Last $18.60 USD
Change Today +0.05 / 0.27%
Volume 1.1M
CUBE On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

cubesmart (CUBE) Snapshot

Open
$18.51
Previous Close
$18.55
Day High
$18.61
Day Low
$18.51
52 Week High
10/18/13 - $19.69
52 Week Low
12/4/13 - $15.06
Market Cap
2.8B
Average Volume 10 Days
892.8K
EPS TTM
$0.15
Shares Outstanding
148.6M
EX-Date
09/29/14
P/E TM
126.0x
Dividend
$0.52
Dividend Yield
2.69%
Current Stock Chart for CUBESMART (CUBE)

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cubesmart (CUBE) Details

CubeSmart is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in ownership, operation, acquisition and development of self-storage facilities. The firm was formerly known as U-Store-It Trust. CubeSmart was founded in July 2004 and is based in Wayne, Pennsylvania.

1,442 Employees
Last Reported Date: 02/28/14
Founded in 2004

cubesmart (CUBE) Top Compensated Officers

Chief Executive Officer, President and Truste...
Total Annual Compensation: $450.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $347.0K
Chief Legal Officer, Senior Vice President an...
Total Annual Compensation: $287.0K
Compensation as of Fiscal Year 2013.

cubesmart (CUBE) Key Developments

CubeSmart Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revised Earnings Guidance for 2014; Provides Earnings Guidance for the Third Quarter of 2014

CubeSmart announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. FFO, as adjusted, was $40.0 million for the second quarter of 2014, compared with $31.6 million for the second quarter of 2013. FFO per share, as adjusted, increased 17.4% to $0.27 for the second quarter of 2014, compared with $0.23 for the same period last year. Total revenues increased $14.0 million to $92,337,000 against $78,289,000 a year ago. Increases in total revenues are primarily attributable to increased occupancy levels and net effective rent growth in the same-store portfolio and revenues generated from property acquisitions. The Company reported net income attributable to the Company's common shareholders of $6.4 million, or $0.04 per common share, in the second quarter of 2014, compared with net income attributable to the Company's common shareholders of $1.0 million, or $0.01 per common share, in the second quarter of 2013. Operating income was $22,711,000 and income from continuing operations was $7,993,000 against operating income of $13,912,000 and income from continuing operations of $992,000 a year ago. FFO was $39,324,000 or $0.26 per diluted share against $29,926,000 or $0.22 per diluted share a year ago. For the six months, operating income was $43,004,000 and income from continuing operations was $12,233,000 against operating income of $22,812,000 and loss from continuing operations of $1,044,000 a year ago. Total revenues were $179,604,000 against $152,945,000 a year ago. The Company reported net income attributable to the Company's common shareholders of $9.412 million, or $0.07 per diluted share against loss of $846,000 or $0.01 per diluted share a year ago. Diluted earnings per share from continuing operations was $0.06 against loss of $0.03 a year ago. FFO was $73,351,000 or $0.50 per diluted share against $57,288,000 or $0.41 per diluted share a year ago. FFO, as adjusted was $75,751,000 or $0.52 per diluted share against $59,051,000 or $0.43 per diluted share a year ago. The company is adjusting its previously issued estimates as well as underlying assumptions, and now expects that its fully diluted FFO per share, as adjusted, for 2014 will be between $1.03 and $1.06 (previously between $0.99 and $1.02), and its fully diluted net income per share for the period will be between $0.13 and $0.16 (previously between $0.08 to $0.11). Same-store net operating income growth of 8.25% to 9.25% over 2013 (previously 6.5% to 7.5%), driven by revenue growth of 6.75% to 7.25% (previously 5.25% to 6.25%). The company expects earnings per diluted share allocated to common shareholders in the range of $0.04 to $0.05 and FFO per diluted share, as adjusted of $0.26 to $0.27 for the third quarter of 2014.

CubeSmart Declares Quarterly Dividend on Common and Preferred Shares, Payable on October 15, 2014

CubeSmart announced that its board of trustees declared a quarterly dividend of $0.13 per common share for the period ending September 30, 2014. The dividend is payable on October 15, 2014 to common shareholders of record on October 1, 2014. The board of trustees also declared a quarterly dividend of $0.484375 for the 7.75% Series A Cumulative Redeemable Preferred Shares payable on October 15, 2014 to holders of record on October 1, 2014.

CubeSmart to Report Q2, 2014 Results on Aug 07, 2014

CubeSmart announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Aug 07, 2014

 

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CUBE Competitors

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Company Last Change
Cousins Properties Inc $12.69 USD -0.01
Government Properties Income Trust $24.02 USD +0.15
Hersha Hospitality Trust $6.79 USD 0.00
Lexington Realty Trust $10.88 USD +0.06
Sovran Self Storage Inc $77.27 USD +0.12
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Industry Analysis

CUBE

Industry Average

Valuation CUBE Industry Range
Price/Earnings 100.0x
Price/Sales 7.9x
Price/Book 2.3x
Price/Cash Flow 16.7x
TEV/Sales 4.5x
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