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SmartStop Self Storage REIT, Inc.
American real estate investment trust based in Baltimore, active since 2013.
Price unavailable
Last updated Oct 18, 2026.
Overview
Compare with CENTERSPACE, SAUL CENTERS, INC. or Apollo Commercial Real Estate Finance, Inc., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
61.3%Gross margin3
21.0%Operating margin3
-3.1%Net margin3
18.6%Revenue growth, 20253
-0.7%Return on equity3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Self Storage Rental Revenue brought in 85% of the revenue SmartStop Self Storage REIT, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Self Storage Rental Revenue | $206.5M | $209.6M | $238.5M |
| Managed Platform Revenue | $11.9M | $11.4M | $19.2M |
| Reimbursable Costs From Managed Platform | $5.8M | $6.6M | $12.5M |
| Ancillary Operating Revenue | $8.8M | $9.4M | $11.0M |
Business segments
Self Storage brought in 89% of the revenue SmartStop Self Storage REIT, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Self Storage | $215.3M | $219.0M | $249.5M |
| Managed Platform | $17.7M | $18.0M | $31.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs78¢$219.3M
- Interest21¢$59.9M
- Income tax1¢$1.9M
Out of $281.1M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid88¢$74.8M
- Kept or used elsewhere12¢$10.1M
Out of $85.0M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $281.1M | $237.0M | $233.0M |
| General and administrative | $38.2M | $29.9M | $27.5M |
| Depreciation | $63.2M | $55.2M | $53.6M |
| Intangible amortization expense | $10.0M | $935.0K | $6.6M |
| Acquisition expenses | $2.0M | $413.0K | $193.0K |
| Contingent earnout adjustment | $221.0K | $0 | $0 |
| Total operating expenses | $222.3M | $167.8M | $162.4M |
| Income from operations | $59.1M | $69.2M | $70.6M |
| Gain on disposition of real estate | $284.0K | $0 | $0 |
| Other, net | -$21.0K | -$1.3M | -$231.0K |
| Interest income | $4.4M | $3.2M | $3.4M |
| Interest expense | -$59.9M | -$72.3M | -$61.8M |
| Loss on debt extinguishment | -$2.5M | -$471.0K | $0 |
| Income tax (expense) benefit | -$1.9M | -$1.5M | $2.6M |
| Net (loss) income | -$1.7M | -$5.9M | $11.6M |
| Net loss (income) attributable to noncontrolling interests | $190.0K | $266.0K | -$1.9M |
| Less: Distributions to preferred stockholders | -$3.6M | -$12.8M | -$12.5M |
| Less: Accretion- preferred equity costs | -$3.6M | $0 | $0 |
| Net loss attributable to SmartStop Self Storage REIT, Inc. common stockholders | -$8.8M | -$18.4M | -$2.7M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Land | $541.3M | $480.5M | |||
| Buildings | $1.8B | $1.5B | |||
| Site improvements | $103.1M | $94.6M | |||
| Real estate investment property, gross | $2.4B | $2.1B | |||
| Accumulated depreciation | -$366.4M | -$305.1M | -$255.8M | -$202.7M | |
| Real estate investment property | $2.1B | $1.8B | |||
| Construction in process | $6.4M | $9.5M | $6.0M | $4.5M | |
| Real estate facilities, net | $2.1B | $1.8B | $1.7B | ||
| Cash and cash equivalents | $54.2M | $23.1M | |||
| Restricted cash | $5.1M | $6.2M | |||
| Investments in unconsolidated real estate ventures (Note 6) | $36.7M | $38.8M | |||
| Investments in and advances to Managed REITs | $131.0M | $57.7M | |||
| Deferred tax assets | $3.2M | $4.3M | |||
| Other assets, net | $27.2M | $33.5M | |||
| Intangible assets, net of accumulated amortization | $18.4M | $6.8M | |||
| Trademarks, net of accumulated amortization | $15.7M | $15.7M | |||
| Goodwill | $70.0M | $53.6M | |||
| Debt issuance costs, net of accumulated amortization | $3.4M | $6.7M | |||
| Total assets | $2.4B | $2.0B | |||
| Debt, net | $1.1B | $1.3B | |||
| Accounts payable and accrued liabilities | $38.6M | $38.1M | |||
| Due to affiliates | $0 | $362.0K | |||
| Distributions payable | $8.8M | $9.3M | |||
| Deferred tax liabilities | $6.6M | $6.0M | |||
| Total liabilities | $1.2B | $1.4B | |||
| Additional paid-in capital | $1.8B | $895.1M | |||
| Distributions | -$463.2M | -$382.2M | |||
| Accumulated deficit | -$194.4M | -$185.6M | |||
