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.
CubeSmart (NYSE: CUBE) will release its financial results for the quarter ending September 30, 2021, on November 4, 2021, after market close. A conference call to discuss these results is scheduled for November 5, 2021, at 11:00 a.m. ET. Investors can access a live webcast on the Company’s website. CubeSmart operates 1,240 self-storage properties in the U.S., ranking among the top three operators in the industry, according to the 2021 Self Storage Almanac. The Company focuses on providing accessible, affordable, and climate-controlled storage solutions.
CubeSmart (NYSE: CUBE) has launched SmartView, a mobile app for third-party management clients, enhancing access to key performance metrics in real-time. This app allows users to view their portfolio data from anywhere, providing summarized insights into individual stores and overall performance trends through clear visualizations. CubeSmart is the third-largest self-storage property operator in the U.S., managing 1,250 self-storage properties, according to the 2021 Self Storage Almanac. This technological advancement reflects CubeSmart's commitment to innovation in the self-storage industry.
CubeSmart (NYSE: CUBE) has been named to the Philadelphia Business Journal’s “Soaring 76 List,” highlighting it as one of the fastest-growing companies in the greater Philadelphia area. This recognition underscores the company's strong financial performance over a three-year period. CEO Christopher P. Marr expressed pride in contributing to the local economy, emphasizing CubeSmart's robust operational platform and skilled team. As one of the top three self-storage property owners in the U.S., CubeSmart operates 1,252 facilities nationwide, offering innovative storage solutions to meet diverse customer needs.
CubeSmart reported strong operating results for Q2 2021, with earnings per share of $0.24 and adjusted funds from operations (FFO) of $0.50. The company saw a 17.6% increase in same-store net operating income, driven by 14.0% revenue growth and high occupancy rates averaging 95.6%. Key investment activities included acquiring two properties for $34.1 million and opening two new development sites for $48.7 million. Revised 2021 guidance anticipates EPS between $0.93 and $0.97 and adjusted FFO per share at $1.99 to $2.03, signaling continued growth and demand in the self-storage market.
CubeSmart (NYSE: CUBE), a leading self-storage REIT, has declared a quarterly dividend of $0.34 per common share for the period ending September 30, 2021. This dividend is payable on October 15, 2021 to shareholders of record as of October 1, 2021. With a portfolio of 1,262 self-storage properties across the U.S., CubeSmart ranks among the top three operators in the sector, providing affordable and accessible storage solutions.
CubeSmart (NYSE: CUBE) will release Q2 2021 financial results on July 29, 2021, after market close. A conference call to discuss these results is scheduled for July 30, 2021, at 11:00 a.m. ET. This event will be accessible via a live webcast on the investor relations page of CubeSmart's website. The company owns or manages 1,266 self-storage properties and is a leading operator in the U.S. self-storage market. The information will also be available for replay on the website for 15 days post-call.
CubeSmart (NYSE: CUBE), a leading self-storage REIT, has declared a quarterly dividend of $0.34 per common share for the period ending June 30, 2021. This dividend will be paid on July 15, 2021 to shareholders of record as of July 1, 2021. CubeSmart manages or owns 1,262 self-storage properties across the U.S., ranking among the top three operators in the sector.
CubeSmart reported robust operating results for Q1 2021, with earnings per share of $0.21 and funds from operations (FFO) per share of $0.47, reflecting a 14.6% increase from the prior year. The company achieved an 8.9% increase in same-store net operating income (NOI), driven by a 6.7% rise in revenue. Same-store occupancy averaged 93.8%, ending at 94.4%. It also opened a $26.4 million development project and acquired a 20% stake in a new joint venture. The 2021 outlook indicates improved earnings estimates, projecting EPS between $0.75 and $0.81 and FFO between $1.80 and $1.86.
CubeSmart (NYSE: CUBE) will release its financial results for the three-month period ending March 31, 2021, on April 29, 2021, after market close. A conference call is scheduled for April 30, 2021, at 11:00 a.m. ET to discuss these results. Investors can access the live webcast on the company’s investor relations page. Following the call, a replay will be available for 15 days on the website, and a telephonic replay will be accessible through May 14, 2021. CubeSmart operates 1,246 self-storage properties, ranking among the top three in the U.S.
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