SmartStop Self Storage REIT, Inc. (SMA) Form 8-K — Nov 4, 2026
SmartStop Self Storage REIT (NYSE: SMA) reported strong Q3 2026 results on November 4, 2026, with net income to common of ~$9.0M (EPS $0.16 vs $0.09 a year ago) and FFO as adjusted per share of $0.51, up ~9% YoY. Same-store revenue grew 2.0% and same-store NOI grew 4.9% on a 3.8% decline in operating expenses, the third consecutive quarter of margin expansion. Management raised full-year same-store NOI guidance to 2.00%-2.50% — the fourth raise this year — and now sees FY2026 FFO as adjusted per share of $2.01-$2.05.
Key figures
- Eps
- 0.16
- Revenue
- 81779000
- Guidance
- FY2026 same-store NOI growth raised to 2.00%-2.50% (as translated); FFO as adjusted per share $2.01-$2.05
- Net Income
- 8989000
- Total Debt
- 1137847000
- Revenue Yoy
- +$11.3M vs Q3 2025 ($70.4M)
- Total Assets
- 2456037000
- Cash Position
- 30989000
- Shares Outstanding
- 55367820
- Maple bond
- $200M CAD Series C senior unsecured notes at ~4.32%, due Feb 18, 2031
- Distribution
- $1.60 annualized per share
- Disposition target
- $75M-$125M starting early 2027
- Q3 ffo as adjusted
- $30.3M
- Forward atm proceeds
- ~$78.1M (2.4M shares at $32.01 avg)
- Same store occupancy q3
- 92.2% (-0.4%)
- Same store noi growth q3
- 4.9%
- Nine month total revenues
- $239.4M
- Additional fund commitment
- up to $228.0M CAD over three years
- Under contract acquisitions
- ~$37M (Las Vegas NV and Asheville NC)
- Q3 ffo as adjusted per share
- $0.51 (+$0.04 YoY)
- Same store revenue growth q3
- 2.0%
- Nine month net income to common
- $29.8M
- Strategic storage canada investment
- $74.3M CAD (~$52.3M USD)
AI analysis
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