SmartStop Self Storage REIT Inc., a publicly registered non-traded real estate investment trust, has changed its distribution authorization from quarterly to monthly for the second quarter of 2022 and the foreseeable future, according to a filing with the Securities and Exchange Commission.
The company said that the change in distribution policy was made “in connection with its previously disclosed process for reviewing alternatives in order to provide liquidity to its stockholders.”
The board has authorized a daily distribution rate of approximately $0.00164 per day per share on the outstanding shares of common stock paid to Class A and Class T stockholders for April 2022. The distributions will be paid in May 2022.
In other company news, SmartStop Self Storage REIT recently reported its overall results for the fourth quarter and full-year 2021.
SmartStop is a self-managed REIT with an owned and managed portfolio of 163 properties in 19 states and Ontario, Canada, comprising approximately 111,000 units and 12.6 million rentable square feet.