SmartStop Self Storage REIT, Inc (SMA) Fair Value & Analysis

Real Estate · US · Market cap $1.8B

Below-average quality, and screening another 40% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($31.99). The favourable scenario is already priced in.
• Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
• The model range is unusually wide ($11.69 to $31.99). The outcome hinges heavily on assumptions, so read the point estimate with caution.
• As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (16 months)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.

How to read this chart

16‑month range $29.16 – $37.27 · fair‑value band $11.69 – $31.99 · the $34.31 price screens above the $20.68 fair value. Dashed = 300-day average. As of Jul 27, 2026.

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Analysis

SmartStop Self Storage REIT, Inc (SMA) currently trades at $34.31, while our model-based Fair Value estimate is $20.68, implying the stock looks roughly 39.7% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, SmartStop Self Storage REIT, Inc generated revenue of $276M at a net margin of 4.7%. Revenue grew 13.1% year over year. It earns a return on equity of 1.5%. Net debt stands at $1.0B. Fundamentals as of Jul 27, 2026

Our scenario range runs from $11.69 (bear case) to $31.99 (bull case); at $34.31, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -45% fair-value upside, at -40%, SMA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Dividend Discount ($18.89) versus Growth DCF ($2.64). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

SmartStop Self Storage REIT, Inc. is a self-managed REIT with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop Self Storage brand.

Full company description

SmartStop Self Storage REIT, Inc. is a self-managed REIT with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop Self Storage brand. SmartStop, through its indirect subsidiary, SmartStop REIT Advisors, LLC, also sponsors other self-storage programs and, through its Managed Platform, offers third-party management services in the U.S. and Canada. As of February 20, 2026, SmartStop has an owned or managed portfolio of over 460 operating properties in 35 states, the District of Columbia, and Canada, comprising over 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 49 operating self-storage properties across four provinces in Canada, which total approximately 42,200 units and 4.3 million rentable square feet. SmartStop Self Storage REIT, Inc. was established on January 08, 2013 and is based in Ladera Ranch, United States.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SmartStop Self Storage REIT, Inc reported revenue of $281M in FY2025 versus $169M in FY2021, a compound +13.6%/yr. Reported net income was −$1.5M in FY2025.

SMA screens 40% overvalued. Compare with Prologis, Inc →

Peer Group

REIT - Industrial · 63 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs REIT - Industrial median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.