SMASmartStop Self Storage REIT, Inc.
Real Estate Investment Trusts
- Revenue
- $281M
- 19% YoY
- Operating margin
- 21.0%
- 28% YoY
- EBITDA
- $132M
- 5.6% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 8.2×
- $1.1B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear6% of revenueOver 10% of revenue
- Payouts exceed cash flowClear88% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear3% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $169M | $213M | $233M | $237M | $281M | 19% |
| Operating income | $17M | $66M | $71M | $69M | $59M | 15% |
| Net income | −$20M | $22M | $12M | −$6M | −$2M | 70% |
| Operating cash flow | $59M | $88M | $73M | $64M | $85M | 33% |
| Stock-based comp | $3M | $4M | $5M | $5M | $17M | 216% |
| Dividends | $26M | $49M | $41M | $37M | $75M | 100% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $28K · 2
- Net
- −$28K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 93 | 127 |
| FY2024 | — | — | 166 | 124 |
| FY2023 | — | — | 168 | 118 |
| FY2022 | — | — | 161 | 106 |
| FY2021 | — | — | 153 | 141 |