Brighton Jones LLC Makes New Investment in SmartRent, Inc. (NYSE:SMRT)

Brighton Jones LLC bought a new position in SmartRent, Inc. (NYSE:SMRT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 67,230 shares of the company’s stock, valued at approximately $214,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of SmartRent by 4.8% during the third quarter. Vanguard Group Inc. now owns 19,143,749 shares of the company’s stock valued at $49,965,000 after purchasing an additional 879,518 shares during the period. Land & Buildings Investment Management LLC increased its holdings in shares of SmartRent by 9.6% during the third quarter. Land & Buildings Investment Management LLC now owns 3,500,719 shares of the company’s stock valued at $9,137,000 after purchasing an additional 305,510 shares during the period. Brandywine Global Investment Management LLC increased its holdings in shares of SmartRent by 2.0% during the third quarter. Brandywine Global Investment Management LLC now owns 929,500 shares of the company’s stock valued at $2,426,000 after purchasing an additional 17,800 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of SmartRent by 8.0% during the third quarter. Bank of New York Mellon Corp now owns 616,660 shares of the company’s stock valued at $1,609,000 after purchasing an additional 45,481 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of SmartRent by 60.9% during the third quarter. First Eagle Investment Management LLC now owns 600,231 shares of the company’s stock valued at $1,567,000 after purchasing an additional 227,233 shares during the period. 59.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SMRT shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of SmartRent in a research note on Friday, January 12th. BTIG Research started coverage on SmartRent in a research note on Friday, January 19th. They set a “buy” rating and a $4.50 target price for the company. Finally, Keefe, Bruyette & Woods decreased their target price on SmartRent from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, March 6th.

SmartRent Trading Up 0.6 %

NYSE:SMRT opened at $2.46 on Friday. SmartRent, Inc. has a 1-year low of $2.24 and a 1-year high of $4.12. The stock has a fifty day simple moving average of $2.61 and a 200 day simple moving average of $2.85.

SmartRent (NYSE:SMRT) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). SmartRent had a negative net margin of 14.60% and a negative return on equity of 9.97%. The company had revenue of $60.25 million during the quarter, compared to analyst estimates of $57.88 million. During the same quarter last year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 48.6% compared to the same quarter last year. Sell-side analysts anticipate that SmartRent, Inc. will post -0.03 EPS for the current year.

SmartRent Company Profile

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.