CubeSmart Earnings Reports

CubeSmart's Q4 2024 results reflected continued challenges in the self-storage sector, with same-store net operating income declining 3.7% year-over-year due to increased expenses and lower revenue. Total revenue increased slightly to $1.07 billion, driven by growth in property management fees. The company maintained a high occupancy rate of 89.3% and improved financial flexibility with strong cash flow and acquisitions.

CubeSmart reported a net income of $100.8 million and EPS of $0.44 for Q3 2024. Same-store NOI decreased by 3.1% year over year, driven by a decrease in revenues and an increase in operating expenses. The company added 24 stores to its third-party management platform, bringing the total to 893.

CubeSmart reported a net income of $94.0 million and EPS of $0.41 for the second quarter of 2024. FFO, as adjusted, was $146.0 million, or $0.64 per diluted share. Same-store NOI decreased 1.2% year over year, with revenue growth of 0.3% offset by a 4.2% increase in operating expenses.

CubeSmart reported a decrease in net income and EPS compared to Q1 2023, but is focusing on the summer rental season. Same-store NOI decreased by 1.9% year over year, driven by a 5.0% increase in operating expenses. The company acquired two stores for $20.2 million and added 68 stores to its third-party management platform.

CubeSmart showcased a robust portfolio with 1,406 properties and a $13.4 billion market cap. The company demonstrated a strong return on investment with a 52% 5-year total shareholder return and a 62% 5-year dividend growth. CubeSmart's strategic focus on quality markets and efficient expense management contributed to a 4.2% NOI growth.

CubeSmart reported a diluted EPS of $0.45 and an adjusted FFO per diluted share of $0.68 for Q3 2023. Same-store NOI increased by 2.0% year-over-year, driven by revenue growth of 2.3%.

CubeSmart reported a positive second quarter with increased net income and FFO per share, driven by same-store NOI growth. Urban markets showed stable performance, while Sun Belt demand normalized.

CubeSmart reported strong first-quarter results, with EPS of $0.43 and FFO per share of $0.65. The company experienced a 9.1% increase in same-store NOI, driven by revenue growth and effective expense management. CubeSmart added 25 stores to its third-party management platform, expanding its managed store count to 676.

CubeSmart showcased a high-quality portfolio with 1,279 properties and a market cap of $12.1 billion. The company has demonstrated strong financial performance with a 70% 5-year total shareholder return and a 55% 5-year dividend growth.

CubeSmart reported a strong Q3 2022 with increased net income and FFO, driven by solid demand and normalized seasonal trends. The company is well-positioned for 2023 with positive cash flow growth and a strong balance sheet.

CubeSmart reported a strong second quarter in 2022, with net income attributable to common shareholders increasing to $58.4 million and EPS reaching $0.26. The company's same-store NOI grew by 19.0% year over year, driven by a 14.0% increase in revenue.

CubeSmart reported a strong start to the year with increased same-store NOI, driven by revenue growth. The company acquired one property and added 33 stores to its third-party management platform. Financial results showed a decrease in net income but an increase in FFO per share.

CubeSmart reported a strong Q4 2021, marked by a 20.6% year-over-year increase in same-store NOI, driven by 15.8% revenue growth. The company closed the Storage West acquisition and increased its quarterly dividend by 26.5%.

CubeSmart demonstrated strong performance with revenue and NOI growth, driven by strategic execution and expansion through acquisitions and development openings.

CubeSmart reported strong Q2 2021 results with significant increases in net income, EPS, and same-store NOI. The company benefited from strengthening operating fundamentals and positive consumer demand, leading to exceptional performance during the rental season.

CubeSmart reported strong first-quarter results, driven by an 8.9% increase in same-store NOI and a record-high occupancy. The company's EPS was $0.21, and FFO per share, as adjusted, was $0.47. CubeSmart also opened a development project and established a joint venture, expanding its portfolio and third-party management platform.

CubeSmart reported a strong Q4 2020, with EPS of $0.22 and FFO per share, as adjusted, of $0.47. Same-store NOI increased 5.1% year over year, driven by revenue growth and expense management. The company closed on property acquisitions and dispositions, issued senior notes, and increased the quarterly dividend.

CubeSmart reported a net income of $46.9 million and EPS of $0.24 for Q3 2020. Same-store NOI decreased by 1.6% year over year, driven by revenue growth of 0.1% and an increase in property operating expenses of 4.2%. The company added 37 stores to its third-party management platform, bringing the total to 733.

CubeSmart reported a decrease in net income and same-store NOI due to the impact of COVID-19, but saw demand return to normal levels and implemented innovative solutions like SmartRentalTM. The company acquired two stores and opened one development property during the quarter.

CubeSmart reported a solid first quarter with increased EPS and FFO per share. The company expanded its third-party management platform and made strategic acquisitions. Same-store NOI increased by 0.8%, driven by revenue growth. In response to the COVID-19 pandemic, CubeSmart launched SmartRental and implemented safety measures, while also withdrawing its 2020 guidance due to uncertainty.

CubeSmart reported a solid Q4 2019, marked by an EPS of $0.22 and an adjusted FFO per share of $0.42. The company saw a slight increase in same-store NOI, driven by revenue growth, and strategically managed its capital markets activities, including issuing unsecured senior notes and increasing the quarterly dividend.