SMA
Smartstop Self Storage REIT Inc
SMA's fundamentals are mixed: revenue grew 21%, while its operating margin held steady at 23%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
SMA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
SMA's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like SMA.
SMA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 48x | $36.06 | -8.3% |
| Forward | 50x | $39.33 | — |
| Current | 52x | $39.33 | — |
| Fair | 53x | $39.68 | +0.9% |
| Expensive | 104x | $77.75 | +98% |
Historical ranges are pointers, not guarantees.
SMA's PE is 52x, but its earnings don't support one, so it isn't a reliable read right now.
SMA Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect SMA's earnings to grow, with its revenue and profitability holding steady.
SMA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.79 | +4.9% |
| Q3 2026 | $0.75 | +$1.21 |
| Q4 2025 | -$0.20 | $0.00 |
| Q3 2025 | -$0.46 | -$0.29 |
| Q4 2024 | -$0.20 | -$0.16 |
SMA has returned to profit: it earned $0.75 per share over the past year, after losing money the year before.
SMA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $81.8M | +16% |
| Q2 2026 | $79.3M | +19% |
| Q1 2026 | $78.3M | +20% |
| Q4 2025 | $78.4M | +29% |
| Q3 2025 | $70.4M | +17% |
| Q2 2025 | $66.8M | +13% |
| Q1 2025 | $65.4M | +15% |
| Q4 2024 | $60.6M | +5.4% |
SMA's revenue has grown year over year for 10 quarters in a row: $82M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +6.3 points |
| Q2 2026 | 23% | +7.2 points |
| Q1 2026 | 21% | -5.6 points |
| Q4 2025 | 24% | -5.4 points |
| Q3 2025 | 18% | -11 points |
| Q2 2025 | 15% | -14 points |
| Q1 2025 | 26% | -3.5 points |
| Q4 2024 | 29% | +1.4 points |
SMA's operating margin was 24% last quarter, up 6.3 points from the same quarter a year ago.
SMA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $34.9M | -33% |
| Q2 2026 | $19.7M | +146% |
| Q1 2026 | $24.2M | +130% |
| Q4 2025 | $14.4M | +35% |
| Q3 2025 | $52.1M | +139% |
| Q2 2025 | $8M | -54% |
| Q1 2025 | $10.6M | -27% |
| Q4 2024 | $10.6M | +137% |
SMA's free cash flow was $93M over the past year, up 15% from the year before. Free cash flow isn't a meaningful measure for real estate companies like SMA.
SMA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -1.1K shares |
| 1 year | 0% | +22.2K shares |
| 3 years | -43% | -41.4M shares |
| 5 years | +2417% | +53.2M shares |
SMA has 55M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | $12.6M |
| Q4 2024 | $12.6M |
| Q4 2023 | $7M |
| Q3 2023 | $7M |
| Q2 2023 | $4.8M |
SMA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.3x | High |
| Q2 2026 | 7.5x | High |
| Q1 2026 | 7.9x | High |
| Q4 2025 | -0.4x | Net Cash |
| Q3 2025 | -0.4x | Net Cash |
| Q4 2024 | 10.2x | High |
| Q3 2024 | -0.3x | Net Cash |
| Q2 2024 | -0.3x | Net Cash |
SMA's net debt is about 7.3 years of its operating earnings (EBITDA), after holding more cash than debt a year ago. Net leverage isn't a meaningful measure for real estate companies like SMA.
SMA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.9 | Overbought |
| Stochastic | 92.8 | Overbought |
SMA's weekly RSI is 72 (overbought) and its Stochastic is 93 (overbought).
SMA PE vs Real Estate Sector
| Metric | SMA | Sector median | Relative |
|---|---|---|---|
| PE | 52x | 24x | 119% above |
| PE % | 48 | 13 | 35 pts above |
SMA is trading at 52x earnings, a 119% premium to the Real Estate sector's median of 24x, though its earnings don't support one.
SMA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $35.2 | 12% above |
| 20 week MA | $34.2 | 15% above |
| 50 week MA | $32.9 | 20% above |
SMA is in an uptrend: it's above all three of its weekly moving averages, and 20% above its 50-week average.
SMA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $32.9 | $31.5 | -4.2% |
| 2026 YTD | $31.5 | $39.3 | +25% |
SMA has finished every year since 2025 lower, and it's up 25% so far in 2026.