| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 79.28 | 1.2% | 18.6% |
| Total Income | 79.28 | 1.2% | 18.6% |
| Expenditure | 61.89 | 2.3% | 9.4% |
| PBT | — | ||
| Net Profit | 11.25 | 17.4% | 234.6% |
| OPM | 22.55% | 1.83pp | 7.19pp |
| NPM | 14.19% | 1.96pp | 26.70pp |
| EPS | — |
SmartStop Self Storage REIT, Inc. Reports Second Quarter 2026 Results
06 Aug 2026 · 6 Aug, 1:43 am
Summary
SmartStop Self Storage REIT, Inc. reported strong second quarter 2026 results, with total self storage-related revenues reaching approximately $65.8 million, up $4.9 million year-over-year. Funds from Operations (FFO) as adjusted also increased by $4.9 million to $29.3 million, with FFO as adjusted per share rising to $0.49. Same-store revenues grew 1.3% and same-store NOI increased by 3.7%, driven by effective revenue management and expense control. Management highlighted the deployment of over $46 million in acquisitions and investments, underscoring their strategic growth initiatives.
Key Highlights
- 1
For the three months ended June 30, 2026, total self storage-related revenues were approximately $65.8 million, an increase of approximately $4.9 million compared to the same period in 2025.
- 2
Funds from Operations (FFO) as adjusted for common stockholders and OP unit holders was approximately $29.3 million for Q2 2026, an increase of approximately $4.9 million compared to the same period in 2025.
- 3
FFO as adjusted per share and OP unit outstanding – diluted was $0.49 for Q2 2026, an increase of approximately $0.07 per share compared to the same period in 2025.
- 4
Same-store revenues increased by 1.3% and same-store net operating income (NOI) increased by 3.7% for the three months ended June 30, 2026, compared to the same period in 2025.
- 5
For the six months ended June 30, 2026, total self storage-related revenues were approximately $130.7 million, an increase of approximately $10.6 million compared to the same period in 2025.
- 6
FFO as adjusted per share and OP unit outstanding – diluted was $0.98 for the six months ended June 30, 2026, an increase of approximately $0.15 per share compared to the same period in 2025.
- 7
The Company deployed over $46 million in the second quarter into accretive on balance sheet acquisitions and bridge capital investments.
Management Comments
H. Michael Schwartz
We posted a strong quarter of growth, highlighted by 17.6% year over year increase in our Funds from Operations as Adjusted per share. Our strong same-store results were driven by our revenue management platform, talented operations and store level teams, growing efficiencies from scale, and effective expense control. Further, our same-store operating margins were 67.3% this quarter, up 150 basis points year over year. These improvements in our core operations led us to increase our 2026 same store NOI guidance and FFOa per share guidance. Additionally, we deployed over $46 million this quarter into accretive on balance sheet acquisitions and bridge capital investments, while also organically reducing our cash flow leverage from the prior quarter. These accomplishments are emblematic of our recently introduced Deca Initiative, the framework that will guide our Company’s growth over the coming years.
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