Smartstop Self Storage Reit, Inc. · NYSE:SMA
Smartstop Self Storage Reit — Q2 2026 Earnings Presentation
19 slides from Smartstop Self Storage Reit's earnings presentation, Aug 6, 2026
Slide 1: SmartStop Self Storage REIT, Inc. Reports Second Quarter 2026 Results
August 5, 2026 SmartStop Self Storage REIT, Inc. Reports Second Quarter 2026 Results LADERA RANCH, CA – August 5, 2026 – SmartStop Self Storage REIT, Inc. (“SmartStop” or “the Company”), a self- managed and fully-integrated self storage company, announced its overall results for the three and six mo
Slide 2: Second Quarter 2026 Financial Highlights
Stock, (basic and diluted) was $0.37. This represents an increase of approximately $0.80 per share when compared to the same period in 2025. · Total self storage-related revenues were approximately $130.7 million, an increase of approximately $10.6 million when compared to the same period in 2025. ·
Slide 3: Acquisitions, Management and Distribution Updates
of the Managed REIT Merger and, accordingly, will continue to advise and manage the combined company following the anticipated closing in the fourth quarter of 2026. Eminent Domain Update On April 27, 2026, the North Carolina Department of Transportation (the “NC DOT”) took the majority of the Ashev
Slide 4: Consolidated Balance Sheets
SMARTSTOP SELF STORAGE REIT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except share and per share data) June 30, December 31, 2026 2025 (unaudited) ASSETS Real estate facilities: Land $ 539,029 $ 541,330 Buildings 1,798,700 1,782,894 Site improvements 105,987 103,139 2
Slide 5: Consolidated Statements of Operations
SMARTSTOP SELF STORAGE REIT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Amounts in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues: Self storage rental revenue $ 62,880 $ 58,156 $ 124,794 $ 1
Slide 6: Funds From Operations, as Adjusted
SMARTSTOP SELF STORAGE REIT, INC. AND SUBSIDIARIES NON-GAAP MEASURE – COMPUTATION OF FUNDS FROM OPERATIONS, AS ADJUSTED (Unaudited) (Amounts in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income (loss) $ 12,075 $ (4,799) $
Slide 7: Notes to Consolidated Financial Statements
transactions denominated in a currency other than the functional currency of the related entity, which includes both the 2028 Canadian Notes and the 2030 Canadian Notes. (6) Such costs incurred for the three and six months ended June 30, 2026 primarily included non-recurring transactional expenses o
Slide 8: Computation of Same-Store Operating Results
SMARTSTOP SELF STORAGE REIT, INC. AND SUBSIDIARIES COMPUTATION OF SAME-STORE OPERATING RESULTS (Unaudited) Same-Store Facility Results - Three Months Ended June 30, 2026 and 2025 The following table sets forth operating data for SmartStop’s same-store facilities (stabilized and comparable properties
Slide 9: NOI Definition and Discussion
NOI is a non-GAAP measure that SmartStop defines as net income (loss), computed in accordance with GAAP, generated from properties before corporate general and administrative expenses, asset management fees, interest expense, depreciation, amortization, acquisition expenses, tenant protection econom
Slide 10: Same-Store Facility Results: Six Months Ended
Same-Store Facility Results - Six Months Ended June 30, 2026 and 2025 The following table sets forth operating data for SmartStop's same-store facilities (stabilized and comparable properties that have been included in the consolidated results of operations since January 1, 2025, excluding seven oth
Slide 11: NOI Definition and Discussion
NOI is a non-GAAP measure that SmartStop defines as net income (loss), computed in accordance with GAAP, generated from properties before corporate general and administrative expenses, asset management fees, interest expense, depreciation, amortization, acquisition expenses, tenant protection econom
Slide 12: Same-Store Constant Currency Reconciliation
The following tables present a reconciliation of same-store as reported net operating income to same-store constant currency net operating income (dollars in thousands): Three Months Ended June 30, 2026 2025 % Change Total revenues As reported $ 55,139 $ 54,452 1.3% Impact of FX rate 3 — Constant cu
Slide 13: Outlook for Full Year 2026
SMARTSTOP SELF STORAGE REIT, INC. AND SUBSIDIARIES OUTLOOK FOR FULL YEAR 2026 (Unaudited) (Dollar amounts in thousands, except share and per share data) Notes for Updated Annual Assumptions as of May 6, 2026 as of August 5, 2026 as of August 5, 2026 Same-store growth (as translated in U.S. 2026 Same
Slide 14: Outlook Notes and Assumptions
(1) Stores in Canada are operated in Canadian Dollars (CAD), and their financial results are translated to U.S. Dollars (USD) in accordance with GAAP. These stores represent 13 of the Company’s 155 stores in the 2026 same-store pool. Constant currency results are calculated by translating current ye
Slide 15: Estimated Net Income to Same-Store NOI
Reconciliation of Estimated GAAP Net Income to Estimated Same-Store Net Operating Income The following table presents a reconciliation of the range of estimated GAAP net income (loss) per share to total same- store net operating income, as provided in SmartStop’s Outlook for Full Year 2026: Ranges f
Slide 16: Summary of Recent Acquisitions
SMARTSTOP SELF STORAGE REIT, INC. AND SUBSIDIARIES SUMMARY OF RECENT ACQUISITIONS (Unaudited) SmartStop % Net Rentable Purchase Date Property MSA/CMA (1) Ownership Sq. Ft. Units Price (2) Acquired Clifton New York - Newark 100% 116,000 1,285 $ 38,647 1/7/2025 Hillside New York - Newark 100% 112,000
Slide 17: Additional Information Regarding NOI and FFO
ADDITIONAL INFORMATION REGARDING NOI, FFO, and FFO, as adjusted NOI NOI is a non-GAAP measure that SmartStop defines as net income (loss), computed in accordance with GAAP, generated from properties, excluding tenant protection plan revenue, before corporate general and administrative expenses, asse
Slide 18: FFO and FFO, as Adjusted
Presentation of FFO and FFO, as adjusted, is intended to provide useful information to investors as they compare the operating performance of different REITs. However, not all REITs calculate FFO and FFO, as adjusted, the same way, so comparisons with other REITs may not be meaningful. Furthermore,
Slide 19: Forward-Looking Statements
· difficulties in SmartStop’s ability to attract and retain qualified personnel and management; · the effect of competition at SmartStop’s self-storage properties or from other storage alternatives, which could cause rents and occupancy rates to decline; · SmartStop’s ability to identify and complet
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