earnings
confidence high
sentiment negative
materiality 0.55
SST VI reports Q4 2023 revenue $6.4M, NOI $3.3M; accumulated deficit $64.1M
Strategic Storage Trust VI, Inc.
- Q4 revenue $6.4M (up from $3.3M YoY); net operating income $3.3M (up from $1.9M YoY).
- Accumulated deficit $64.1M as of Dec 31, 2023; company expects no profitability in 2024.
- Portfolio: 24 operating properties, 6 developments; ~2.1M RSF, 18,540 units; occupancy 85% as of Mar 31, 2024.
- Raised ~$340M (public/private/preferred equity); loan-to-total assets approx 51% as of Dec 31, 2023.
- Distributions paid solely from offering proceeds; not from operations, per management disclosure.