NYSE : SMA
SmartStop Self Storage REIT, Inc. — Financial statements
Real Estate · REIT - Industrial · United States
Last price 36.53 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.02B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 248.55M | 238.50M | 209.58M | 206.49M | 191.75M | 150.61M |
| Property Management Fees | 24.38M | 19.17M | 11.38M | 11.91M | 7.82M | 6.32M |
| Other Revenue | 10.50M | 10.16M | 6.60M | 5.93M | 6.76M | 6.43M |
| Total Revenue | 283.43M | 267.83M | 227.56M | 224.33M | 206.32M | 163.37M |
| Property Expenses | 96.23M | 92.03M | 69.42M | 63.78M | 57.41M | 46.81M |
| Selling, General & Administrative | 44.31M | 44.42M | 35.61M | 32.60M | 32.65M | 26.97M |
| Depreciation & Amortization | 65.84M | 63.23M | 55.17M | 53.64M | 49.42M | 40.95M |
| Other Operating Expenses | -1.00K | |||||
| Total Operating Expenses | 219.52M | 209.65M | 161.14M | 156.60M | 154.68M | 127.15M |
| Operating Income | 63.91M | 58.18M | 66.43M | 67.73M | 51.64M | 36.22M |
| Interest Expense | -52.32M | -59.90M | -72.33M | -61.80M | -41.51M | -33.38M |
| Interest & Investment Income | 7.00M | 4.37M | 3.25M | 3.36M | 1.84M | |
| Currency Exchange Gain (Loss) | 6.40M | -5.90M | -23.90M | -51.10M | ||
| Other Non-Operating Income | 7.02M | 5.88M | 22.62M | 50.87M | -998.00K | -937.63K |
| EBT Excluding Unusual Items | 32.01M | 2.63M | -3.93M | 9.05M | 10.97M | 1.90M |
| Gain (Loss) on Sale of Investments | 14.05M | -8.39M | ||||
| Gain (Loss) on Sale of Assets | 2.01M | 284.00K | 178.63K | |||
| Other Unusual Items | -1.53M | -2.75M | -471.00K | -3.91M | -15.06M | |
| Pretax Income | 32.49M | 164.00K | -4.40M | 9.05M | 21.11M | -21.38M |
| Income Tax Expense | 1.69M | 1.90M | 1.48M | -2.60M | -555.00K | -1.81M |
| Earnings From Continuing Operations | 30.81M | -1.74M | -5.89M | 11.65M | 21.67M | -19.56M |
| Minority Interest in Earnings | -1.98M | 190.00K | 266.00K | -1.89M | -2.85M | 2.66M |
| Net Income | 28.83M | -1.55M | -5.62M | 9.75M | 18.82M | -16.90M |
| Preferred Dividends & Other Adjustments | 726.00K | 7.84M | 13.21M | 12.87M | 12.79M | 12.75M |
| Net Income to Common | 28.11M | -9.39M | -18.83M | -3.12M | 6.04M | -29.65M |
| Basic Shares Outstanding | 55.27M | 47.30M | 24.14M | 24.20M | 22.98M | 19.86M |
| Diluted Shares Outstanding | 55.37M | 47.30M | 24.14M | 24.20M | 23.01M | 19.86M |
| EPS (Basic) | 0.51 | -0.20 | -0.78 | -0.13 | 0.26 | -1.49 |
| EPS (Diluted) | 0.50 | -0.20 | -0.78 | -0.13 | 0.26 | -1.49 |
| Dividend Per Share | 0.79 | 2.20 | 2.39 | 2.39 | 2.40 | |
| Operating Margin | 22.55% | 21.72% | 29.19% | 30.19% | 25.03% | 22.17% |
| Profit Margin | 9.92% | -3.50% | -8.28% | -1.39% | 2.93% | -18.15% |
| EBITDA | 142.90M | 131.38M | 122.54M | 127.96M | 116.26M | 89.59M |
