SmartStop Self Storage Q2 revenue rises on rent growth

SmartStop Self Storage REIT

05/08/2026 22:02

Overview
US self storage REIT's Q2 revenue rose 8% yr/yr to $65.8 mln
Q2 adjusted FFO per share grew 17.6% yr/yr to $0.49
Company completed $46 mln in acquisitions and bridge investments during the quarter

Outlook
SmartStop raises 2026 same-store NOI and FFOa per share guidance
Company expects efficiencies from scale and expense control to support future results
SmartStop says Deca Initiative will guide growth in coming years

Result Drivers
OPERATING EFFICIENCIES - Co said improved same-store results were driven by its revenue management platform, operational teams, efficiencies from scale, and expense control
ACQUISITIONS - Co deployed over $46 mln in acquisitions and bridge capital investments during the quarter
RENT GROWTH - Same-store annualized rent per occupied square foot increased 1.9% yr/yr

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.20
 
Q2 Net Income
 
$11.20 mln
 
Q2 Adjusted FFO
 
$29.30 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for SmartStop Self Storage REIT Inc is $36.00, about 6.9% above its August 4 closing price of $33.68
The stock recently traded at 68 times the next 12-month earnings vs. a P/E of 79 three months ago

Reuters Recommended Reads
Aug 5 - NNN REIT beats Q2 revenue estimates, raises 2026 guidance
Aug 4 - Macerich Q2 net loss narrows, adjusted FFO rises
Aug 4 - Kimco Realty Q2 FFO rises, lifts 2026 outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)