SmartStop Self Storage REIT, Inc. Stock Price, News & Analysis

SmartStop Self Storage REIT (NYSE: SMA) has acquired a self-storage facility in Lakewood, Colorado, within the Denver Metropolitan Statistical Area. The facility, located at 5885 W Colfax Ave, features approximately 66,850 net rentable square feet with 600 storage units across six buildings. The property offers a diverse mix of storage options including drive-up, ground-level interior non-climate-controlled, and upper-level interior climate-controlled units, accessible via three elevators. Located 3.5 miles from downtown Denver, the facility benefits from high visibility along West Colfax Avenue with 22,000 daily vehicles. The area shows strong growth potential with a projected 3.0% five-year population growth rate within a three-mile radius, serving multiple neighborhoods including Eiber, Two Creeks, Edgewater, Morse Park, North Alameda, and Sloan Lake.

SmartStop Self Storage REIT (NYSE: SMA), a leading self-storage facility operator in the US and Canada, has received a BBB credit rating with a Stable trend from Morningstar DBRS. The rating applies to SmartStop OP, L.P., the company's operating partnership, and its 2032 Private Placement Notes. The assessment was based on SmartStop's credit risk profile and its subsidiaries, supported by management presentations, financial forecasts, and organizational documentation as of May 21, 2025.

The rating assumes future senior unsecured debt will be unsubordinated and rank equally with other unsecured obligations, with full guarantees from SmartStop and its subsidiaries.

Strategic Storage Trust VI (SMA) reported strong Q1 2025 results with total revenues increasing 11.1% to $7.3 million compared to Q1 2024. The company achieved significant operational improvements, including a 6.8% increase in same-store revenues and a 13.6% rise in same-store NOI. Same-store average physical occupancy improved by 2.1% to 92.0%, while annualized rent per occupied square foot grew 3.7% to $17.01. The company completed major refinancing of its Canadian debt portfolio, including a CAD $64.0 million loan with National Bank of Canada, a CAD $16.0 million credit agreement with Meridian Credit Union, and a CAD $164.5 million financing with QuadReal Finance. These refinancing efforts resulted in significant interest rate reductions of 100-170 basis points compared to previous arrangements.

SmartStop Self Storage REIT (NYSE: SMA) reported its Q1 2025 results as a newly public company. The company saw same-store revenue growth of 3.2% and ended Q1 with 93.0% occupancy, up 100 basis points year-over-year. Total self storage revenues reached $59.2 million, increasing by $6.5 million from Q1 2024. However, net loss grew to $8.4 million, up $3.8 million year-over-year. Post-quarter, SmartStop completed an IPO of 31,050,000 shares at $30.00 per share, raising net proceeds of $875.6 million. The company acquired three facilities during Q1 for $82.5 million and has nine additional facilities under contract for approximately $157.8 million. The company began NYSE trading on April 2, 2025, under ticker "SMA" and used IPO proceeds to redeem preferred stock, pay down debt, and fund growth initiatives.

SmartStop Self Storage REIT (NYSE:SMA), a leading self-storage facility operator in the US and Canada, has announced its participation in Nareit's REITweek Investor Conference. The event, scheduled for June 2-5, 2025 in New York City, is the largest REIT-focused conference in the commercial real estate industry. The conference is expected to attract over 2,000 attendees, including REIT management teams, investors, and industry partners. More than 100 REIT management teams will present their business plans, with opportunities for one-on-one meetings between investors and companies.

SmartStop Self Storage REIT (NYSE:SMA) has announced the winners of its North American Door Wrap Design Contest. Eleven artists have been awarded $1,000 cash prizes each, along with the opportunity to showcase their artwork on storage unit doors at SmartStop's Ladera Ranch, California facility. Several other artists will receive $300 honorable mention prizes. The winning artists hail from various locations across the United States, including Florida, Colorado, Arizona, California, Washington, and Alaska. SmartStop plans to complete the installation of these artistic door wraps by June 15. CEO H. Michael Schwartz emphasized that the contest's goal was to provide artists with a canvas for inspiration while transforming ordinary storage units into vibrant artistic displays.

SmartStop Self Storage REIT (NYSE:SMA) has announced the complete rollout of its mobile app across all 220 locations in the United States and Canada. The proprietary app incorporates advanced features including biometrics and geographically enabled security capabilities.

The app enables customers to:

• Manage their accounts
• Make secure payments
• Rent new storage units
• Access gates and doors with a single touch

The mobile application, available for free on both iOS and Android platforms through the Apple App Store and Google Play Store, aims to provide customers with a fully integrated storage experience directly from their smartphones, eliminating the need for office visits.

SmartStop Self Storage REIT (NYSE:SMA), a leading self-storage facility owner and operator in the United States and Canada, has announced its participation in the upcoming BMO North American Real Estate Conference. The conference is scheduled for May 13-14, 2025, in New York City.

This annual event, hosted by BMO, will bring together key players in the real estate industry, including executives, institutional investors, and industry professionals from across North America. The two-day conference will feature:

• Industry presentations
• Panel discussions
• One-on-one meetings

Participants will gain comprehensive insights into the current real estate market landscape and future outlook.

SmartStop Self Storage REIT (NYSE:SMA) has announced achieving Security Interest Termination Conditions for its Credit Facility and 2032 Private Placement Notes, transitioning both facilities to fully unsecured status.

The achievement triggered immediate financial benefits including a 25 basis points reduction in credit spread pricing grid for Revolving Commitments and a 5 basis points decrease in unused fees on the Credit Facility. Additionally, SmartStop elected to reduce its Revolving Commitments under the Credit Facility by $100 million, bringing Total Commitments to $600 million.