CUBE
CubeSmart35.79
-0.76-2.08%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Q&A pins revenue positivity to H2 2026
Q&A largely reaffirmed prepared remarks on gradual stabilization but added color: positive same-store revenue growth likely back-half 2026 at earliest, per churn math. October occupancy gap narrowed to -100bps YoY, move-in rents ~1.9%. Cube ran no promotions—unlike peers—with Q3's 2.5% gross/net move-in lift. Sellers softened, unlocking three Q4 acquisitions at low-5s cap rates stabilizing to 6%. Sunbelt lags on supply and movers; urban stars shine. Lengths of stay stay elevated. Watch housing catalyst.
Key Stats
Market Cap
8.20BP/E (TTM)
23.09Basic EPS (TTM)
1.55Dividend Yield
0.06%Recent Filings
8-K
CubeSmart 2025 results furnished
CubeSmart furnished its January 2026 investor presentation under Items 2.02 and 7.01, highlighting 2025 results with (0.6)% same-store revenue growth, (1.1)% NOI growth, and $2.56-$2.60 FFO as adjusted per share outlook. It bought out the remaining 80% HVP IV JV stake for $452.8M, added 109 third-party managed stores to reach 863, and issued $450M 5.125% notes due 2035. Growth persists amid soft demand.
8-K
CubeSmart 2025 update furnished
CubeSmart furnished its December 2025 investor presentation under Items 2.02 and 7.01, highlighting 2025 same-store revenue down 0.6% and NOI down 1.1% year-to-date, yet projecting full-year FFO as adjusted per share of $2.56-$2.60. Key moves included the $452.8M buyout of the remaining 80% HVP IV JV stake and adding 109 stores to third-party management. Balance sheet stays solid. Outlook holds steady.
8-K
Q3 meets expectations, NOI dips
CubeSmart reported Q3 results meeting expectations, with same-store NOI down 1.5% from lower revenues and steady expenses; occupancy ended at 89.0%. Coastal markets held strong, but sunbelt traded rate for occupancy. Issued $450M notes at 5.125% due 2035. Raised full-year FFO guidance to $2.56-$2.60.
10-Q
Q3 FY2025 results
CubeSmart posted Q3 revenues of $285.1M, up 5.2% y/y, driven by the February 2025 consolidation of 28 HVP IV stores for $452.8M cash (including $44.4M debt repayment), recognizing $466.9M assets with $32.0M in-place leases (12-month life). NOI climbed 2.8% y/y to $194.2M amid higher property expenses, yet net income fell to $82.4M from $101.0M on elevated $66.7M depreciation (up 30.2% y/y) and $29.4M interest (up 29.1% y/y from $444M August notes issuance). Diluted EPS held at $0.36, matching shares. Cash swelled to $108.4M with $849.3M revolver capacity; total debt $3.4B. Competition from new self-storage operators pressures occupancy.
8-K
CubeSmart shares investor deck
CubeSmart furnished its September 2025 investor presentation under Reg FD, highlighting YTD same-store NOI down 0.9% amid soft demand, yet completed the $452.8M HVP IV JV buyout for full ownership of 28 high-quality stores. Same-store occupancy slipped 80 bps YOY to 89.9%. Full-year FFO as adjusted guides $2.54-$2.60 per share.
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