Smartstop Self Storage REIT Inc

SmartStop Self Storage REIT, Inc. Reports Third Quarter 2026 Results

SmartStop reported Q3 2026 net income of $9.0 million ($0.16/share) on $68.2 million of self-storage revenues, with FFO as adjusted of $30.3 million, or $0.51 per diluted share/OP unit, up about $0.04 year over year. Same-store NOI grew 4.9% on 2.0% revenue growth and a 3.8% expense decline, expanding operating margin by 190 basis points despite same-store occupancy slipping 0.4% to 92.2%; management raised full-year same-store NOI guidance to 2.00%-2.50%, its fourth raise this year. The company also announced a $74.3 million CAD investment in Strategic Storage Canada that would make it Canada's third-largest self-storage operator, launched a program targeting $75-125 million of non-core dispositions, issued $200 million CAD of 4.32% notes due 2031, and sold roughly 2.4 million shares forward at $32.01 under its ATM program.

•4d ago

Strategic Storage Trust VI Completes Merger with Strategic Storage Growth Trust III, Creating a Billion Dollar Self-Storage REIT

SmartStop-sponsored Strategic Storage Trust VI completed its all-stock merger with Strategic Storage Growth Trust III, valuing the target's portfolio at approximately $500 million and creating a self-storage REIT with over $1 billion in total assets. SST VI's portfolio grew to 37 wholly-owned facilities, roughly 29,400 units and 3.2 million square feet, adding 12 facilities and roughly 45% more units, with new entries into California, New Jersey, Texas and three Canadian provinces via joint ventures and DST interests. SSGT III holders received one SST VI Class A share per share and expect a distribution rate more than 20% higher; legacy SST VI stockholders own about 59% of the combined company. For SmartStop (NYSE: SMA), the deal deepens its sponsored-REIT platform, now backing its third $1B+ asset REIT.

•6d ago

SmartStop Expands North American Platform Through ~$140 Million of Strategic Investments Amongst Other Initiatives, Driving Accretive Growth on a Leverage-Neutral Basis; Raises 2026 Same-Store and FFO, as Adjusted Guidance

SmartStop announced approximately $140 million of strategic investments, anchored by a CAD $74 million (~USD $54 million) investment in Strategic Storage Canada, a 14-property joint venture fund that makes the company Canada's third-largest self-storage operator with 70 properties. The company also agreed to acquire two wholly owned U.S. properties for about $37 million, launched a programmatic preferred/mezzanine investment partnership (mid-teens yields) alongside JV partner AXCS Capital, and initiated a strategic asset management program targeting $75-$125 million of noncore dispositions starting early 2027. Growth is funded leverage-neutrally via ~2.4 million forward ATM shares at an average $32.01 (up to ~$78 million) plus a previously closed CAD $200 million Maple Bond at 4.317%. The transactions are expected to be modestly accretive to 2026 FFO, as adjusted, and add $0.05-$0.06 per share to 2027 FFO, as adjusted. SmartStop raised full-year 2026 guidance: FFO, as adjusted, per share to $1.99-$2.05 (+$0.01), same-store revenue growth to 0.75%-1.75%, and same-store NOI growth to 1.15%-2.15%.

•1mo ago

SmartStop Self Storage REIT, Inc. Reports Second Quarter 2026 Results

SmartStop reported Q2 2026 results with FFOa per share rising 17.6% year-over-year to $0.49, driven by a 150 basis point expansion in same-store operating margins to 67.3%. Citing the strength in core operations, the company raised its full-year 2026 guidance for same-store NOI and FFOa per share to a range of $1.98 to $2.04, up from the prior range of $1.94 to $2.04. The company deployed over $46 million in the quarter, including the $29.7 million acquisition of three facilities in Spartanburg, South Carolina, and approximately $19.4 million in preferred investments.

•3mo ago

SmartStop Self Storage REIT, Inc. Adds Inaugural Canadian Managed Facility to its Third-Party Management Platform

SmartStop added its first third-party managed facility in Canada, an 80,910-square-foot property with 829 units located in Aurora, Ontario. The contract expands the company's management platform in the Greater Toronto Area, where it already owns or manages a substantial portfolio. SmartStop now oversees 460 properties across North America, including 52 in Canada, utilizing a team of over 1,000 self-storage professionals.

•3mo ago

Strategic Storage Trust VI, Inc. and Strategic Storage Growth Trust III, Inc. to Combine in All-Stock Merger

Strategic Storage Trust VI and Strategic Storage Growth Trust III, both sponsored by SmartStop (SMA), agreed to merge in an all-stock transaction creating a combined entity with approximately $1.2 billion in total assets. The merger will consolidate 37 wholly owned self-storage facilities and various joint ventures, with existing SST VI stockholders set to own 59% of the new company and SSGT III stockholders 38%. Management expects the deal to deliver economies of scale, improved borrowing terms, and increased distribution rates, with the transaction anticipated to close in Q4 2026 pending SSGT III shareholder approval.

•3mo ago

Strategic Storage Growth Trust III, Inc. Opens First Greater Montréal Self-Storage Facility, with Class A Laval Property

Strategic Storage Growth Trust III, sponsored by an affiliate of SmartStop Self Storage REIT, has opened its first self-storage facility in the Greater Montréal Area. The new Class A property in Laval features approximately 124,925 net rentable square feet and 1,312 units, developed in partnership with SmartCentres. SmartStop currently owns or manages a portfolio of more than 460 properties across the U.S. and Canada comprising over 275,000 units.

•4mo ago

SmartStop Self Storage REIT, Inc. Reports First Quarter 2026 Results

SmartStop Self Storage REIT reported Q1 2026 Adjusted FFO of $28.8 million, or $0.49 per share, up 19.3% year-over-year, driven by sector-leading same-store NOI growth of 2.0%. The company successfully refinanced with a new $500 million senior credit facility at rates approximately 30 basis points lower than the previous facility, improving financial flexibility. Same-store revenue increased 1.5% on tough comps, while the board maintained a steady annualized distribution of $1.60 per share.

•6mo ago