** Wall Street starts coverage of SmartStop Self Storage REIT SMA.N on a bullish note as IPO research quiet period ends
** Ladera Ranch, California-based SMA went public earlier this month after $932 million IPO - one of the biggest New York flotations this year
** KeyBanc Capital Markets and J.P. Morgan start coverage with "overweight" rating
** JPM says its constructive outlook is due to discounted valuation and near-term relative growth prospects
** KeyBanc says IPO had a significant balance sheet impact, creating capacity for future growth
** Scotiabank starts coverage at "sector outperform" while Raymond James initiates with an "outperform" rating
** Raymond James says self storage REITs are currently under-owned among REIT-dedicated investors
** J.P. Morgan, Wells Fargo, KeyBanc Capital Markets, BMO and Truist Securities led a 13-firm underwriting syndicate for the IPO
** As of last close, SMA stock up 11.5% since NYSE debut on April 2
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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