SmartStop Self Storage REIT, Inc. (SMA) AI Stock Analysis

• Market Cap: $1.45B
• Dividend Yield: 2.12%
• Average Volume (3M): 692.84K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.16
• Revenue Growth: 8.86%
• EPS Growth: -166.90%
• Country: US
• Employees: 560
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Specialty
• EPS (TTM): -0.16
• Shares Outstanding: 31,050,000
• 10 Day Avg. Volume: 815,166
• 30 Day Avg. Volume: 692,840
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 2.07
• Enterprise Value/Revenue: 11.86
• Enterprise Value/Gross Profit: 18.48
• Enterprise Value/Ebitda: 24.39
• 1Y Price Target: $39.88
• Price Target Upside: 6.23% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9

• Rating: 61 Neutral
• Price Target: $39.00 ▲(3.89% Upside)

SmartStop Self Storage REIT, Inc. has a moderate overall stock score driven by positive corporate events and technical analysis indicators. The company's financial performance is stable but challenged by high leverage and negative profitability, which impacts its valuation. The recent public offering and dividend declarations are positive signs, but the negative P/E ratio and profitability issues remain concerns.

Positive Factors

Strategic Growth Initiatives

The successful public offering and NYSE listing provide significant capital to reduce debt and expand the property portfolio, positioning SmartStop for future growth and enhancing its market presence.

Dividend Commitment

Consistent dividend declarations reflect SmartStop's commitment to shareholder returns, potentially increasing investor confidence and appeal over the long term.

Operational Efficiency

The increase in occupancy rates indicates effective management of storage facilities, contributing to stable revenue streams and operational efficiency, which are crucial for long-term success.

Negative Factors

High Leverage

High leverage can strain financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities and manage economic downturns.

Profitability Challenges

Ongoing profitability issues, as indicated by a negative net profit margin, can hinder SmartStop's ability to reinvest in its business and may affect long-term financial stability.

Declining Free Cash Flow

A decline in free cash flow growth can impact liquidity and limit the company's ability to fund new projects or weather financial challenges, affecting its long-term operational capabilities.

SmartStop Self Storage REIT, Inc. Business Overview & Revenue Model

Company Description

SmartStop Self Storage REIT, Inc. (SMA) is a real estate investment trust that focuses on the acquisition, development, and management of self-storage facilities across the United States and Canada. The company operates in the real estate sector, specifically within the self-storage industry, and offers a range of storage solutions for personal, business, and vehicle storage needs. SmartStop aims to provide high-quality services and facilities to meet the diverse needs of its customers.

How the Company Makes Money

SmartStop generates revenue primarily through the rental of storage units to customers, which constitutes its main revenue stream. The company offers various types of storage options, including climate-controlled units, traditional storage units, and vehicle storage, catering to both individual and commercial clients. Additionally, SmartStop may earn income from ancillary services such as the sale of moving supplies and insurance options for stored items. The company's revenue model is supported by a strategic focus on acquiring and developing high-demand storage properties in key markets, enhancing its portfolio and operational efficiency. Partnerships with local businesses and online platforms for marketing can also contribute to increased customer acquisition and higher occupancy rates, further bolstering its earnings.

SmartStop Self Storage REIT, Inc. Financial Statement Overview

Summary

SmartStop Self Storage REIT, Inc. demonstrates stable revenue growth and strong gross margins, but faces challenges with profitability and high leverage. The balance sheet reflects significant debt, which could impact financial flexibility. Cash flow generation is positive, though recent declines in free cash flow growth warrant attention. Overall, the company shows potential for growth but must address profitability and leverage concerns to enhance financial health.

Income Statement

SmartStop Self Storage REIT, Inc. shows a modest revenue growth rate of 3.12% TTM, indicating steady expansion. However, the company struggles with profitability, as evidenced by a negative net profit margin of -3.76% TTM. The gross profit margin remains healthy at 67.11%, but the declining EBIT margin from 30.41% in 2023 to 28.00% TTM suggests pressure on operational efficiency.

