Land & Buildings Sends Letter to SmartRent’s (SMRT) Outlining the Need to Explore Strategic Alternatives

Key Summary: On May 14, 2024, Land & Buildings suggested that SmartRent explore strategic alternatives, including a potential sale, to maximize shareholder value.

Market Cap: $545 million | SmartRent, Inc., an enterprise real estate technology company, provides management software and applications to rental property owners and operators, property managers, homebuilders, developers, and residents in the United States and internationally.

On May 14, 2024, Land & Buildings (3%) expressed deep concern over the company's performance and its impact on shareholder value. Land & Buildings suggested that SmartRent explore strategic alternatives, including a potential sale, to maximize shareholder value. Citing a premium of over 150% based on comparable transactions, Land & Buildings emphasized the urgent need for action given SmartRent's persistent underperformance, management turnover, and governance issues. Source