SmartStop Self Storage REIT, Inc. entered forward sale agreements covering 9,372,500 common shares at an initial $35.6125 per share. Settlement may occur on or prior to September 30, 2028, with proceeds intended for pending investments and debt repayment.
SMA · SmartStop Self Storage REIT, Inc.
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SmartStop Self Storage REIT, Inc. reported self storage revenue of approximately $68.2 million for the three months ended September 30, 2026, up approximately 6% from approximately $64.6 million, primarily due to acquisitions and same-store growth.
SmartStop self-storage reported adjusted FFO per share of $0.51, up approximately 9.4% year-over-year, raised 2026 same-store revenue guidance to 1.25% to 1.75%, and expects $200 to $220 million of capital deployment.
SmartStop Self Storage REIT, Inc. reported third-quarter net income of approximately $9.0 million, adjusted FFO of approximately $30.3 million and same-store NOI growth of 4.9% for the three months ended September 30, 2026.
SmartStop Self Storage REIT, Inc. declared a November 2026 dividend of $0.13150685 per share, reflecting a targeted annualized dividend of $1.60 per share, payable December 15, 2026 to holders of record November 30, 2026.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. SmartStop (SMA) reported Q2 2026 same-store NOI growth of 3.7% and a 150 bps margin expansion, driven by operating leverage and insurance savings, while raising 2026 same-store NOI guidance and FFOa per share guidance. The company deployed over $46 million into acquisitions and bridge investments and reduced cash flow leverage, though same-store occupancy declined 0.6% and GTA Canada is facing tougher comps amid new competitive entry by Public Storage.
- + Same-store operating margins expanded 150 bps year-over-year to 67.3%
- + Raised 2026 capital deployment guidance to $55–$75 million range
- + FFOa per share grew 17.6% year-over-year to $0.49; reduced cash flow leverage while deploying capital
- − Same-store occupancy declined 60 bps to 92.5% year-over-year
- − Asheville occupancy comp averaging down ~230 bps YoY due to natural disaster and eminent domain; expected underperformer through Q3
- − Public Storage's pending PS Canada acquisition creates a new competitor primarily overlapping SmartStop's GTA portfolio
- − Canadian GTA same-store revenue declined 1% on constant currency basis with tougher 2025 comps; full-year expected to run modestly below U.S. portfolio
- − Eminent domain takings of ~80% of Asheville III and ~20% of Asheville IV removed two properties from same-store pool
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Net operating income (same-store) non-GAAP | $37.13M | Three Months Ended June 30, 2026 filing | — |
| Net operating income (total) non-GAAP | $42.26M | Three Months Ended June 30, 2026 filing | — |
| Number of same-store facilities | 155 | Three Months Ended June 30, 2026 filing | — |
| Annualized rent per occupied square foot (non same-store) | $21.15 | Six Months Ended June 30, 2026 | — |
| Annualized rent per occupied square foot (same-store, six months) | $20.22 | Six Months Ended June 30, 2026 | — |
| Annualized rent per occupied square foot (total) | $20.34 | Six Months Ended June 30, 2026 | — |
| Annualized rent per occupied square foot (total, six months) | $20.34 | Six Months Ended June 30, 2026 | — |
| Assets under management for the Managed REITs | 1B | At quarter end (Q2 2026) | — |
| Average physical occupancy (non same-store) | 85.1% | Six Months Ended June 30, 2026 | — |
| Average physical occupancy (same-store, six months) | 92.5% | Six Months Ended June 30, 2026 | — |
| Average physical occupancy (total) | 91.6% | Six Months Ended June 30, 2026 | — |
| Average physical occupancy (total, six months) | 91.6% | Six Months Ended June 30, 2026 | — |
| FFO (attributable to common stockholders and OP unit holders) non-GAAP | 31.6M | Three Months Ended June 30, 2026 | — |