| Accumulated other comprehensive income (loss) | $733.0K | -$1.7M | |||
| Total SmartStop Self Storage REIT, Inc. equity | $1.2B | $325.7M | |||
| Noncontrolling interests in our Operating Partnership | $99.5M | $86.5M | |||
| Other noncontrolling interests | $0 | $380.0K | |||
| Total noncontrolling interests | $99.5M | $86.8M | |||
| Total equity | $1.3B | $412.5M | $495.9M | $561.8M | |
| Total liabilities, temporary equity and equity | $2.4B | $2.0B | |||
| Common Stock, par value | $0.00 | $0.00 | $0.00 | ||
| Common Stock, shares authorized | 141.2M shares | 175.0M shares | 0 shares | ||
| Common Stock, shares issued | 55.4M shares | 0 shares | |||
| Common Stock, shares outstanding | 55.4M shares | 0 shares |
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Land | $541.3M | $480.5M | |||
| Buildings | $1.8B | $1.5B | |||
| Site improvements | $103.1M | $94.6M | |||
| Real estate investment property, gross | $2.4B | $2.1B | |||
| Accumulated depreciation | -$366.4M | -$305.1M | -$255.8M | -$202.7M | |
| Real estate investment property | $2.1B | $1.8B | |||
| Construction in process | $6.4M | $9.5M | $6.0M | $4.5M | |
| Real estate facilities, net | $2.1B | $1.8B | $1.7B | ||
| Cash and cash equivalents | $54.2M | $23.1M | |||
| Restricted cash | $5.1M | $6.2M | |||
| Investments in unconsolidated real estate ventures (Note 6) | $36.7M | $38.8M | |||
| Investments in and advances to Managed REITs | $131.0M | $57.7M | |||
| Deferred tax assets | $3.2M | $4.3M | |||
| Other assets, net | $27.2M | $33.5M | |||
| Intangible assets, net of accumulated amortization | $18.4M | $6.8M | |||
| Trademarks, net of accumulated amortization | $15.7M | $15.7M | |||
| Goodwill | $70.0M | $53.6M | |||
| Debt issuance costs, net of accumulated amortization | $3.4M | $6.7M | |||
| Total assets | $2.4B | $2.0B | |||
| Debt, net | $1.1B | $1.3B | |||
| Accounts payable and accrued liabilities | $38.6M | $38.1M | |||
| Due to affiliates | $0 | $362.0K | |||
| Distributions payable | $8.8M | $9.3M | |||
| Deferred tax liabilities | $6.6M | $6.0M | |||
| Total liabilities | $1.2B | $1.4B | |||
| Additional paid-in capital | $1.8B | $895.1M | |||
| Distributions | -$463.2M | -$382.2M | |||
| Accumulated deficit | -$194.4M | -$185.6M | |||
| Accumulated other comprehensive income (loss) | $733.0K | -$1.7M | |||
| Total SmartStop Self Storage REIT, Inc. equity | $1.2B | $325.7M | |||
| Noncontrolling interests in our Operating Partnership | $99.5M | $86.5M | |||
| Other noncontrolling interests | $0 | $380.0K | |||
| Total noncontrolling interests | $99.5M | $86.8M | |||
| Total equity | $1.3B | $412.5M | $495.9M | $561.8M | |
| Total liabilities, temporary equity and equity | $2.4B | $2.0B | |||
| Common Stock, par value | $0.00 | $0.00 | $0.00 | ||
| Common Stock, shares authorized | 141.2M shares | 175.0M shares | 0 shares | ||
| Common Stock, shares issued | 55.4M shares | 0 shares | |||
| Common Stock, shares outstanding | 55.4M shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | -$1.7M | -$5.9M | $11.6M |
| Depreciation and amortization | $73.2M | $56.1M | $60.2M |
| Change in deferred tax assets and liabilities | $1.0M | $845.0K | -$3.3M |
| Accretion of fair market value adjustment of secured debt | $717.0K | $120.0K | $13.0K |
| Amortization of debt issuance costs | $3.9M | $4.1M | $2.7M |
| Equity based compensation expense | $16.6M | $5.3M | $5.3M |
| Non-cash adjustment - equity method investments in unconsolidated real estate ventures | $407.0K | $1.4M | $1.6M |
| Non-cash adjustment - equity method investments in Managed REITs | $995.0K | $1.4M | $1.7M |
| Accretion of financing fee revenues | -$399.0K | -$181.0K | -$664.0K |
| Contingent earnout adjustment | $221.0K | $0 | $0 |
| Unrealized foreign currency and derivative (gains) losses | -$2.3M | $2.1M | -$1.0M |
| Loss on debt extinguishment | $2.5M | $471.0K | $0 |
| Issuance of noncontrolling interest in SST VI Advisor | $0 | $330.0K | $0 |
| Sponsor funding reduction | $1.1M | $844.0K | $34.0K |
| Gain on disposition of real estate | -$284.0K | $0 | $0 |
