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

SmartStop Self Storage REIT (NYSE: SMA) has expanded into the Montréal market with its first facility in Québec, marking a significant milestone in its Canadian expansion. The new state-of-the-art facility in Dorval, developed in partnership with SmartCentres REIT, offers 112,000 net rentable square feet and 1,250 climate-controlled units. The six-story building features three elevators and modern amenities, strategically located along the Trans-Canada Highway with exposure to over 120,000 vehicles daily. The facility is operated by SmartStop through its managed REIT, Strategic Storage Trust VI. As the largest self-storage operator in the Greater Toronto Area, this expansion strengthens SmartStop's coast-to-coast presence in Canada.

Strategic Storage Trust VI (SST VI), affiliated with SmartStop Self Storage REIT (NYSE: SMA), has opened a new Class A self-storage facility in Dorval, Quebec. The five-story facility, built on 2.22 acres at 2990 Boulevard Sunnybrooke, offers 112,000 net rentable square feet with approximately 1,250 climate-controlled units. Located near the Trans-Canada Highway with visibility to 120,000 vehicles daily, the facility features three elevators and serves multiple nearby communities including Pointe-Claire, Kirkland, and Dollard-Des Ormeaux. This marks SST VI's first location in Quebec, strengthening its Canadian presence. The development was completed in partnership with SmartCentres (TSX: SRU.UN).

SmartStop Self Storage REIT (NYSE: SMA), a leading self-storage facility operator in the US and Canada, will be added to the Russell 3000® Index following the annual reconstitution effective June 27, 2025. This milestone follows SmartStop's NYSE listing in April 2025 and represents significant recognition for the company. The Russell 3000 Index includes the 3,000 largest U.S.-traded stocks by market cap and serves as the foundation for other indexes like Russell 1000® and Russell 2000®. SmartStop's final placement in these subindexes will depend on its relative market capitalization. CEO H. Michael Schwartz highlighted this achievement as a reflection of the company's progress and platform scale, expecting increased visibility among institutional investors.

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.