secwatch.observer — SEC 8-K summary
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Issuer:     SmartStop Self Storage REIT, Inc. (SMA)
CIK:        0001585389
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0001193125-26-071534
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartStop Q4 net income $2.8M, FFO adj $0.55; FY25 FFO adj $1.87 (+10% YoY)
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- Net income $2.8M in Q4 vs net loss $3.7M YoY; diluted EPS $0.05 (improved from -$0.16).
- FFO as adjusted per share diluted $0.55 (Q4) and $1.87 (FY), up 31% and 10% YoY respectively.
- Same-store NOI -0.3% Q4, +0.6% FY; revenue +0.4% Q4, +1.6% FY; occupancy 92.3% Q4.
- New $500M unsecured credit facility (upsize to $1.6B) with 35 bps lower pricing; 4-yr term.
- Acquired Argus management platform for $21.1M; Q4 acquisitions include Winter Garden ($15.3M) and Canadian JV ($3M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1585389/000119312526071534/0001193125-26-071534-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1585389/000119312526071534/ck0001585389-20260225.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-071534

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer