Smartstop Self Storage Q1 2026: Crushing Comps, Growth, & Acquisitions

Smartstop Self Storage delivered impressive Q1 2026 earnings, surpassing expectations despite challenging comparisons. Same-store revenue grew by 1.5%, net operating income increased by 2%, and occupancy remained strong at 92.5%. Funds from operations as adjusted jumped by 19.3% to 49 cents per share. Operationally, they improved margins by 30 basis points through effective expense control. Canadian revenue surged by 4.1%, and Ashevilles occupancy gap narrowed significantly. While vacates initially spiked due to easier prior comps and geopolitical jitters, they are now easing. The company is expanding its portfolio with a new Class A build in Toronto and has signed new Canadian deals. They are also launching a bridge lending JV with a strong pipeline of over $100 million at 10-14% yields. Looking ahead, rental season is ramping up with easier comps, and they are well-positioned for external growth without compromising operations. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/61267be8065b35b4