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SmartStop Self Storage REIT vs Saul Centers: SMA and BFS compared
SmartStop Self Storage REIT is the larger company: $81.8M of revenue in its latest quarter (Q3 2026) against $78.4M for Saul Centers (Q3 2026). SmartStop Self Storage REIT is growing faster (+16% against +9% a year earlier). Saul Centers is more profitable, with an operating margin of 67.6% against 24.4%.
Where the money goes: SMA and BFS
SmartStop Self Storage REIT (SMA) · Q3 2026
SmartStop Self Storage REIT, Q3 2026: revenue $81.8M (+16% year over year), operating margin 24.4%, net earnings $9.0M, operating cash flow $34.9M. The chart follows the revenue to costs, profit and cash.
Saul Centers (BFS) · Q3 2026
Saul Centers, Q3 2026: revenue $78.4M (+9% year over year), operating margin 67.6%, net earnings $9.5M, operating cash flow $14.0M. The chart follows the revenue to costs, profit and cash.
| SmartStop Self Storage REIT (SMA) | Saul Centers (BFS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $81.8M | $78.4M |
| Revenue growth, Y/Y | +16% | +9% |
| Gross margin | 60.5% | — |
| Operating margin | 24.4% | 67.6% |
| Net earnings | $9.0M | $9.5M |
| Net margin | 11.0% | 12.1% |
| Operating cash flow | $34.9M | $14.0M |
| Free cash flow | — | $8.6M |
| Market value | — | $733M |
| P/E | — | 21.0× |
| Analysts’ mean target | — | $43.00 |
Where the revenue comes from
SmartStop Self Storage REIT
- Self Storage Rental Revenue: $65.1M (80%)
- Reimbursable Costs From Managed Platform: $6.9M (8%)
- Managed Platform Revenue: $6.7M (8%)
- Ancillary Operating Revenue: $3.1M (4%)
Questions
Which is bigger, SmartStop Self Storage REIT or Saul Centers?
SmartStop Self Storage REIT is the larger company: $81.8M of revenue in its latest quarter (Q3 2026) against $78.4M for Saul Centers (Q3 2026).
Is SmartStop Self Storage REIT or Saul Centers growing faster?
SmartStop Self Storage REIT is growing faster (+16% against +9% a year earlier).
Which is more profitable, SmartStop Self Storage REIT or Saul Centers?
Saul Centers is more profitable, with an operating margin of 67.6% against 24.4%.
More: SmartStop Self Storage REIT earnings · how SmartStop Self Storage REIT makes money · Saul Centers earnings · how Saul Centers makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.