SmartStop Self Storage REIT Inc
For the period ended Dec 31, 2023. Filed Mar 18, 2024.
View on SEC.govAbout this filing
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FY2023 · Filed Mar 18, 2024
SMA$38.63-2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Equity and Temporary Equity
| Common Stock | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A · Class T | |||||||||||||
| Numberof Shares | CommonStockPar Value | Numberof Shares | CommonStockPar Value | AdditionalPaid-inCapital | Distributions | AccumulatedDeficit | AccumulatedOtherComprehensiveIncome (Loss) | TotalSmartStopSelf StorageREIT, Inc. Equity | NoncontrollingInterests | TotalEquity | PreferredStock | RedeemableCommonStock | |
| Balance as of December 31, 2020 | 52,660,402 | $52,661 | 7,903,911 | $7,904 | $492,408,006 | $(163,953,169) | $(141,444,880) | $(3,834,228) | $183,236,294 | $60,003,911 | $243,240,205 | $196,356,107 | $57,335,575 |
| Gross proceeds from issuance of operating partnership units in SST VI OP | — | — | — | — | — | — | — | — | — | 4,761,315 | 4,761,315 | — | — |
| Offering Costs of SST VI OP | — | — | — | — | — | — | — | — | — | (1,239,194) | (1,239,194) | — | — |
| Issuance of common stock in connection with SST IV Merger | 23,137,540 | 23,138 | — | — | 231,389,332 | — | — | — | 231,412,470 | — | 231,412,470 | — | — |
| Issuance of Class A-1 Units in our Operating Partnership in connection with the contingent earnout related to the Self Administration Transaction | — | — | — | — | — | — | — | — | — | 11,219,744 | 11,219,744 | — | — |
| Acquisition of noncontrolling interest related to the Tenant Protection Programs joint ventures | — | — | — | — | — | — | — | — | — | (10,900) | (10,900) | — | — |
| Offering costs | — | — | — | — | (335,175) | — | — | — | (335,175) | — | (335,175) | — | — |
| Changes to redeemable common stock | — | — | — | — | (19,564,929) | — | — | — | (19,564,929) | — | (19,564,929) | — | 19,564,929 |
| Redemptions of common stock | (359,976) | (360) | (30,158) | (30) | — | — | — | — | (390) | — | (390) | — | (5,565,829) |
| Issuance of restricted stock | 78,192 | 78 | — | — | — | — | — | — | 78 | — | 78 | — | — |
| Distributions ($0.60 per share) | — | — | — | — | — | (47,011,295) | — | — | (47,011,295) | — | (47,011,295) | — | — |
| Distributions to noncontrolling interests | — | — | — | — | — | — | — | — | — | (6,338,488) | (6,338,488) | — | — |
| Issuance of shares for distribution reinvestment plan | 1,541,585 | 1,541 | 182,445 | 182 | 19,563,206 | — | — | — | 19,564,929 | — | 19,564,929 | — | — |
| Equity based compensation expense | — | — | — | — | 1,279,432 | — | — | — | 1,279,432 | 1,628,376 | 2,907,808 | — | — |
| Net loss attributable to SmartStop Self Storage REIT, Inc. common stockholders | — | — | — | — | — | — | (29,401,595) | — | (29,401,595) | — | (29,401,595) | — | — |
| Deconsolidation of SST VI OP | — | — | — | — | — | — | — | — | — | (3,170,238) | (3,170,238) | — | — |
| Net loss attributable to the noncontrolling interests in our Operating Partnership | — | — | — | — | — | — | — | — | — | (2,663,123) | (2,663,123) | — | — |
| Foreign currency translation adjustment | — | — | — | — | — | — | — | 47,424 | 47,424 | 17,837 | 65,261 | — | — |
| Foreign currency hedge contract loss | — | — | — | — | — | — | — | (337,219) | (337,219) | (57,198) | (394,417) | — | — |
| Interest rate swap and cap contract gain | — | — | — | — | — | — | — | 3,844,048 | 3,844,048 | 491,275 | 4,335,323 | — | — |
