STOCK TITAN

CubeSmart - CUBE STOCK NEWS

Welcome to our dedicated page for CubeSmart news (Ticker: CUBE), a resource for investors and traders seeking the latest updates and insights on CubeSmart stock.

CubeSmart (NYSE: CUBE) is a premier self-administered and self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership, and management of self-storage facilities across the United States. With over 600 locations nationwide, CubeSmart is a leader in providing innovative, easily accessible, and affordable storage solutions for both residential and commercial customers. The company's portfolio prominently spans key markets such as Florida, Texas, California, New York, and Illinois, which collectively account for the majority of its square footage and revenue.

At the core of CubeSmart's success is its commitment to exceptional customer service. The company's well-trained managers and unique WOW! Department aim to deliver a storage experience that exceeds customer expectations. This focus on service is complemented by CubeSmart's strategic approach to property acquisitions and developments, catering to high-demand urban markets.

In the third quarter of 2023, CubeSmart reported net income attributable to common shareholders of $102.6 million, reflecting the quality of its portfolio and the stability of its urban markets. Despite a year-over-year decrease, primarily due to a significant gain from property sales in 2022, the company's funds from operations (FFO), as adjusted, showed a positive trend with a 3.0% increase per diluted share.

CubeSmart is also active in expanding its footprint through strategic acquisitions and new developments. The company is currently under contract to acquire a store in New Jersey and is involved in constructing new self-storage properties in high-barrier-to-entry locations like New Jersey and New York. As of September 30, 2023, CubeSmart had three joint venture development properties under construction, representing a total expected investment of $75.2 million.

The company's third-party management platform is another significant growth avenue. As of September 30, 2023, CubeSmart managed 763 stores, encompassing 49.9 million rentable square feet. This program not only expands CubeSmart's reach but also leverages its operational expertise without heavy capital expenditure.

Financially, CubeSmart demonstrates a robust balance sheet and disciplined capital allocation. The company declared a quarterly dividend of $0.49 per common share in July 2023, underlining its commitment to returning value to shareholders. CubeSmart's outlook for the year remains optimistic, with an estimated FFO per share, as adjusted, projected between $2.65 and $2.67.

CubeSmart's mission is to simplify the storage needs arising from life's events and business demands through innovative solutions and genuine care. With a strong presence in the self-storage industry and a focus on maximizing revenue and controlling costs, CubeSmart continues to position itself as a top performer in the market.

For more information on CubeSmart and its services, visit www.cubesmart.com or connect with them on social media platforms like Facebook, Twitter, and YouTube.

Rhea-AI Summary

Newmark has arranged a significant recapitalization and new joint venture between Hines and CubeSmart for a 14-property self-storage portfolio in the Dallas-Fort Worth Metroplex. The transaction, one of the largest self-storage portfolio deals of 2024, was led by Newmark's Vice Chairman Aaron Swerdlin and Executive Managing Director Andrew Warin.

The portfolio features over 9,700 units across more than 1.25 million net rentable square feet, operating under the CubeSmart Self Storage brand. The properties are strategically located in key submarkets including Arlington and Plano, targeting areas with rapid population growth and increasing storage demand.

According to Newmark's Q3 2024 report, Dallas ranks third for projected population growth, demonstrating strong correlation between favorable macroeconomic trends and investment activity in the region.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.64%
Tags
none
-
Rhea-AI Summary

CubeSmart (NYSE: CUBE) has announced it will release its fourth quarter 2024 financial results after market close on Thursday, February 27, 2025. The company will host a conference call to discuss the results on Friday, February 28, 2025, at 11:00 a.m. ET.

Investors can access the live webcast through CubeSmart's investor relations website at investors.cubesmart.com. Those preferring to join by phone can dial 1 (800) 715-9871 using conference ID 4783436. A replay of the call will be available through March 14, 2025, accessible by dialing 1 (800) 770-2030 with the same conference ID.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.71%
Tags
conferences earnings
-
Rhea-AI Summary

CubeSmart (NYSE: CUBE) has released its tax allocation details for 2024 distributions of Common Shares of Beneficial Interest. The company paid four quarterly distributions of $0.51 per share, totaling $2.04 for the year. Each quarterly distribution consisted of $0.485746 in ordinary dividends and $0.024254 in nondividend distributions.

The breakdown of the annual distribution includes $1.942984 in ordinary dividends (Box 1a) and $0.097016 in nondividend distributions (Box 3). The Section 199A dividend amount is $1.942984. No capital gains, unrecaptured Section 1250 gains, or Section 897 capital gains were reported.

The fourth quarter 2024 distribution, made to holders of record as of January 2, 2025, will be considered a 2025 distribution for federal income tax purposes.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.86%
Tags
none
Rhea-AI Summary

CubeSmart (NYSE: CUBE) announced that Chief Operating Officer Joel Keaton will retire on April 30, 2025, after nearly 15 years with the company. Following his retirement, Keaton will serve as a consultant to ensure a smooth transition.

The company announced two key leadership promotions: Amy Cross will be promoted to Executive Vice President, Technology, Data Science, and Marketing from her current role as Senior Vice President of Information Technology and Revenue Management. Guy Middlebrooks will be promoted to Executive Vice President, Operations from his current position as Senior Vice President of Third Party Management.

Cross, who has been with CubeSmart for six years, previously served as Vice President of Digital Technology and Strategy at Aramark. Middlebrooks, a 19-year company veteran, has played a important role in growing CubeSmart's managed portfolio over the last decade.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.31%
Tags
none
-
Rhea-AI Summary

CubeSmart (NYSE: CUBE) has announced a 2.0% increase in its quarterly dividend, declaring $0.52 per common share for the period ending December 31, 2024. The dividend will be paid on January 16, 2025, to shareholders of record as of January 2, 2025. This marks the company's 15th consecutive annual dividend increase.

