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STSFF SmartStop Self Storage REIT

Strategic Storage Trust II Inc., a Maryland corporation (the “Company”), was formed on January 8, 2013 under the Maryland General Corporation Law for the purpose of engaging in the business of investing in self storage facilities. The Company’s year-end is December 31. As used in this report, “we,” “us,” “our,” and “Company” refer to Strategic Storage Trust II Inc. and each of our subsidiaries. SmartStop Asset Management, LLC, a Delaware limited liability company (our “Sponsor”) organized in 2013, was the sponsor of our Offering of shares of common stock, as described below. Our Sponsor is a company focused on providing real estate advisory, asset management, and property management services. Our Sponsor owns 97.5% of the economic interests (and 100% of the voting membership interests) of Strategic Storage Advisor II, LLC (our “Advisor”) and owns 100% of Strategic Storage Property Management II, LLC (the “T2 Property Manager”). In addition, as a result of the SSGT Merger (defined below), certain of our properties are managed by SS Growth Property Management, LLC, which is also 100% owned by our Sponsor (the “GT Property Manager” and together with the T2 Property Manager, our “Property Manager”). See the section titled “Certain Relationships and Related Transaction and Director Independence—Certain Relationships and Related Transaction—Property Management Agreements,” below, for more information.

Calendar

13 Aug 21
16 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 33.86M 33.86M 33.86M 33.86M 33.86M 33.86M
Cash burn (monthly) 1.77M 2.02M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 6.29M 7.15M n/a n/a n/a n/a
Cash remaining 27.57M 26.71M n/a n/a n/a n/a
Runway (months of cash) 15.5 13.2 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
28 Jun 21 Schwartz H. Michael Class A-1 Units Class A Common Stock Other Acquire J Yes No 0 9,586,229.71 0 9,586,229.71
16 Jun 21 Perry Harold Class A Common Stock Grant Acquire A No No 0 6,000 0 27,513.49
16 Jun 21 Morris Timothy S. Class A Common Stock Grant Acquire A No No 0 6,000 0 27,513.49
16 Jun 21 Mueller David J Class A Common Stock Grant Acquire A No No 0 6,000 0 28,763.49
16 Jun 21 Mathews Paula M. Class A Common Stock Grant Acquire A Yes No 0 6,000 0 27,523.08

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change

Financial report summary

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Management Discussion
  • We derive revenues principally from: (i) rents received from our self storage tenant leases; (ii) fees generated from our Managed REITs; (iii) our Tenant Programs; and (iv) sales of packing- and storage-related supplies at our storage facilities. Therefore, our operating results depend significantly on our ability to retain our existing tenants and lease our available self storage units to new tenants, while maintaining and, where possible, increasing the prices for our self storage units. Additionally, our operating results depend on our tenants making their required rental payments to us, management fees earned from our Managed REITs, and the success of our Tenant Programs.
  • Competition in the market areas in which we operate is significant and affects the occupancy levels, rental rates, rental revenues and operating expenses of our facilities. Development of any new self storage facilities would intensify competition of self storage operators in markets in which we operate.
  • As of June 30, 2021 and 2020, we wholly-owned 138 and 112 operating self storage facilities, respectively. Our operating results for the three months ended June 30, 2021 include full quarter results for 136 self storage facilities and partial quarter results for two operating self storage facilities acquired during the quarter ended June 30, 2021. Our operating results for the three months ended June 30, 2020 include full quarter results for 112 self storage facilities. Operating results in future periods will depend on the results of operations of these properties and of the real estate properties that we acquire in the future.
Content analysis
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