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SmartStop Self Storage REIT, Inc. (NYSE:SMA), a self-storage company with a market capitalization of $1.42 billion and trading near its 52-week high of $37.74, held its 2025 Annual Meeting of Stockholders on Tuesday. According to a press release statement included in a recent SEC filing, shareholders voted on two main proposals.
For the election of directors, five individuals were elected to serve on the company’s board until the next annual meeting and until their successors are duly elected and qualified. The directors and the votes they received were as follows:
- H. Michael Schwartz: 34,101,664 votes for, 1,844,148 votes withheld
- Paula Mathews: 34,744,275 votes for, 1,201,537 votes withheld
- Timothy S. Morris: 33,927,547 votes for, 2,018,265 votes withheld
- David J. Mueller: 33,937,836 votes for, 2,007,976 votes withheld
- Harold “Skip” Perry: 32,640,629 votes for, 3,305,183 votes withheld
In addition to the director elections, shareholders ratified the appointment of BDO USA, P.C. as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote tally was 36,328,619 in favor, 336,025 against, and 607,968 abstentions.
SmartStop Self Storage REIT, Inc. is incorporated in Maryland and is listed on the New York Stock Exchange under the ticker SMA.
All information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, SmartStop Self Storage reported its Q1 2025 earnings, revealing a 3.2% growth in same-store revenue and a 2.3% increase in net operating income. Despite a negative earnings per share of -$0.35, the company’s revenue reached $65.45 million, indicating stable financial health. Raymond (NSE:RYMD) James upgraded SmartStop’s stock rating to Strong Buy, raising the price target to $44.00, citing the company’s high-quality portfolio and growth potential. Stifel reiterated its Buy rating with a $40.00 price target, noting SmartStop’s strong execution and superior growth prospects compared to peers. KeyBanc also increased its price target to $40.00, following a favorable debt deal that exceeded expectations. SmartStop’s recent inclusion in the Russell 3000 Index marks a significant milestone, reflecting its growing market capitalization. The company has been actively expanding, with $186 million in acquisitions since its IPO. These developments highlight SmartStop’s strategic focus on growth and expansion in the self-storage sector.
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