| EBITDA Margin | 50.42% | 49.05% | 53.85% | 57.04% | 56.35% | 54.84% |
| D&A For Ebitda | 78.98M | 73.20M | 56.11M | 60.23M | 64.62M | 53.37M |
| EBIT | 63.91M | 58.18M | 66.43M | 67.73M | 51.64M | 36.22M |
| EBIT Margin | 22.55% | 21.72% | 29.19% | 30.19% | 25.03% | 22.17% |
| Funds From Operations (FFO) | 108.92M | 64.96M | 38.15M | 59.87M | 57.32M | 16.47M |
| FFO Per Share | 1.84 | 1.27 | 1.39 | |||
| Adjusted Funds From Operations (AFFO) | 118.06M | 95.53M | 46.81M | 60.51M | 68.91M | 37.97M |
| AFFO Per Share | 1.87 | 1.70 | ||||
| FFO Payout Ratio | 81.31% | 115.20% | 97.97% | 67.82% | 86.17% | 158.85% |
| Effective Tax Rate | 5.19% | 1,159.15% | ||||
| Revenue as Reported | 306.46M | 281.14M | 237.01M | 232.99M | 212.64M | 168.76M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 2.06B | 2.07B | 1.80B | 1.67B | 1.69B | 1.44B |
| Cash & Equivalents | 38.19M | 54.22M | 23.11M | 45.08M | 39.49M | 37.25M |
| Investment In Debt and Equity Securities | 152.28M | 130.96M | 57.72M | 34.39M | 62.37M | 12.40M |
| Goodwill | 69.97M | 69.97M | 53.64M | 53.64M | 53.64M | 53.64M |
| Other Intangible Assets | 28.46M | 34.06M | 22.47M | 16.94M | 31.47M | 30.39M |
| Restricted Cash | 6.01M | 5.14M | 6.19M | 8.35M | 6.55M | 7.43M |
| Other Current Assets | 4.67M | 6.97M | 4.26M | |||
| Trading Asset Securities | 1.52M | 3.48M | 9.68M | |||
| Deferred Long-Term Tax Assets | 2.94M | 3.18M | 4.31M | 4.45M | ||
| Deferred Long-Term Charges | 5.38M | 3.39M | 6.72M | 377.00K | 2.03M | 3.31M |
| Other Long-Term Assets | 78.25M | 63.88M | 66.14M | 54.05M | 46.00M | 30.11M |
| Total Assets | 2.44B | 2.43B | 2.04B | 1.90B | 1.95B | 1.62B |
| Current Portion of Long-Term Debt | 89.96M | 93.05M | 490.34K | |||
| Long-Term Debt | 1.03B | 1.01B | 1.32B | 1.09B | 1.07B | 873.87M |
| Accounts Payable | 40.23M | 38.65M | 31.48M | 27.99M | 26.38M | 20.50M |
| Accrued Expenses | 21.00K | 75.00K | 68.75K | 86.99K | ||
| Other Current Liabilities | 12.54M | 8.80M | 9.64M | 10.48M | 11.44M | 10.56M |
| Long-Term Deferred Tax Liabilities | 6.43M | 6.56M | 5.95M | 6.19M | 6.21M | 7.72M |
| Other Long-Term Liabilities | 62.04M | 71.28M | 76.58M | 101.33M | ||
| Total Liabilities | 1.18B | 1.15B | 1.43B | 1.20B | 1.19B | 1.01B |
| Preferred Stock, Convertible | 196.36M | 196.36M | 196.36M | 196.36M | ||
| Common Stock | 55.00K | 55.00K | 97.00K | 97.00K | 96.94K | 85.11K |
| Additional Paid-In Capital | 1.84B | 1.84B | 895.12M | 894.86M | 894.28M | 724.74M |
| Distributions in Excess of Earnings | -680.68M | -657.57M | -567.81M | -491.46M | -430.68M | -381.81M |
| Comprehensive Income & Other | -383.00K | 733.00K | -1.71M | 847.00K | 3.65M | -279.98K |
| Total Common Equity | 1.16B | 1.18B | 325.70M | 404.34M | 467.36M | 342.73M |
