Business Context and Reporting Period
SmartStop Self Storage REIT, Inc. (SMA) filed a Form 8-K on May 12, 2026, under Item 7.01 Regulation FD Disclosure. The report provides operational metrics for the Company's same-store facilities, defined as stabilized and comparable properties included in consolidated results since January 1, 2025, excluding four specific properties.
Key Financial and Operational Metrics
The filing details physical occupancy and rate metrics for March 31 and April 30, 2026, compared to the prior year periods. No revenue, profit, cash flow, debt, or liquidity figures are provided in this specific report.
| Metric | March 31, 2026 | March 31, 2025 | April 30, 2026 | April 30, 2025 |
|---|---|---|---|---|
| Physical Occupancy | 92.3% | 93.0% | 92.6% | 93.0% |
| Monthly Web Rates | $1.04 | $1.07 | $1.03 | $1.13 |
| Monthly Move-in Rates | $0.91 | $0.95 | $0.92 | $0.99 |
| Monthly In-Place Rates | $1.65 | $1.62 | $1.65 | $1.62 |
Material Changes Versus Prior Period
- Occupancy: Physical occupancy declined slightly year-over-year, dropping from 93.0% to 92.3% in March and from 93.0% to 92.6% in April.
- Web Rates: Monthly web rates decreased in both periods, falling from $1.07 to $1.04 in March and from $1.13 to $1.03 in April.
- Move-in Rates: New move-in rates declined, moving from $0.95 to $0.91 in March and from $0.99 to $0.92 in April.
- In-Place Rates: Monthly in-place rates remained stable at $1.65 for both March and April 2026, compared to $1.62 in the prior year.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future outlook, or specific risk factors beyond the standard Regulation FD disclosure statement. The information provided is deemed "furnished" rather than "filed" and is not subject to Section 18 liabilities of the Exchange Act.
Investor Verification Checklist
- Verify the definition of "same-store facilities" to ensure the exclusion of four properties does not skew the occupancy and rate trends.
- Confirm the impact of the decline in web and move-in rates on future revenue projections, given the stable in-place rates.
- Review the full Q1 2026 earnings release for comprehensive financial data (revenue, FFO, debt) not included in this 8-K.
- Assess whether the occupancy decline is a seasonal trend or indicative of broader market softness in the self-storage sector.