Recent 8-K filings for SMA
Highest-materiality recent filing
SmartStop (SMA) closes $874M offering, lists on NYSE; cuts distribution to $1.60 annualized
- Closed offering of 31.05M shares at $30/sh, raising ~$874.4M net; shares trade on NYSE as SMA.
- Net proceeds used to redeem Series A preferred, reduce debt, fund acquisitions.
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SmartStop same-store occupancy dips to 92.3%; web rates and move-in rates decline YoY
Physical occupancy 92.3% at Mar 31 2026 (vs 93.0% YoY); 92.6% at Apr 30 (vs 93.0%).
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SmartStop Q1 net income $9.6M vs year-ago loss, FFO as adj $0.49/share +19.5% YoY
Net income attributable to common stockholders $9.6M ($0.17/diluted share) vs loss of $8.4M ($0.35 loss) in Q1 2025.
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SmartStop Self Storage REIT registers $300M ATM stock offering
Up to $300M of common stock may be sold through agents or via forward sale agreements.
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SmartStop Q4 net income $2.8M, FFO adj $0.55; FY25 FFO adj $1.87 (+10% YoY)
Net income $2.8M in Q4 vs net loss $3.7M YoY; diluted EPS $0.05 (improved from -$0.16).
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SmartStop closes $500M unsecured credit facility with $1.6B accordion, lower pricing
Second amended & restated credit facility replaces Feb 2024 facility; total capacity $500M, may increase by $1.1B to $1.6B.
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Same-store occupancy up to 92.5% but web/move-in rates down sharply YoY
Physical occupancy 92.5% at Oct 31, 2025 vs 92.3% a year earlier.
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SmartStop Q3 net income $5.2M vs loss; same-store NOI +1.5%; $200M CAD bond; Argus deal
Q3 net income $5.2M vs -$6.2M YoY; EPS $0.09 vs -$0.26; revenue $64.6M, up $9.2M.
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SmartStop closes CAD $200M 3.888% senior notes due 2030 in second Maple Bond offering
Issued CAD $200M aggregate principal of Series B Senior Unsecured Notes due September 24, 2030.
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SmartStop to acquire Argus Professional Storage Management for $21M upfront plus $11M earnout
Total upfront consideration of $21M: $8.5M cash and 328,343 OP units; earnout up to $11M based on FY2028 revenue.
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SmartStop Self Storage July 2025 same-store revenue +2.9% YoY
July 2025 same-store revenue growth of 2.9% YoY for stabilized properties comparable since Jan 1, 2024.
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SmartStop CEO details post-IPO achievements; lock-up expires Oct 1, 2025
IPO raised $875.6M net; shares traded as high as $37.79 vs $30 issue price.
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SmartStop Q2 net loss widens to $8.4M; FFO as adjusted per share $0.42; same-store NOI -1.1%
Net loss $8.4M ($0.16/sh) vs $3.8M loss in Q2 2024; FFO as adjusted $24.4M ($0.42/sh) up from $12.4M.
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SmartStop issues CAD$500M 3.907% notes due 2028; under contract for CAD$97M Alberta acquisitions
Issued CAD$500M 3.907% senior unsecured notes due 2028; effective rate ~3.85% after hedge; rated BBB (Stable) by DBRS.
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SmartStop Self Storage REIT terminates share redemption program and DRP
Board terminated SRP effective immediately; all pending and future redemption requests will not be processed.
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SmartStop Q1 net loss $8.4M; FFO as adjusted $0.41/diluted share; same-store revenue +3.2%
Net loss attributable to common stockholders $8.4M (loss per Class A & T $0.35), vs loss $4.6M ($0.20) in Q1 2024.
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SmartStop reduces credit facility by $100M, flips to fully unsecured status
Revolving commitments reduced by $100M, total commitments now $600M.
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SmartStop (SMA) closes $874M offering, lists on NYSE; cuts distribution to $1.60 annualized
Closed offering of 31.05M shares at $30/sh, raising ~$874.4M net; shares trade on NYSE as SMA.
Earnings & guidance
Materiality & sentiment trend
Max materiality 0.85 · Median 0.50 · Most common event other_material