CubeSmart Stock Price, News & Analysis

CubeSmart (NYSE: CUBE) reported strong Q3 2021 results with EPS of $0.43, a significant increase from $0.24 in Q3 2020. The company’s FFO per share rose 27.3% to $0.56, aided by a 21.1% increase in same-store NOI driven by 15.6% revenue growth. Average same-store occupancy reached 95.6%. During the quarter, CubeSmart acquired two properties for $33 million and sold four for $38.6 million. The quarterly dividend was raised by 26.5% to an annualized rate of $1.72. The firm also increased its 2021 EPS guidance to $1.30-$1.31, indicating robust financial health.

On November 2, 2021, CubeSmart (NYSE: CUBE) announced a quarterly dividend of $0.43 per common share for the period ending December 31, 2021. This dividend is payable on January 18, 2022, with a record date of January 3, 2022. The new annualized dividend rate of $1.72 reflects a 26.5% increase from the previous rate of $1.36, marking the 12th consecutive annual increase in dividends. CEO Christopher P. Marr highlighted the strong operating results and cash flow growth as key factors behind this decision.

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.