CubeSmart Stock Price, News & Analysis

CubeSmart (NYSE: CUBE) will release its financial results for the three-month period ended December 31, 2020, after market close on February 25, 2021, followed by a conference call at 11:00 a.m. ET on February 26, 2021. Investors can join via a live webcast on the company’s website. Following the call, a replay will be available for 30 days. CubeSmart is a leading self-storage real estate investment trust that owns or manages 1,240 properties across the U.S., focusing on providing accessible and affordable storage solutions for customers.

CubeSmart (NYSE: CUBE), a leading self-storage REIT, has announced the tax allocations for its 2020 distributions to common shareholders. The total distribution per share amounts to $1.32, with specific allocations for ordinary dividends, capital gains, and other categories. The company operates 1,238 self-storage properties across the U.S., marking it as one of the top three in the industry. The fourth quarter distribution to shareholders of record as of January 4, 2021, is treated as a 2021 distribution for tax purposes.

CubeSmart (NYSE: CUBE) has announced a quarterly dividend of $0.34 per common share for the period ending December 31, 2020, representing an annualized rate of $1.36. This marks an increase of $0.04 from the previous rate of $1.32. The dividend is payable on January 15, 2021, to shareholders of record on January 4, 2021. This is the 11th consecutive year of dividend increases, indicating the company's strong cash flow generation even amid market uncertainties.

CubeSmart (CUBE) reported its operating results for Q3 2020, demonstrating resilience amid COVID-19. Earnings per share (EPS) reached $0.24, up from $0.22 in Q3 2019, with net income at $46.9 million. The same-store occupancy was strong at 94.3%, although net operating income (NOI) declined by 1.6% year-over-year. The company added 37 stores to its management platform and announced a major acquisition of eight properties valued at approximately $540 million. Despite these positives, guidance for the remainder of 2020 remains suspended due to pandemic uncertainties.

CubeSmart (CUBE) announced the acquisition of eight self-storage properties in New York City from Storage Deluxe for $540 million. This portfolio spans 780,425 rentable square feet across Brooklyn, Queens, and the Bronx. The deal includes $201.7 million in cash, $183.7 million in Operating Partnership Units, and $154.6 million in assumed debt. CubeSmart aims to strengthen its market position and capitalize on favorable demographic trends in these boroughs. The transaction is expected to close in Q4 2020, contingent on customary conditions.

CubeSmart (NYSE: CUBE) will announce its financial results for Q3 2020 on November 5, 2020, after market close. A conference call is scheduled for November 6, 2020, at 11:00 a.m. ET. Investors can access the live webcast via the company's investor relations page. CubeSmart operates 1,253 self-storage properties across the U.S., ranking among the top three in the sector. The company aims to provide affordable and accessible storage solutions for residential and commercial needs.

CubeSmart (NYSE: CUBE) launched its new Mobile App on September 2, 2020, designed to enhance customer convenience in managing self-storage services. Customers can access gate codes, pay bills, and set up AutoPay directly from their phones. This app aims to simplify the storage experience, allowing users to manage their accounts and reservations digitally. With over 1,266 properties in the U.S., CubeSmart remains a leading self-storage operator, emphasizing customer care and innovative solutions.

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.