Balance Sheet

The company has a high debt-to-equity ratio of 2.49 TTM, indicating significant leverage, which could pose financial risks. The return on equity is negative at -1.52% TTM, reflecting challenges in generating returns for shareholders. However, the equity ratio of 52.82% TTM suggests a reasonable proportion of equity financing.

Cash Flow

Operating cash flow remains positive with a coverage ratio of 1.16 TTM, indicating adequate cash generation relative to net income. However, free cash flow growth has declined by 15.39% TTM, which could impact future liquidity. The free cash flow to net income ratio of 1.0 TTM shows that cash flow aligns with reported earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	253.07M	237.01M	232.99M	206.32M	168.76M	124.02M
Gross Profit	162.42M	157.69M	158.50M	148.91M	114.91M	77.11M
EBITDA	123.09M	124.03M	131.09M	127.25M	65.38M	21.09M
Net Income	-12.93M	-5.62M	9.75M	18.82M	-16.90M	-44.30M
Balance Sheet
Total Assets	2.30B	2.04B	1.90B	1.95B	1.62B	1.28B
Cash, Cash Equivalents and Short-Term Investments	37.72M	23.11M	45.08M	39.49M	37.25M	72.71M
Total Debt	950.01M	1.32B	1.09B	1.07B	873.87M	724.38M
Total Liabilities	1.00B	1.37B	1.13B	1.11B	943.22M	785.29M
Stockholders Equity	1.22B	584.10M	671.97M	740.29M	610.42M	436.93M
Cash Flow
Free Cash Flow	50.91M	64.03M	73.19M	87.91M	58.76M	26.77M
Operating Cash Flow	50.91M	64.03M	73.19M	87.91M	58.76M	26.77M
Investing Cash Flow	-403.21M	-180.94M	262.00K	-205.15M	-120.21M	-28.96M
Financing Cash Flow	354.03M	94.82M	-66.10M	120.07M	25.67M	13.74M

SmartStop Self Storage REIT, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPR	―	$4.09B	26.42	7.56%	6.53%	1.37%	-16.66%
RYN	―	$3.59B	9.95	36.96%	11.75%	9.90%	137.73%
Sector *	―	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CXW	―	$2.01B	19.57	7.11%	―	1.62%	55.45%
OUT	―	$3.01B	29.70	14.89%	9.17%	-2.49%	-52.99%
SMA	―	$1.45B	―	-1.46%	2.12%	8.86%	-166.90%
UNIT	―	$1.43B	26.17	―	―	1.95%	353.63%

SmartStop Self Storage REIT, Inc. Corporate Events

SmartStop Self Storage Announces October 2025 Dividend

On September 26, 2025, SmartStop Self Storage REIT, Inc. announced a dividend for October 2025, targeting an annualized dividend of $1.60 per share. The dividend, with a record date of October 31, 2025, and payable on November 14, 2025, underscores the company’s commitment to returning value to its shareholders.

The most recent analyst rating on (SMA) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Self Storage Highlights Growth in Investor Presentation

SmartStop Self Storage REIT, Inc. has released materials for investor presentations, highlighting its growth and market positioning. The company has expanded its portfolio by approximately 86% over the last five years, emphasizing its strategic focus on high-growth markets, including Canada and the Greater Toronto Area.

The most recent analyst rating on (SMA) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Self Storage Acquires Argus for $21 Million

On September 24, 2025, SmartStop Self Storage REIT, Inc. announced a strategic move to acquire Argus Professional Storage Management, a significant player in the self-storage management sector. This acquisition, valued at $21 million with potential additional earnouts, will expand SmartStop’s portfolio to over 460 properties in North America. The merger is expected to close in October 2025 and is seen as a game-changing deal that will enhance SmartStop’s market position by integrating Argus’ reputable management capabilities with SmartStop’s technology-driven platform. The transaction is anticipated to be immediately accretive to SmartStop’s financial performance and will offer flexible partnership options to storage owners, thereby strengthening its industry presence.

