T. Rowe Price discloses 5,202,808 SMA shares in passive 13G

Rhea-AI Filing Summary

SmartStop Self Storage REIT disclosed that T. Rowe Price Associates, Inc. filed an amended Schedule 13G reporting beneficial ownership of 5,202,808 shares, representing 16.8% of the class as of the stated event date. The firm reports sole voting power over 5,193,297 shares and sole dispositive power over 5,202,808 shares.

The filing is made under Rule 13d-1 by an investment adviser and includes a certification that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer. This reflects a passive institutional position rather than an activist stance.

Insights

Securities law analyst

Large passive stake: 16.8% reported via Schedule 13G.

T. Rowe Price Associates reports beneficial ownership of 5,202,808 shares (16.8%) in SmartStop Self Storage REIT. It lists sole voting power over 5,193,297 shares and sole dispositive power over 5,202,808 shares, consistent with an investment adviser reporting on behalf of clients.

Because this is a Schedule 13G with an ordinary-course certification, it signals a passive holding rather than an attempt to influence control. The size is notable, but the filing does not specify transaction timing or future intentions beyond the passive stance.

Subsequent filings may provide updates to ownership percentages if positions change or if the share count of the issuer changes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

SMARTSTOP SELF STORAGE REIT

(Name of Issuer)

REIT

(Title of Class of Securities)

83192D402

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 83192D402

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,193,297.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,202,808.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,202,808.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SMARTSTOP SELF STORAGE REIT
(b)	Address of issuer's principal executive offices: 10 TERRACE ROAD, LADERA RANCH, CA, 92694
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: REIT
(e)	CUSIP No.: 83192D402
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5202808
(b)	Percent of class: 16.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5193297
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5202808
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	11/14/2025

FAQ

What stake in SMA did T. Rowe Price report?

T. Rowe Price Associates reported beneficial ownership of 5,202,808 shares, or 16.8% of the class.

Does the SMA filing indicate activist intent by T. Rowe Price?

No. The certification states the shares were acquired and are held in the ordinary course of business, not to influence control.

What voting power did T. Rowe Price report for SMA?

It reported sole voting power over 5,193,297 shares and no shared voting power.

What dispositive power did T. Rowe Price report for SMA?

It reported sole dispositive power over 5,202,808 shares and no shared dispositive power.

Under which rule was the SMA Schedule 13G/A filed?

It was filed as an investment adviser under Rule 13d-1(b) (Type: IA).

What is the date of the event requiring the SMA filing?

The event date is 09/30/2025.