| Minority Interest | 102.56M | 99.51M | 86.85M | 91.52M | 94.46M | 64.64M |
| Shareholders' Equity | 1.26B | 1.28B | 608.90M | 692.22M | 758.18M | 603.73M |
| Total Liabilities & Equity | 2.44B | 2.43B | 2.04B | 1.90B | 1.95B | 1.62B |
| Total Debt | 1.12B | 1.10B | 1.32B | 1.09B | 1.07B | 874.36M |
| Net Cash (Debt) | -1.08B | -1.04B | -1.30B | -1.04B | -1.02B | -837.10M |
| Net Cash Per Share | -19.53 | -22.07 | -53.83 | -42.92 | -44.29 | -42.15 |
| Filing Date Shares Outstanding | 55.37M | 55.36M | 24.06M | 24.22M | 24.24M | 21.33M |
| Total Common Shares Outstanding | 55.37M | 55.36M | 24.01M | 24.22M | 24.23M | 21.28M |
| Book Value Per Share | 20.89 | 21.32 | 13.57 | 16.70 | 19.28 | 16.11 |
| Tangible Book Value | 1.06B | 1.08B | 249.59M | 333.76M | 382.25M | 258.70M |
| Tangible Book Value Per Share | 19.11 | 19.44 | 10.40 | 13.78 | 15.77 | 12.16 |
| Land | 539.03M | 541.33M | 480.54M | 430.87M | 420.52M | 397.51M |
| Buildings | 1.80B | 1.78B | 1.52B | 1.40B | 1.38B | 1.12B |
| Construction In Progress | 8.40M | 6.44M | 9.50M | 5.98M | 4.49M | 1.80M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 28.83M | -1.55M | -5.62M | 9.75M | 18.82M | -16.90M |
| Depreciation & Amortization | 78.98M | 73.20M | 56.11M | 60.23M | 64.62M | 53.37M |
| Other Amortization | 3.74M | 3.90M | 4.12M | 2.73M | 2.59M | 1.68M |
| Gain (Loss) on Sale of Assets | -2.01M | -284.00K | -348.16K | |||
| Gain (Loss) on Sale of Investments | 2.05M | 8.39M | ||||
| Stock-Based Compensation | 14.68M | 16.62M | 5.26M | 5.26M | 3.97M | 2.91M |
| Income (Loss) on Equity Investments | 1.59M | 1.40M | 2.79M | 3.32M | 1.69M | 1.05M |
| Change in Accounts Receivable | -8.45M | -5.13M | -10.05M | -2.75M | 365.00K | -304.47K |
| Change in Accounts Payable | 3.84M | -5.64M | 7.86M | -3.25M | 3.29M | 99.04K |
| Change in Other Net Operating Assets | -3.12M | -218.00K | -693.00K | 964.00K | -798.00K | -1.90M |
| Other Operating Activities | -7.74M | 2.66M | 3.92M | -3.06M | -2.64M | 10.73M |
| Operating Cash Flow | 110.33M | 84.97M | 64.03M | 73.19M | 87.91M | 58.76M |
| Acquisition of Real Estate Assets | -147.26M | -318.28M | -161.65M | -26.84M | -84.31M | -75.21M |
| Sale of Real Estate Assets | 14.82M | 7.87M | 228.00K | 256.24K | ||
| Net Sale / Acq. of Real Estate Assets | -132.44M | -310.41M | -161.65M | -26.84M | -84.08M | -74.96M |
| Cash Acquisition | -8.06M | -8.06M | -65.54M | -46.49M | ||
| Investment in Marketable & Equity Securities | -53.82M | -36.57M | -7.67M | -10.80M | -9.83M | 7.70M |
| Other Investing Activities | 728.00K | -25.72M | -11.62M | 37.89M | -45.70M | -3.46M |
| Investing Cash Flow | -193.59M | -380.75M | -180.94M | 262.00K | -205.15M | -120.21M |
