CubeSmart issues updates as a self-administered and self-managed REIT that owns and manages self-storage properties across the United States. Its news centers on rental operations for residential and commercial customers, same-store revenue trends, physical occupancy, third-party management additions, and the size and composition of its owned and managed portfolio.
Recurring announcements also cover quarterly dividends and tax allocations for common shares, earnings release schedules and conference calls, share repurchases or ATM equity program activity, and property investment through acquisitions and joint ventures, including stores managed by CubeSmart for institutional partners.
CubeSmart (NYSE: CUBE) reported its Q2 2020 results, revealing a net income of $38.5 million, down from $49.4 million a year prior. Earnings per share (EPS) were $0.20, compared to $0.26 last year. Same-store net operating income decreased by 4.1%, driven by a 2.2% revenue decline. However, occupancy improved to 94.0% by quarter's end. The company acquired two properties for $65.7 million and opened a new development property for $45.9 million. Due to COVID-19 uncertainties, CubeSmart has not reinstated its 2020 guidance but highlighted a strong liquidity position.
CubeSmart (NYSE: CUBE) has declared a quarterly dividend of $0.33 per common share, payable on October 15, 2020, to shareholders of record by October 1, 2020. This decision reinforces the company’s commitment to returning value to its shareholders while maintaining its position as one of the top three self-storage property operators in the U.S., with a portfolio of 1,250 properties. The dividend highlights CubeSmart’s focus on providing accessible and affordable storage solutions.
CubeSmart (NYSE: CUBE) will release its financial results for the quarter ending June 30, 2020, on August 6, 2020, after market close. Following the release, a conference call is scheduled for August 7, 2020, at 11:00 a.m. ET. Investors can access the call via CubeSmart's investor relations page or by joining through various phone lines provided for domestic, international, and Canadian callers. CubeSmart is a leading self-storage real estate investment trust, owning or managing 1,250 properties in the U.S., focusing on affordable, accessible, climate-controlled storage solutions.
CubeSmart (NYSE: CUBE) declared a quarterly dividend of $0.33 per common share for the period ending June 30, 2020. This dividend will be payable on July 15, 2020, to shareholders of record as of July 1, 2020. CubeSmart is a leading self-storage real estate investment trust, managing 1,240 properties across the U.S., positioning itself among the top three in the industry. The company focuses on providing innovative storage solutions that cater to various customer needs.
CubeSmart (NYSE: CUBE) reported Q1 2020 results, highlighting earnings per share of $0.20 and funds from operations (FFO) per share of $0.41. Despite challenges from COVID-19, same-store net operating income (NOI) increased by 0.8% year-over-year, with revenue growing by 1.7%. The company maintained a strong occupancy rate of 91.8%. Notably, CubeSmart paused rate increases and adjusted delinquency processes due to the pandemic. The firm acquired one property for $9 million and invested in a joint venture for 14 stores at $135.3 million. Guidance for 2020 has been withdrawn amid ongoing uncertainties.
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