| FFO (attributable to common stockholders and OP unit holders) (six months) non-GAAP | 60.85M | Six Months Ended June 30, 2026 | — |
| FFO, as adjusted (attributable to common stockholders and OP unit holders) non-GAAP | 58.1M | Six Months Ended June 30, 2026 | — |
| FFO, as adjusted (attributable to common stockholders and OP unit holders) (six months) non-GAAP | 58.09M | Six Months Ended June 30, 2026 | — |
| FFO, as adjusted per share & OP unit outstanding – diluted non-GAAP | $0.49 | Three Months Ended June 30, 2026 | — |
| FFO, as adjusted per share & OP unit outstanding – diluted (six months) non-GAAP | $0.98 | Six Months Ended June 30, 2026 | — |
| FFO, as adjusted per share and OP unit outstanding – diluted non-GAAP | $0.98 | Six Months Ended June 30, 2026 | — |
| Managed REITs operating properties | 52 | At quarter end (Q2 2026) | — |
| Managed REITs rentable square feet | 4.6M | At quarter end (Q2 2026) | — |
| Managed REITs units | 43,000 | At quarter end (Q2 2026) | — |
| Net operating income (non same-store) non-GAAP | $9.67M | Six Months Ended June 30, 2026 | — |
| Number of facilities | 180 | Three Months Ended June 30, 2026 | — |
| Number of facilities (same-store) | 155 | Three Months Ended June 30, 2026 | — |
| Number of facilities (six months) | 180 | Six Months Ended June 30, 2026 | — |
| Number of facilities (total) | 180 | Six Months Ended June 30, 2026 | — |
| Number of non same-store facilities | 25 | Six Months Ended June 30, 2026 | — |
| Number of non same-store facilities (six months) | 25 | Six Months Ended June 30, 2026 | — |
| Number of same-store facilities (six months) | 155 | Six Months Ended June 30, 2026 | — |
| Rentable square feet (non same-store) | 1,987,850 | Six Months Ended June 30, 2026 | — |
| Rentable square feet (same-store) | 12,116,650 | Six Months Ended June 30, 2026 | — |
| Rentable square feet (same-store, six months) | 12,116,650 | Six Months Ended June 30, 2026 | — |
| Rentable square feet (total) | 14,104,500 | Six Months Ended June 30, 2026 | — |
| Rentable square feet (total, six months) | 14,104,500 | Six Months Ended June 30, 2026 | — |
| Same-store annualized rent per occupied square foot | $20.22 | Six Months Ended June 30, 2026 | — |
| Same-store average physical occupancy | 92.5% | Six Months Ended June 30, 2026 | — |
| Same-store net operating income (NOI) | 2.9% | Six Months Ended June 30, 2026 | — |
| Same-store operating margins | 67.3% | Three Months Ended June 30, 2026 | — |
| Same-store property operating expenses | 1.4% | Six Months Ended June 30, 2026 | — |
| Same-store revenues | 1.4% | Six Months Ended June 30, 2026 | — |
| Third-party platform managed stores | 220 | As of the quarter ended June 30, 2026 | — |
| Third-party platform net rentable square feet | 15.7M | As of the quarter ended June 30, 2026 | — |
| Total net operating income non-GAAP | $82.55M | Six Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Industrial — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SMA
this stock
SmartStop Self Storage REIT, Inc.
|
$2.21B | +28.8% | +5.7% | 67.7 | 9.4% |
|
PLD
Prologis, Inc.
|
$119.96B | +0.8% | +7.2% | 28.4 | 1.8% |
|
PSA
Public Storage
|
$62.14B | +28.2% | +2.7% | 34.9 | 3.8% |
|
EXR
Extra Space Storage Inc.
|
$33.08B | +21.7% | +3.7% | 32.3 | 2.3% |
|
EGP
Eastgroup Properties Inc
|
$10.63B | +10.9% | +12.7% | 33.5 | 8.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 12, 2026
- This year
- 36
SmartStop Self Storage REIT, Inc. entered forward sale agreements covering 9,372,500 common shares at an initial $35.6125 per share. Settlement may occur on or prior to September 30, 2028, with proceeds intended for pending investments and debt repayment.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SMA | +2.4% | +16.7% | +28.5% | +9.1% | +28.8% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -0.2% | +17.9% | +28.0% | +9.3% | +18.2% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.