| Other assets, net | $141.0K | -$639.0K | $958.0K |
| Managed REITs receivables and other | -$5.1M | -$10.0M | -$2.8M |
| Due to affiliates | -$359.0K | -$54.0K | $6.0K |
| Accounts payable and accrued liabilities | -$5.6M | $7.9M | -$3.3M |
| Net cash provided by operating activities | $85.0M | $64.0M | $73.2M |
| Third Party Platform Acquisition, net of cash acquired | -$8.1M | $0 | $0 |
| Purchase of real estate | -$304.1M | -$146.4M | -$15.6M |
| Net proceeds from the disposition of real estate | $7.9M | $0 | $0 |
| Additions to real estate and construction in process | -$13.6M | -$11.5M | -$10.5M |
| Insurance proceeds on insured property damage | $4.2M | $500.0K | $1.7M |
| Deposits on acquisitions | -$543.0K | -$3.8M | -$753.0K |
| Settlement of foreign currency hedges designated for hedge accounting | $1.1M | $1.9M | $2.9M |
| Capital distributions from Managed REITs | $616.0K | $616.0K | $597.0K |
| Investments in unconsolidated real estate ventures | -$7.4M | -$8.9M | -$9.5M |
| Capital distributions from unconsolidated real estate ventures | $11.0M | $1.8M | $1.3M |
| Purchase of SST VI Subordinated Class C Units | -$658.0K | -$1.2M | -$3.2M |
| Purchase of other assets | -$73.0K | -$79.0K | -$183.0K |
| Purchase of other investments | -$4.8M | $0 | $0 |
| Redemption of other investments | $1.0M | $0 | $0 |
| Net cash (used in) provided by investing activities | -$380.8M | -$180.9M | $262.0K |
| Gross proceeds- Underwritten Public Offering | $931.5M | $0 | $0 |
| Offering costs | -$57.3M | -$144.0K | -$11.0K |
| Gross proceeds - issuance of Canadian Notes | $511.5M | $0 | $0 |
| Gross proceeds - issuance of non-credit facility debt | $74.8M | $175.4M | $80.1M |
| Repayment - non-credit facility debt | -$278.9M | -$20.0M | -$12.0M |
| Scheduled principal payments on non-credit facility debt | -$2.9M | -$3.5M | -$2.6M |
| Proceeds from issuance of credit facility debt | $320.0M | $670.0M | $135.0M |
| Repayment of credit facility debt | -$875.0M | -$623.8M | -$184.5M |
| Debt issuance costs | -$3.0M | -$10.1M | -$871.0K |
| Debt defeasance costs | -$754.0K | $0 | $0 |
| Payment of payroll withholding tax on stock vesting | -$3.0M | -$219.0K | -$247.0K |
| Redemptions of noncontrolling interests in our OP | -$230.0K | $0 | $0 |
| Redemption of Series A Convertible Preferred Stock | -$200.0M | $0 | $0 |
| Redemption of fractional common shares | -$290.0K | $0 | $0 |
| Redemption of common stock | $0 | -$33.8M | -$19.0M |
| Repurchase of noncontrolling interest in SST VI advisor | -$1.9M | $0 | $0 |
| Distributions paid - preferred stockholders | -$7.0M | -$12.5M | -$12.5M |
| Distributions paid - common stockholders | -$74.8M | -$37.4M | -$40.6M |
| Distributions paid - noncontrolling interests in our OP | -$7.1M | -$8.6M | -$8.3M |
| Distributions paid - other noncontrolling interests | -$365.0K | -$466.0K | -$588.0K |
| Net cash provided by (used in) financing activities | $325.2M | $94.8M | -$66.1M |
| Impact of foreign exchange rate changes on cash and restricted cash | $626.0K | -$2.0M | $35.0K |
| Change in cash, cash equivalents, and restricted cash | $30.1M | -$24.1M | $7.4M |
| Cash paid for interest, net of capitalized interest | $56.5M | $66.0M | $55.6M |
| Cash paid for income taxes | $470.0K | $298.0K | $407.0K |
| Issuance of shares pursuant to distribution reinvestment plan | $3.5M | $20.7M | $17.6M |
| Distributions payable | $8.8M | $9.3M | $9.2M |
| Real estate and construction in process included in accounts payable and accrued liabilities | $884.0K | $873.0K | $433.0K |
| Acquisition of real estate with loans payable | $25.3M | $40.7M | $0 |
| Deposit applied to the purchase of real estate | $2.7M | $0 | $400.0K |
| Redemption of common stock included in accounts payable and accrued liabilities | $0 | $0 | $3.9M |
| Earnest deposits on acquisitions assigned to the Managed REITs, amounts reclassified to Managed REITs receivables | $1.1M | $0 | $1.2M |
| Intangible assets applied to the purchase of real estate | $0 | $0 | $8.4M |
No quarter-by-quarter statement was filed.
