The firm’s 50-day simple moving average is $1.69 and its two-hundred day simple moving average is $2.02. SmartRent has a 52 week low of $1.17 and a 52 week high of $3.47.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The firm had revenue of $40.50 million during the quarter, compared to the consensus estimate of $45.94 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was down 30.3% compared to the same quarter last year.

Insider Buying and Selling at SmartRent

In related news, Director Frank Martell bought 75,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $1.63 per share, for a total transaction of $122,250.00. Following the completion of the transaction, the director now directly owns 150,000 shares in the company, valued at $244,500. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Robyn Young purchased 14,793 shares of the business’s stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $1.70 per share, with a total value of $25,148.10. Following the purchase, the chief marketing officer now owns 52,305 shares in the company, valued at approximately $88,918.50. This represents a 39.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 9.00% of the company’s stock.

Institutional Trading of SmartRent

Hedge funds have recently made changes to their positions in the stock. Long Pond Capital LP lifted its position in SmartRent by 133.1% in the 2nd quarter. Long Pond Capital LP now owns 9,316,093 shares of the company’s stock worth $22,265,000 after buying an additional 5,320,147 shares during the last quarter. Land & Buildings Investment Management LLC raised its stake in shares of SmartRent by 82.0% during the second quarter. Land & Buildings Investment Management LLC now owns 5,658,366 shares of the company’s stock worth $13,523,000 after acquiring an additional 2,549,856 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of SmartRent by 27.2% in the 3rd quarter. Citigroup Inc. now owns 10,009,518 shares of the company’s stock worth $17,316,000 after acquiring an additional 2,138,797 shares during the last quarter. Blue Door Asset Management LLC boosted its stake in shares of SmartRent by 41.6% in the 1st quarter. Blue Door Asset Management LLC now owns 4,424,864 shares of the company’s stock valued at $11,859,000 after purchasing an additional 1,299,283 shares in the last quarter. Finally, Caprock Group LLC bought a new position in shares of SmartRent during the 3rd quarter valued at $1,997,000. 59.42% of the stock is owned by institutional investors.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.