CubeSmart

CUBE

US2296631094

Specialized REITs

Market Closed - Nyse Other stock markets 04:00:02 2024-05-10 pm EDT			5-day change	1st Jan Change
42.69 ^USD	+0.54%		+2.25%	-7.90%

Apr. 26	Transcript : CubeSmart, Q1 2024 Earnings Call, Apr 26, 2024
Apr. 26	CubeSmart Q1 Adjusted FFO Declines, Revenue Increases -- Shares Rise After Hours	MT

CubeSmart Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023

November 02, 2023 at 04:15 pm EDT

CubeSmart reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 232.47 million compared to USD 226.84 million a year ago. Revenue was USD 267.88 million compared to USD 261.41 million a year ago. Net income was USD 102.65 million compared to USD 112.89 million a year ago. Basic earnings per share from continuing operations was USD 0.46 compared to USD 0.5 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 0.5 a year ago.
For the nine months, sales was USD 681.96 million compared to USD 651.34 million a year ago. Revenue was USD 785.21 million compared to USD 748.64 million a year ago. Net income was USD 298.09 million compared to USD 209.4 million a year ago. Basic earnings per share from continuing operations was USD 1.32 compared to USD 0.93 a year ago. Diluted earnings per share from continuing operations was USD 1.32 compared to USD 0.93 a year ago.

Latest news about CubeSmart

Transcript : CubeSmart, Q1 2024 Earnings Call, Apr 26, 2024	Apr. 26
CubeSmart Q1 Adjusted FFO Declines, Revenue Increases -- Shares Rise After Hours	Apr. 25	MT
Earnings Flash (CUBE) CUBESMART Reports Q1 Revenue $229.1M	Apr. 25	MT
CubeSmart Provides Earnings Guidance for Second Quarter and Full Year 2024	Apr. 25	CI
CubeSmart Reports Earnings Results for the First Quarter Ended March 31, 2024	Apr. 25	CI
Barclays Initiates CubeSmart With Equalweight Rating, $48 Price Target	Mar. 27	MT
CubeSmart Keeps Quarterly Dividend at $0.51 a Share, Payable April 15 to Shareholders of Record on April 1	Mar. 18	MT
Cubesmart Declares Quarterly Dividend on Common Share for the Period Ending March 31, 2024, Payable on April 15, 2024	Mar. 18	CI
Cubesmart Insider Sold Shares Worth $357,780, According to a Recent SEC Filing	Mar. 06	MT
Evercore ISI Adjusts Price Target on CubeSmart to $45 From $43, Maintains In-Line Rating	Mar. 04	MT
Transcript : CubeSmart, Q4 2023 Earnings Call, Mar 01, 2024	Mar. 01
CubeSmart Q4 Adjusted FFO, Revenue Rise; 2024 Guidance Issued	Feb. 29	MT
CubeSmart Provides Earnings Guidance for the First Quarter and Full Year 2024	Feb. 29	CI
CubeSmart Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 29	CI
CubeSmart Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	Feb. 28	CI
CubeSmart acquired two -store portfolio located in Connecticut for $20.2 million.	Feb. 28	CI
Janus International Group, Inc. : A promising company in the storage sector	Feb. 13
Deutsche Bank Initiates Coverage on CubeSmart With Sell Rating, $40 Price Target	Jan. 30	MT
UBS Raises Price Target on CubeSmart to $53 From $51, Keeps Buy Rating	Jan. 05	MT
Jefferies Upgrades CubeSmart to Buy From Hold, Raises Price Target to $53 From $38	Jan. 02	MT
Truist Securities Adjusts CubeSmart's Price Target to $46 From $43, Keeps Hold Rating	Dec. 28	MT
North American Morning Briefing : Stock Futures -2-	Dec. 18	DJ
BMO Capital Upgrades CubeSmart to Outperform From Market Perform, Raises Price Target to $49 From $46	Dec. 15	MT
Wells Fargo Adjusts Price Target on CubeSmart to $42 From $37, Maintains Equal-Weight Rating	Dec. 12	MT
North American Morning Briefing : Traders Eye -2-	Dec. 12	DJ

Chart CubeSmart

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Company Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer climate-controlled storage space for residential and commercial customers. It owns its assets and conducts its operations through the CubeSmart, L.P. (Operating Partnership), and subsidiaries of the Operating Partnership. Its customers rent storage cubes for their exclusive use, on a month-to-month basis. Additionally, some of its stores offer outside storage areas for vehicles and boats. Its stores are designed to accommodate both residential and commercial customers, with features, such as wide aisles and load-bearing capabilities for large truck access. Its customers can access their storage cubes during business hours, and some of its stores provide customers with 24-hour access. It owns about 611 self-storage properties located in 24 states and in the district of Columbia, containing an aggregate of about 44.1 million rentable square feet.

Sector

Specialized REITs

Calendar

2024-05-21 - Annual General Meeting

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Ratings for CubeSmart

Trading Rating

Investor Rating

ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

42.69 USD

Average target price

46.25 USD

Spread / Average Target

+8.34%

Consensus

EPS Revisions

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Quarterly earnings - Rate of surprise

Company calendar

Sector Self-Storage REITs

	1st Jan change	Capi.
CUBESMART	-7.90%	9.6B
EXTRA SPACE STORAGE INC.	-8.52%	31.05B
SHURGARD SELF-STORAGE LTD.	-11.61%	4.16B
BIG YELLOW GROUP PLC	-7.04%	2.77B
NATIONAL STORAGE AFFILIATES TRUST	-11.36%	2.75B
SAFESTORE HOLDINGS PLC	-8.82%	2.2B
NATIONAL STORAGE REIT	-4.78%	1.98B
ABACUS STORAGE KING	+1.33%	993M
SMARTSTOP SELF STORAGE REIT, INC.	-8.13%	967M
WAREHOUSE REIT PLC	-8.91%	446M

Self-Storage REITs

CubeSmart

Equities

CUBE

US2296631094

Specialized REITs

CubeSmart Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023

EPS Revisions