SmartStop Self Storage REIT's (SMA) CEO Buys 6,250 Shares for $198,200
Key Points
H. Michael Schwartz significantly increased his SmartStop Self Storage REIT holdings recently.
Schwartz is the Chief Executive Officer and Chairman of the Board.
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H. Michael, Schwartz, Chief Executive Officer of SmartStop Self Storage REIT (NYSE:SMA), executed an open-market purchase of 6,250 shares for a total of $198,187.50, as disclosed in the SEC Form 4 filing.
Transaction summary
| Metric | Value | Context |
|---|---|---|
| Shares traded | 6,250 | Open-market purchase on November 17, 2025 |
| Transaction value | $198,187.50 | At $31.71 per share (SEC Form 4 reported price) |
| Post-transaction shares | 174,370 | Indirect common stock holdings after transaction |
| Post-transaction value (direct ownership) | $5.44 million | Based on Nov. 17, 2025 market close ($31.20) |
Transaction value based on SEC Form 4 reported price ($31.71); post-transaction value based on Nov. 17, 2025, market close ($31.20).
Key questions
- What does this transaction indicate about Schwartz H. Michael’s direct ownership in SmartStop Self Storage REIT?
Following this acquisition, direct ownership in common stock stands at zero shares. All remaining reported interests are held indirectly through entities such as Churchill TRI LLC and various family trusts. - How does the scale of this trade compare to Schwartz H. Michael's historical activity?
This transaction involved 6,250 shares, which is below the median of 12,125 shares for all historical events reported for this insider. - What is the market context for this transaction?
The shares were purchased at $31.71 per share on November 17, 2025. The closing price on the same day was $31.82, and as of November 22, 2025, the stock is priced at $31.20. - How does indirect ownership structure affect the assessment of insider alignment?
Although direct holdings are at zero, Schwartz H. Michael maintains substantial indirect exposure through Churchill TRI LLC, The H. Michael Schwartz 2011 Irrevocable Trust, and The Holly Breaux Schwartz 2011 Irrevocable Trust, as detailed in the Form 4 footnotes and ownership context.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $1.76 billion |
| Revenue (TTM) | $263.34 million |
| Net income (TTM) | ($5.43 million) |
Company snapshot
- Operates self-storage facilities across North America, offering storage units and related services to individuals and businesses.
- Leverages a technology-driven, fully integrated operations platform staffed by self-storage professionals.
- Serves a broad customer base with self-storage solutions across North America.
SmartStop Self Storage REIT is one of the largest self-storage operators in North America, with a growing portfolio in both the United States and Canada. The company employs a technology-focused approach to streamline operations and enhance customer experience. Its scale and integrated management platform position it competitively in high-growth markets within the specialty REIT sector.
Foolish take
There are millions of reasons for an insider to sell shares of the company they work for, but just one reason to buy. Schwartz probably expects shares of SmartStop Self Storage REIT to rise in the foreseeable future.
It appears that Schwartz is excited about the recent addition of a third-party management platform. In the third quarter, the real estate investment trust (REIT) launched a third-party management business by acquiring Argus Professional Storage Management. Argus is the second-largest exclusively third-party management company in the self-storage industry. When SmartStop closed the transaction on Oct. 1, 2025, Argus was managing 227 stores across 26 states.
Schwartz's enthusiasm for SmartStop stock hasn't been due to recent growth in the self-storage business. Third-quarter revenue rose just 2.5% year over year.
Topline revenue growth hasn't been anything to write home about, but at least the company's bottom line is rising rapidly. Funds from operations, a proxy for earnings used to evaluate REITs, rose by $15.8 million year over year to $27.5 million in the third quarter.
Glossary
Open-market purchase: Buying securities directly on a public exchange, rather than through private transactions or company-issued grants.
Direct ownership: Shares held personally in an individual's own name, not through another entity or trust.
Indirect ownership: Shares owned through entities such as trusts or companies, not held personally by the individual.
Insider: A company executive, director, or large shareholder with access to non-public company information.
Insider alignment: The extent to which an insider's financial interests match those of regular shareholders.
Form 4: A required SEC filing that discloses insider transactions in a company's securities.
Irrevocable trust: A legal arrangement where assets are managed by a trustee and cannot be changed or revoked by the grantor.
Dividend yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.
REIT: Real Estate Investment Trust, a company owning or financing income-producing real estate.
TTM: The 12-month period ending with the most recent quarterly report.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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