CubeSmart, a self-administered and self-managed real estate investment trust, currently owns or manages 1,538 self-storage properties across the United States. According to the 2024 Self Storage Almanac, the company ranks among the top three owners and operators of self-storage properties in the U.S.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.82%
Tags
dividends
-
Rhea-AI Summary

CubeSmart (NYSE: CUBE) reported its Q3 2024 results with diluted EPS of $0.44, down from $0.45 in Q3 2023. The company's FFO per diluted share decreased 1.5% to $0.67. Same-store NOI decreased 3.1% year-over-year, with revenues declining 0.8% and operating expenses increasing 5.3%. Same-store occupancy averaged 90.8% during the quarter, ending at 90.2%. The company added 24 stores to its third-party management platform, reaching 893 stores total. CubeSmart is under contract to acquire two stores for $22.0 million and maintains its 2024 FFO guidance between $2.62 and $2.66 per share.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.07%
Tags
Rhea-AI Summary

CubeSmart (NYSE: CUBE) has announced the schedule for its third quarter 2024 earnings release and conference call. The company will release its financial results for the three-month period ended September 30, 2024, after the market closes on Thursday, October 31, 2024. A conference call will follow on Friday, November 1, 2024, at 11:00 a.m. ET.

Investors can access a live webcast of the conference call from the investor relations page of CubeSmart's corporate website. For those joining by phone, the dial-in number is 1 (800) 715-9871 with conference ID 4783436. A replay of the webcast will be available on the company's website, and a telephonic replay can be accessed until November 15th, 2024, by dialing 1 (800) 770-2030 with conference ID 4783436#.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.21%
Tags
conferences earnings
-
Rhea-AI Summary

CubeSmart (NYSE: CUBE) reported its Q2 2024 results, with diluted EPS of $0.41 and FFO per share of $0.64. The company experienced a 0.3% growth in same-store revenue but a 1.2% decrease in same-store NOI due to a 4.2% increase in operating expenses. CubeSmart opened two development projects for $61.8 million and added 39 stores to its third-party management platform. The company maintained its 2024 guidance, projecting FFO per share between $2.61 and $2.67. Despite economic uncertainties, CubeSmart reported resilient customer demand and a stronger seasonal uplift in Q2.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.9%
Tags
-
Rhea-AI Summary

CubeSmart (NYSE: CUBE), a leading self-storage real estate investment trust, has announced a quarterly dividend of $0.51 per common share for the period ending September 30, 2024. The dividend will be payable on October 15, 2024, to shareholders of record as of October 1, 2024.

CubeSmart is one of the top three owners and operators of self-storage properties in the U.S., managing 1,497 self-storage facilities nationwide. The company's mission focuses on simplifying organizational and logistical challenges for its customers through innovative solutions and exceptional service.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.91%
Tags
dividends earnings
Rhea-AI Summary

CubeSmart (NYSE: CUBE) has announced the release date for its financial results for Q2 2024. The company will publish its earnings after the market closes on August 1, 2024. Following this, a conference call to discuss the results will be held at 11:00 a.m. ET on August 2, 2024. Investors can access a live webcast of the call on CubeSmart's investor relations page on their official website. Additionally, a replay of the call will be available until August 16, 2024, through telephonic replay by dialing the provided number with the mentioned conference ID.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.57%
Tags
conference call earnings

FAQ

What is the current stock price of CubeSmart (CUBE)?

The current stock price of CubeSmart (CUBE) is $41.81 as of February 21, 2025.

What is the market cap of CubeSmart (CUBE)?

The market cap of CubeSmart (CUBE) is approximately 9.5B.

What is CubeSmart?

CubeSmart is a real estate investment trust (REIT) that acquires, owns, and manages self-storage facilities across the United States.

How many locations does CubeSmart have?

CubeSmart operates over 600 self-storage locations nationwide.

Where are CubeSmart's major markets?

CubeSmart's major markets include Florida, Texas, California, New York, and Illinois.

What is the WOW! Department at CubeSmart?

The WOW! Department at CubeSmart is dedicated to delivering an exceptional customer service experience that exceeds customer expectations.

What were CubeSmart's financial results for the third quarter of 2023?

CubeSmart reported a net income of $102.6 million and FFO, as adjusted, of $154.0 million for the third quarter of 2023.

What is CubeSmart's third-party management platform?

CubeSmart's third-party management platform includes managing self-storage facilities owned by other parties, leveraging CubeSmart's operational expertise.

Does CubeSmart pay dividends?

Yes, CubeSmart declared a quarterly dividend of $0.49 per common share in July 2023.

What is CubeSmart's approach to new developments?

CubeSmart is involved in constructing new self-storage properties in high-barrier-to-entry locations, focusing on strategic urban markets.

How can I learn more about CubeSmart's services?

You can learn more about CubeSmart's services by visiting their website at www.cubesmart.com or by following them on social media.

How does CubeSmart position itself in the market?

CubeSmart positions itself as a top performer in the self-storage market through exceptional customer service, strategic acquisitions, and innovative storage solutions.
CubeSmart

Nasdaq:CUBE

CUBE Rankings

CUBE Stock Data

9.45B
223.61M
1.03%
99.93%
1.48%
REIT - Industrial
Real Estate Investment Trusts
Link
United States
MALVERN