Quarterly ResultMay 8, 2026, 04:18 PM
SmartStop Q1 Net Income $9.58M; EPS $0.17; Revenue $78.31M
AI Summary
SmartStop Self Storage REIT, Inc. reported a significant turnaround in its first quarter 2026 financial results, achieving net income attributable to common stockholders of $9.58 million, compared to a loss of $8.41 million in the prior year. Basic EPS improved to $0.17 from a loss of $0.35. Total revenues increased to $78.31 million, driven by growth in both self storage rental and Managed Platform revenues. The company also announced an At-The-Market (ATM) Agreement to potentially sell up to $300 million in common stock.
Key Highlights
- Net income attributable to common stockholders was $9.58 million for Q1 2026, a significant improvement from a $(8.41) million loss in Q1 2025.
- Basic EPS was $0.17 for Q1 2026, up from $(0.35) in Q1 2025.
- Total revenues increased to $78.31 million in Q1 2026 from $65.45 million in Q1 2025.
- Self storage rental revenue grew to $61.91 million in Q1 2026 from $56.59 million in Q1 2025.
- Managed Platform revenue rose to $6.61 million in Q1 2026 from $4.11 million in Q1 2025.
- Net cash provided by operating activities more than doubled to $24.24 million in Q1 2026 from $10.55 million in Q1 2025.
- The company entered into an ATM Agreement to sell up to $300 million of Common Stock.
- SmartStop manages over 275 operating self storage properties, totaling 20.9 million rentable square feet.
Price Impact
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