| Balance as of December 31, 2021 | 77,057,743 | $77,058 | 8,056,198 | $8,056 | $724,739,872 | $(210,964,464) | $(170,846,475) | $(279,975) | $342,734,072 | $64,643,317 | $407,377,389 | $196,356,107 | $71,334,675 |
| Common Stock | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A · Class T | |||||||||||||
| Numberof Shares | CommonStockPar Value | Numberof Shares | CommonStockPar Value | AdditionalPaid-inCapital | Distributions | AccumulatedDeficit | AccumulatedOtherComprehensiveIncome (Loss) | TotalSmartStopSelf StorageREIT, Inc. Equity | NoncontrollingInterests | TotalEquity | PreferredStock | RedeemableCommonStock | |
| Balance as of December 31, 2021 | 77,057,743 | $77,058 | 8,056,198 | $8,056 | $724,739,872 | $(210,964,464) | $(170,846,475) | $(279,975) | $342,734,072 | $64,643,317 | $407,377,389 | $196,356,107 | $71,334,675 |
| Offering costs | — | — | — | — | (445,149) | — | — | — | (445,149) | — | (445,149) | — | — |
| Tax withholding (net settlement) related to vesting of restricted stock | (8,910) | (9) | — | — | (86,348) | — | — | — | (86,357) | — | (86,357) | — | — |
| Issuance of Class A-1 Units in our Operating Partnership in connection with the contingent earnout related to the Self Administration Transaction | — | — | — | — | — | — | — | — | — | 31,514,447 | 31,514,447 | — | — |
| Issuance of noncontrolling interest in SST VI Advisor | — | — | — | — | — | — | — | — | — | 1,000 | 1,000 | — | — |
| Changes to redeemable common stock | — | — | — | — | (5,243,398) | — | — | — | (5,243,398) | — | (5,243,398) | — | 5,243,398 |
| Redemptions of common stock | (106,502) | (107) | (4,696) | (5) | — | — | — | — | (112) | — | (112) | — | — |
| Issuance of common stock in connection with the SSGT II Merger | 11,542,062 | 11,542 | — | — | 168,778,332 | — | — | — | 168,789,874 | — | 168,789,874 | — | — |
| Issuance of OP Units in connection with SSGT II Merger | — | — | — | — | — | — | — | — | — | 1,703 | 1,703 | — | — |
| Issuance of restricted stock, net of forfeitures | 55,403 | 55 | — | — | — | — | — | — | 55 | — | 55 | — | — |
| Distributions ($0.60 per share) | — | — | — | — | — | (55,187,053) | — | — | (55,187,053) | — | (55,187,053) | — | — |
| Distributions to noncontrolling interests in our Operating Partnership | — | — | — | — | — | — | — | — | — | (7,444,680) | (7,444,680) | — | — |
| Distributions to other noncontrolling interests | — | — | — | — | — | — | — | — | — | (268,695) | (268,695) | — | — |
| Issuance of shares for distribution reinvestment plan | 313,658 | 314 | 34,048 | 34 | 5,243,050 | — | — | — | 5,243,398 | — | 5,243,398 | — | — |
| Equity based compensation expense | — | — | — | — | 1,297,595 | — | — | — | 1,297,595 | 2,670,899 | 3,968,494 | — | — |
| Net income attributable to SmartStop Self Storage REIT, Inc. common stockholders | — | — | — | — | — | — | 6,321,880 | — | 6,321,880 | — | 6,321,880 | — | — |
| Net income attributable to the noncontrolling interests in our Operating Partnership | — | — | — | — | — | — | — | — | — | 2,536,296 | 2,536,296 | — | — |
| Net income attributable to other noncontrolling interests | — | — | — | — | — | — | — | — | — | 311,276 | 311,276 | — | — |
| Foreign currency translation adjustment | — | — | — | — | — | — | — | (3,400,645) | (3,400,645) | (431,699) | (3,832,344) | — | — |
| Foreign currency forward contract gain | — | — | — | — | — | — | — | 2,977,385 | 2,977,385 | 377,514 | 3,354,899 | — | — |
| Interest rate swap and cap contract gain | — | — | — | — | — | — | — | 4,357,917 | 4,357,917 | 548,867 | 4,906,784 | — | — |