| Long-Term Debt Issued | 906.26M | 845.39M | 215.15M | 468.00M | 518.18M | |
| Long-Term Debt Repaid | -1.16B | -647.33M | -199.17M | -271.75M | -438.49M | |
| Net Debt Issued (Repaid) | 189.63M | -250.52M | 198.06M | 15.98M | 196.25M | 79.70M |
| Issuance of Common Stock | 931.50M | |||||
| Repurchase of Common Stock | -3.54M | -3.33M | -34.06M | -19.24M | -1.76M | -4.62M |
| Preferred Share Repurchases | -200.00M | |||||
| Common Dividends Paid | -88.57M | -74.83M | -37.38M | -40.60M | -49.39M | -26.16M |
| Preferred Dividends Paid | -6.97M | -12.51M | -12.50M | -12.50M | -12.28M | |
| Total Dividends Paid | -88.57M | -81.80M | -49.89M | -53.10M | -61.89M | -38.43M |
| Other Financing Activities | -12.21M | -70.62M | -19.29M | -9.74M | -12.53M | -10.96M |
| Foreign Exchange Rate Adjustments | -991.00K | 626.00K | -2.03M | 35.00K | -1.47M | -196.13K |
| Net Cash Flow | 1.06M | 30.07M | -24.13M | 7.39M | 1.35M | -35.97M |
| Levered Free Cash Flow | 113.12M | 104.67M | 61.88M | 77.76M | 82.42M | 61.16M |
| Unlevered Free Cash Flow | 142.08M | 138.20M | 102.97M | 113.66M | 105.77M | 80.34M |
| Cash Interest Paid | 46.98M | 56.45M | 66.01M | 55.65M | 36.52M | 27.22M |
| Cash Income Tax Paid | 893.00K | 470.00K | 298.00K | 407.00K | 266.00K | |
| Change in Working Capital | -7.74M | -10.99M | -2.88M | -5.04M | -3.19M | -2.11M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.02B | 1.71B | ||||
| Enterprise Value | 3.10B | 2.79B | ||||
| Last Close Price | 36.53 | 29.69 | ||||
| Price/FFO Ratio | 17.40 | 23.32 | ||||
| Price/AFFO Ratio | 15.88 | |||||
| PS Ratio | 7.14 | 6.40 | ||||
| PB Ratio | 1.75 | 1.34 | ||||
| P/OCF Ratio | 18.33 | 20.16 | ||||
| EV/Sales Ratio | 10.95 | 10.43 | ||||
| EV/EBITDA Ratio | 21.72 | 21.27 | ||||
| EV/EBIT Ratio | 48.57 | 48.02 | ||||
| Debt / Equity Ratio | 0.89 | 0.86 | 2.17 | 1.57 | 1.41 | 1.45 |
| Debt / EBITDA Ratio | 7.84 | 8.36 | 10.81 | 8.50 | 9.19 | 9.76 |
| Net Debt / Equity Ratio | 0.86 | 0.82 | 2.13 | 1.50 | 1.34 | 1.39 |
| Net Debt / EBITDA Ratio | 7.57 | 7.95 | 10.60 | 8.12 | 8.77 | 9.34 |
| Asset Turnover | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.11 |
| Quick Ratio | 0.27 | 0.39 | 0.52 | 1.26 | 1.30 | 1.18 |
| Current Ratio | 0.31 | 0.42 | 0.74 | 1.48 | 1.66 | 1.55 |
| Return on Equity (ROE) | 2.40% | -0.18% | -0.91% | 1.61% | 3.18% | -3.75% |
| Return on Assets (ROA) | 1.69% | 1.62% | 2.11% | 2.20% | 1.81% | 1.56% |
| Return on Invested Capital (ROIC) | 2.56% | -28.59% | 3.58% | 3.76% | 3.12% | 2.74% |
| Earnings Yield | 1.38% | -0.09% | ||||
| Payout Ratio | 316.91% | 544.37% | 328.83% | |||
| Buyback Yield / Dilution | -74.73% | -95.94% | 0.26% | -5.16% | -15.88% | -33.25% |
| Total Shareholder Return | -70.35% | -95.94% | 0.26% | -5.16% | -15.88% | -33.25% |