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 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 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 Guidance for 2020 has been withdrawn amid ongoing uncertainties.
Summary not available.