| Balance as of December 31, 2022 | 88,853,454 | $88,853 | 8,085,550 | $8,085 | $894,283,954 | $(266,151,517) | $(164,524,595) | $3,654,682 | $467,359,462 | $94,460,245 | $561,819,707 | $196,356,107 | $76,578,073 |
| Common Stock | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A · Class T | ||||||||||||||||||||||||
| Numberof Shares · CommonStockPar Value · Numberof Shares · CommonStockPar Value · AdditionalPaid-inCapital · Distributions · AccumulatedDeficit · AccumulatedOtherComprehensiveIncome (Loss) · TotalSmartStop SelfStorage REIT, Inc. Equity · NoncontrollingInterests · TotalEquity · PreferredStock · RedeemableCommonStock | ||||||||||||||||||||||||
| Balance as of December 31, 2022 | 88,853,454 | $88,853 | 8,085,550 | $8,085 | $894,283,954 | $(266,151,517) | $(164,524,595) | $3,654,682 | $467,359,462 | $94,460,245 | $561,819,707 | $196,356,107 | $76,578,073 | |||||||||||
| Offering costs | — | — | — | — | (10,412) | — | — | — | (10,412) | — | (10,412) | — | — | |||||||||||
| Tax withholding (net settlement) related to vesting of restricted stock | (17,422) | (17) | — | — | (246,645) | — | — | — | (246,662) | — | (246,662) | — | — | |||||||||||
| Changes to redeemable common stock | — | — | — | — | (17,636,337) | — | — | — | (17,636,337) | — | (17,636,337) | — | 17,636,337 | |||||||||||
| Redemptions of common stock | (1,160,283) | (1,160) | (88,382) | (88) | — | — | — | (1,248) | — | (1,248) | — | (22,937,215) | ||||||||||||
| Issuance of restricted stock, net of forfeitures | 42,566 | 43 | — | — | — | — | — | — | 43 | — | 43 | — | — | |||||||||||
| Distributions ($0.60 per share) | — | — | — | — | (58,039,039) | — | — | (58,039,039) | — | (58,039,039) | — | — | ||||||||||||
| Distributions to noncontrolling interests in our Operating Partnership | — | — | — | — | — | — | — | — | — | (8,298,194) | (8,298,194) | — | — | |||||||||||
| Distributions to other noncontrolling interests | — | — | — | — | — | — | — | — | — | (587,530) | (587,530) | — | — | |||||||||||
| Issuance of shares for distribution reinvestment plan | 1,042,820 | 1,043 | 116,659 | 117 | 17,635,177 | — | — | — | 17,636,337 | — | 17,636,337 | — | — | |||||||||||
| Equity based compensation expense | — | — | — | — | 830,817 | — | — | — | 830,817 | 4,427,429 | 5,258,246 | — | — | |||||||||||
| Net income attributable to SmartStop Self Storage REIT, Inc. common stockholders | — | — | — | — | — | — | (2,745,698) | — | (2,745,698) | — | (2,745,698) | — | — | |||||||||||
| Net income attributable to the noncontrolling interests in our Operating Partnership | — | — | — | — | — | — | — | — | — | 1,313,566 | 1,313,566 | — | — | |||||||||||
| Net income attributable to other noncontrolling interests | — | — | — | — | — | — | — | — | — | 578,892 | 578,892 | — | — | |||||||||||
| Foreign currency translation adjustment | — | — | — | — | — | — | — | 1,307,400 | 1,307,400 | 173,320 | 1,480,720 | — | — | |||||||||||
| Foreign currency hedge contract loss | — | — | — | — | — | — | — | (941,025) | (941,025) | (124,885) | (1,065,910) | — | — | |||||||||||
| Interest rate hedge contract loss | — | — | — | — | — | — | — | (3,173,874) | (3,173,874) | (419,695) | (3,593,569) | — | — | |||||||||||
| Balance as of December 31, 2023 | 88,761,135 | $88,762 | 8,113,827 | $8,114 | $894,856,554 | $(324,190,556) | $(167,270,293) | $847,183 | $404,339,764 | $91,523,148 | $495,862,912 | $196,356,107 | $71,277,195 | |||||||||||
SMARTSTOP SELF STORAGE REIT, Inc. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.