SCHEDULE: T. Rowe Price Boosts SmartStop REIT Stake to 9.2%

T. Rowe Price Associates, Inc. reported an increased beneficial ownership of 9.2% in SmartStop Self Storage REIT as of November 30, 2025.

Summary

• T. Rowe Price Associates, Inc. filed an Amendment No. 3 to Schedule 13G, disclosing its beneficial ownership in SmartStop Self Storage REIT.
• As of November 30, 2025, T. Rowe Price Associates, Inc. beneficially owned 5,071,940 shares of SmartStop Self Storage REIT.
• This ownership represents 9.2% of the class of securities.
• T. Rowe Price Associates, Inc. holds sole voting power over 5,063,178 shares and sole dispositive power over 5,071,940 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of a significant institutional ownership stake. While not directly positive or negative about the company's performance, a large, stable institutional holding can be viewed favorably by the market as a sign of confidence.

Positives

• A significant institutional investor, T. Rowe Price Associates, Inc., maintains a substantial 9.2% beneficial ownership in SmartStop Self Storage REIT, indicating continued investment interest.

Future Outlook

NA

Management Comments

• T. Rowe Price Associates, Inc. declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.
• The securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

This filing is a routine disclosure of an institutional investor's stake, common across all industries, and does not provide specific industry-related analysis or trends.

Stakeholder Impact

• Shareholders: Provides transparency regarding a major institutional investor's significant stake, which could influence market perception and liquidity.

Key Dates

Keywords

SmartStop Self Storage REIT, T. Rowe Price Associates, Schedule 13G, beneficial ownership, REIT, institutional investor, equity stake