Stock Monitor: Terreno Realty Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 01, 2017 / Active-Investors free earnings report on CubeSmart (NYSE: CUBE) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=CUBE. The Company reported its third quarter fiscal 2017 operating results on October 26, 2017. The Malvern, Pennsylvania-based real estate investment trust surpassed top- and bottom-line expectations, and also updated its earnings guidance for the fiscal year. Register today and get free access to our complimentary member's area where many more reports are available:

www.active-investors.com/registration-sg

Active-Investors.comis currently working on the research report for Terreno Realty Corporation (NYSE: TRNO), which also belongs to the Financial sector as the Company CubeSmart. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=TRNO

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CubeSmart most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=CUBE

Earnings Highlights and Summary

For the third quarter of the fiscal year 2017, CubeSmart's revenues totaled $143.87 million, up 9% compared to $132.10 million in Q3 2016. The growth in revenues were primarily attributable to increased net effective rents and occupancy levels in the same-store portfolio, as well as revenues generated from property acquisitions and recently opened development properties. The Company's revenue numbers topped analysts' estimates of $140.4 million.

CubeSmart's same-store portfolio at September 30, 2017, included 432 stores containing approximately 29.5 million rentable square feet, or approximately 88.5% of the aggregate rentable square feet of the Company's 480 owned stores. These same-store properties represented approximately 91.7% of property NOI for the reported quarter.

CubeSmart's same-store physical occupancy was 93.7% for Q3 2017 compared to 93.1% for Q3 2016. The Company's same-store revenues increased 4.1% for the reported quarter, and same-store operating expenses increased 4.2% from Q3 2016. CubeSmart's same-store NOI increased 4.1% on a y-o-y basis.

CubeSmart reported a net income attributable to the Company's common shareholders of $37.3 million, or $0.21 per common share, in Q3 2017 compared to $23.4 million, or $0.13 per common share, in Q3 2016.

CubeSmart's adjusted funds from operations (AFFO) was $77.2 million for Q3 2017 compared to $68.7 million for Q3 2016. The Company's AFFO per share jumped 10.5% to $0.42 for the reported quarter compared to $0.38 for the year ago same period. CubeSmart's AFFO numbers exceeded Wall Street's estimates of $0.40 per share.

As of September 30, 2017, CubeSmart's total owned portfolio included 480 stores containing 33.4 million rentable square feet and had a physical occupancy of 91.9%.

Investment Activity

During Q3 2017, CubeSmart did not make any acquisitions. Subsequent to September 30, 2017, the Company acquired three stores, two of them located in Texas, and one in Florida, for approximately $28.0 million. In total for the year to date through the earnings release, the Company has acquired five properties for $49.9 million.

During Q3 2017, CubeSmart opened for operation one wholly-owned development property in Washington, DC for a total cost of $27.8 million, and completed a joint venture development property in New York City, New York for a total cost of $81.2 million, in which the Company has a 90% interest.

As of September 30, 2017, the Company had seven joint venture properties under development. The Company anticipates investing a total of $280.3 million related to these projects and had invested $87.4 million of that total as of the end of the reported quarter.

2017 Financial Outlook

For FY17, CubeSmart is forecasting fully diluted earnings per share (EPS) allocated to common stakeholders to be between $0.73 and $0.74 versus the earlier forecasts which were in the range of $0.70 and $0.74. The Company's fully diluted AFFO per share is now expected to be between $1.57 and $1.58 for FY17 from the prior guidance which was between $1.53 and $1.57.

For Q4 2017, CubeSmart is forecasting fully diluted EPS to be in the band of $0.20 and $0.21, and fully diluted AFFO per share to be between $0.40 and $0.41 for the upcoming quarter.

Stock Performance Snapshot

November 30, 2017 - At Thursday's closing bell, CubeSmart's stock slightly rose 0.63%, ending the trading session at $28.54.

Volume traded for the day: 1.69 million shares.

Stock performance in the last month ? up 4.85%; previous three-month period ? up 15.78%; past twelve-month period ? up 15.78%; and year-to-date ? up 6.61%

After yesterday's close, CubeSmart's market cap was at $5.16 billion.

Price to Earnings (P/E) ratio was at 43.77.

The stock has a dividend yield of 3.78%.

The stock is part of the Financial sector, categorized under the REIT - Industrial industry. This sector was up 0.2% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors