T. Rowe Price discloses 19% SmartStop Self Storage stake (SMA)

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. has filed an amended beneficial ownership report showing a significant stake in SmartStop Self Storage REIT. The firm reports beneficial ownership of 5,913,679 REIT shares, representing 19.0% of the class as of the stated event date. T. Rowe Price has sole power to vote 5,903,388 shares and sole power to dispose of 5,913,679 shares, with no shared voting or dispositive power.

The filer identifies itself as an investment adviser and states that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of SmartStop. T. Rowe Price also expressly denies being the beneficial owner of the securities referenced, despite reporting them for regulatory purposes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

SMARTSTOP SELF STORAGE REIT

(Name of Issuer)

REIT

(Title of Class of Securities)

83192D402

(CUSIP Number)

12/31/2025

(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 5,903,388.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,913,679.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,913,679.00

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)

19.0 %

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: 5913679
(b)	Percent of class: 19.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5903388
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5913679
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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:	01/08/2026

FAQ

What ownership stake in SMARTSTOP SELF STORAGE REIT (SMA) does T. Rowe Price report?

T. Rowe Price Associates, Inc. reports beneficial ownership of 5,913,679 shares of SMARTSTOP SELF STORAGE REIT, representing 19.0% of the outstanding class as of the reported date.

How much voting power does T. Rowe Price have in SMARTSTOP SELF STORAGE REIT (SMA)?

T. Rowe Price reports sole voting power over 5,903,388 shares of SMARTSTOP SELF STORAGE REIT and no shared voting power.

What type of entity is T. Rowe Price in this SMARTSTOP SELF STORAGE REIT (SMA) filing?

T. Rowe Price Associates, Inc. identifies its reporting status as an investment adviser (IA) under the applicable SEC rules.

Is T. Rowe Price seeking to influence control of SMARTSTOP SELF STORAGE REIT (SMA)?

No. T. Rowe Price certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of SMARTSTOP SELF STORAGE REIT.

Does T. Rowe Price claim beneficial ownership of the SMARTSTOP SELF STORAGE REIT (SMA) shares?

T. Rowe Price states that the filing shall not be construed as an admission that it is the beneficial owner of the securities referenced, and that such beneficial ownership is expressly denied.

What is the date of the ownership event reported for SMARTSTOP SELF STORAGE REIT (SMA)?

The reported date of the event requiring this ownership statement is 12/31/2025.