Compare SmartStop Self Storage REIT, Inc. with another company
Leadership
Who has led SmartStop Self Storage REIT, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
20202025
- Chief executive officerH. Michael Schwartz Apr 26, 2016 to now11
- ChairH. Michael Schwartz Apr 26, 2016 to Apr 24, 202011
- PresidentWayne Johnson Jul 2, 2019 to now12
- PresidentH. Michael Schwartz Apr 26, 2016 to Jul 2, 201911
- Chief financial officerMatt F. Lopez Jan 27, 2017 to Jul 2, 201913
Board members and other officers (11)
- SVP, Self-Storage OperationsGerald Valle Jul 2, 2019 to Mar 11, 202414
- Chief Accounting OfficerMichael O. Terjung Jul 2, 2019 to now15
- Executive VP and SecretaryPaula Mathews Apr 26, 2016 to Nov 2, 201716
- Chief Investment OfficerWayne Johnson Apr 26, 2016 to now17
- Board memberWayne Johnson Mar 27, 2026 to now18
- Board memberLora A. Gotcheva Jul 17, 2025 to now19
- Board memberH. Michael Schwartz Apr 21, 2021 to now20
- Board memberDavid J. Mueller Apr 26, 2016 to now21
- Board memberPaula Mathews Apr 26, 2016 to now16
- Board memberWilliam H. Brownfield Apr 26, 2016 to Jun 10, 201622
- General counselNicholas Look Jul 2, 2019 to now23
Former names
- Strategic Storage Trust II, Inc.Sep 4, 2013 to Jun 27, 20192
Timeline
Filings
340 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 133 major events, 99 insider forms, 33 large holders, 55 other. The latest 20:
- Oct 5, 2026SCHEDULE 13G/A EDGAR
- Oct 1, 20268-K EDGAR
- Sep 29, 20268-K EDGAR
- Sep 17, 20264 PRIMARY DOCUMENT EDGAR
- Sep 16, 2026144 EDGAR
- Sep 9, 20268-K EDGAR
- Sep 3, 20268-K EDGAR
- Aug 18, 20264 PRIMARY DOCUMENT EDGAR
- Aug 18, 20264 PRIMARY DOCUMENT EDGAR
- Aug 18, 20268-K EDGAR
- Aug 17, 2026144 EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 13, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Aug 5, 20268-K EDGAR
- Aug 5, 2026SCHEDULE 13G EDGAR
- Jul 31, 2026SCHEDULE 13G EDGAR
- Jul 21, 20268-K EDGAR
- Jul 16, 2026144 EDGAR
The 340 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 33 such filings since October 2021, the latest 10:
- Oct 5, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 5, 2026SCHEDULE 13G
- Jul 31, 2026SCHEDULE 13G
- May 8, 2026SCHEDULE 13G/A
- Apr 29, 2026SCHEDULE 13G
- Apr 24, 2026SCHEDULE 13G/A
- Mar 27, 2026SCHEDULE 13G/A
- Feb 13, 2026SCHEDULE 13G/A
- Feb 6, 2026SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Mar 18, 2026 | Kevin HernRepublican, House | Sale | $500,001 - $1,000,000 | +10.8% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARWayne Johnson, President
- 13
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- 18SEC EDGARWayne Johnson, Board member
- 19SEC EDGARLora A. Gotcheva, Board member
- 20SEC EDGARH. Michael Schwartz, Board member
- 21SEC EDGARDavid J. Mueller, Board member
- 22SEC EDGARWilliam H. Brownfield, Board member
- 23SEC EDGARNicholas Look, General counsel
- 24