Loading...
•
Sep 30, 2025
CubeSmart Q3 2025 Earnings Report
CubeSmart posted lower net income and revenue growth challenges, while maintaining stable same-store occupancy and executing strategic financings.
Key Takeaways
CubeSmart reported Q3 2025 diluted EPS of $0.36 and net income of $82.9 million, down from the prior year. Revenue grew modestly due to acquisitions and new developments, while same-store NOI fell 1.5%. The company issued $450M in unsecured notes to strengthen liquidity and updated full-year guidance to reflect stabilized trends.
Net income declined to $82.9 million from $100.8 million in Q3 2024
Same-store NOI decreased 1.5% due to lower revenue and slightly higher operating expenses
Diluted EPS was $0.36; FFO per diluted share was $0.65
Third-party managed store count grew to 863, adding 46 stores in the quarter
Revenue by Segment
Forward Guidance
CubeSmart raised the midpoints of its full-year FFO and same-store guidance ranges, reflecting stabilizing trends, but continued to guide for slightly negative same-store growth for the full year.
Positive Outlook
- Raised midpoint of full-year FFO per share guidance to $2.58
- Full-year EPS expected to be between $1.46 and $1.50
- Positive momentum in operating performance in coastal/urban markets
- Successful $450 million unsecured bond offering at attractive rates
- Continued expansion of third-party management platform
Challenges Ahead
- Full-year same-store NOI growth still expected to be negative
- Challenges in sunbelt markets balancing rate and occupancy
- Decline in same-store occupancy compared to prior year
- Modest decline in FFO per share vs. prior year
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...