CubeSmart Stock Price, News & Analysis

CubeSmart (NYSE: CUBE) has declared a quarterly dividend of $0.43 per common share for the period ending June 30, 2022. This is payable on July 15, 2022 to shareholders of record on July 1, 2022. As one of the top three self-storage property owners in the U.S., CubeSmart operates 1,277 properties. The company focuses on providing accessible, affordable, and climate-controlled storage solutions to meet the diverse needs of residential and commercial customers.

CubeSmart (CUBE) reported strong Q1 results for 2022, with earnings per share (EPS) at $0.17, down from $0.21 in Q1 2021. Funds from operations (FFO) per share rose to $0.58, reflecting a 23.4% increase year-over-year. Same-store net operating income (NOI) grew 21.4%, supported by a 15.6% revenue increase. The average same-store occupancy was 93.6%, ending the quarter at 94.1%. The company acquired one property for $32 million, anticipates further acquisitions, and declared a quarterly dividend of $0.43 per share.

CubeSmart (CUBE) is set to release its Q1 2022 financial results on April 28, 2022. The earnings conference call will occur on April 29, 2022, at 11:00 a.m. ET. Investors can access a live webcast through the company’s investor relations page. The company, a leading self-storage REIT, operates 1,269 properties across the U.S. and aims to address customers' organizational and logistical needs with affordable and accessible storage solutions.

CubeSmart reported strong operating results for Q4 and the full year 2021, with a net income of $45.3 million, up from $42.3 million YoY. The company achieved a 20.6% increase in same-store net operating income, driven by 15.8% revenue growth. It successfully completed the $1.7 billion acquisition of LAACO, adding 57 self-storage facilities. The board increased the quarterly dividend by 26.5% to $1.72 per share. Guidance for 2022 anticipates Earnings per Share of $0.98 to $1.05 and FFO of $2.35 to $2.42 per share.

CubeSmart has declared a quarterly dividend of $0.43 per common share for Q1 2022, payable on April 18, 2022, to shareholders of record by April 1, 2022. As one of the top three self-storage property operators in the U.S., CubeSmart owns or manages 1,265 self-storage facilities nationwide, aiming to address organizational and logistical challenges for both residential and commercial customers through its innovative storage solutions.

CubeSmart (NYSE: CUBE) announced it will release its financial results for the period ending December 31, 2021, after market close on February 24, 2022. A conference call will take place on February 25, 2022, at 11:00 a.m. ET to discuss these results.

Investors can join the call via a live webcast on the company's investor relations page. After the live event, the call will be available for replay on CubeSmart's website for 15 days and through a telephonic replay until March 12, 2022.

KKR has launched a self-storage real estate investment platform named Alpha Storage Properties (ASP), headed by industry veteran Jonathan Perry. KKR's real estate funds have acquired 16 self-storage assets for approximately $300 million, totaling around 11,700 units or 1.2 million square feet, in major growth markets including Austin, Atlanta, and Orlando. The firm aims to leverage its proven investment strategy and expertise to further expand its presence in the self-storage sector, which has shown steady growth over the past 30 years.

CubeSmart (NYSE: CUBE) has successfully completed its acquisition of LAACO, LTD., enhancing its portfolio with 59 self-storage facilities across Southern California, Phoenix, Las Vegas, and Houston. This strategic move expands CubeSmart's presence in key markets and aligns with its growth objectives. The acquisition was financed through capital raising efforts, including the issuance of 15.5 million shares and $1.05 billion in unsecured senior notes. CubeSmart is now one of the leading self-storage operators in the U.S., managing over 1,250 properties nationwide.