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.
Key figures
- Eps
- 0.16
- Revenue
- 81779000
- Guidance
- FY26 same-store NOI growth raised to 2.00%-2.50% (from 1.15%-2.15%); FFO as adjusted per share $2.01-$2.05
- Revenue Yoy
- 16.1%
- Managed reit aum
- $1.0 billion
- Ffo as adjusted q3
- 30314000
- Nine month net income
- 29811000
- Same store occupancy q3
- 92.2%
- Self storage revenue q3
- 68200000
- Same store noi growth q3
- 4.9%
- Nine month ffo as adjusted
- 88402000
- Ffo as adjusted per share q3
- 0.51
- Same store expense change q3
- -3.8%
- Same store revenue growth q3
- 2.0%
- Distribution annualized per share
- 1.6
- Same store rent per occupied sqft q3
- 20.99
AI analysis
Red flags4 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.