The most recent analyst rating on (SMA) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Closes CAD$200M Series B Notes Offering

On September 24, 2025, SmartStop Self Storage REIT, Inc. announced the closing of its CAD$200 million Series B Senior Unsecured Notes due 2030, marking its second senior unsecured Canadian bond offering. The notes, rated BBB mid with a Stable Outlook by Morningstar DBRS, are part of SmartStop’s strategy to strengthen its presence in the Canadian market, repay existing debt, fund acquisitions, and support general corporate purposes. The issuance reflects SmartStop’s strategic financial planning and its ability to capitalize on favorable market conditions, further reinforcing its position in the self-storage industry.

The most recent analyst rating on (SMA) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Announces CAD $200M Maple Bond Offering

On September 22, 2025, SmartStop Self Storage REIT, Inc. announced the pricing of a CAD $200 million Canadian Maple Bond offering, with the bonds due in 2030 and bearing an interest rate of 3.888% per annum. The proceeds from this offering, which is limited to Canadian investors, will be used to repay existing debt, fund acquisitions, and for general corporate purposes, potentially strengthening SmartStop’s financial position and growth prospects.

The most recent analyst rating on (SMA) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Self Storage Reports Stable August Metrics

On September 15, 2025, SmartStop Self Storage REIT, Inc. reported metrics for its same store facilities, showing slight increases in physical occupancy and monthly web rates as of August 31, 2025, compared to the previous year. The announcement indicates stable performance in the company’s operations, with minor fluctuations in move-in and in-place rates, reflecting its steady positioning in the self-storage market.

The most recent analyst rating on (SMA) stock is a Hold with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Self Storage Joins 2025 Fall Conference

On September 3, 2025, SmartStop Self Storage REIT, Inc. announced its participation in the Self Storage Association’s 2025 Fall Conference & Trade Show. The company reported a 2.9% year-over-year revenue growth for its same-store facilities in July 2025 compared to July 2024, excluding tenant protection program revenue. This metric reflects the company’s operational performance and its ability to generate increased revenue from its existing properties.

The most recent analyst rating on (SMA) stock is a Hold with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Declares September 2025 Dividend

On August 28, 2025, SmartStop Self Storage REIT, Inc.‘s Board of Directors declared a dividend for September 2025, targeting an annualized dividend of $1.60 per share. This decision impacts stockholders with dividends payable on October 15, 2025, reflecting the company’s commitment to providing returns to its investors.

The most recent analyst rating on (SMA) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Completes Public Offering and NYSE Listing

On August 22, 2025, SmartStop Self Storage REIT, Inc. announced the successful completion of a public offering and NYSE listing, raising $875.6 million. The company has used these proceeds to strengthen its financial position, reduce debt, and expand its property portfolio, positioning itself for future growth. The offering has also enhanced stockholder liquidity, with Class A and Class T shares set to convert to listed shares on October 1, 2025. Despite initial concerns about the offering price, the management remains optimistic about the company’s growth prospects and market positioning.

The most recent analyst rating on (SMA) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Reports Slight Increase in Occupancy Rates

On August 11, 2025, SmartStop Self Storage REIT, Inc. reported metrics for its same store facilities, showing a slight increase in physical occupancy from 92.0% in 2024 to 92.8% in 2025. However, the company experienced a decrease in monthly web and move-in rates over the same period, while monthly in-place rates remained stable. These metrics provide insights into the company’s operational performance and market conditions over the past year.

The most recent analyst rating on (SMA) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.

SmartStop Self Storage REIT Reports Strong Q2 2025 Performance

SmartStop Self Storage REIT, Inc. is a self-managed and fully-integrated real estate investment trust specializing in self-storage facilities across the United States and Canada. The company operates in the real estate sector, focusing on providing storage solutions for individuals and businesses.

SmartStop Declares August 2025 Dividend Announcement

On July 31, 2025, SmartStop Self Storage REIT, Inc. declared a dividend for August 2025, targeting an annualized dividend of $1.60 per share. The dividend will be payable on September 3, 2025, to stockholders of record as of August 29, 2025, impacting the company’s financial distribution strategy and potentially influencing investor sentiment.

The most recent analyst rating on (SMA) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on SmartStop Self Storage REIT, Inc. stock, see the SMA Stock Forecast page.