Last $21.59 USD
Change Today +0.22 / 1.03%
Volume 671.4K
CUBE On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

cubesmart (CUBE) Snapshot

Open
$21.45
Previous Close
$21.37
Day High
$21.60
Day Low
$21.33
52 Week High
11/6/14 - $21.61
52 Week Low
12/4/13 - $15.06
Market Cap
3.5B
Average Volume 10 Days
891.7K
EPS TTM
$0.17
Shares Outstanding
162.9M
EX-Date
09/29/14
P/E TM
127.7x
Dividend
$0.52
Dividend Yield
2.41%
Current Stock Chart for CUBESMART (CUBE)

cubesmart (CUBE) Related Businessweek News

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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: 04/10/14
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 to Acquisition of Properties

CubeSmart announced that it expects to close on 5 additional property acquisitions totaling $43.4 million by year end. And finally, to round out the $570 million total, the company expects to close on 1 of 5 properties under contract to buy at CO for $38 million during the fourth quarter.

CubeSmart Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Revises Earnings Guidance for the Year Ending December 31, 2014

CubeSmart reported unaudited consolidated earnings results for third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue of $97,092,000 compared to $82,487,000 a year ago. Operating income was $23,126,000 compared to $16,232,000 a year ago. Income from continuing operations was $8,591,000 compared to $5,706,000 a year ago. Net income attributable to the company was $8,480,000 compared to $16,342,000 a year ago. Net income attributable to the company's common shareholders was $6,978,000 or $0.05 per basic and diluted share compared to $14,840,000 or $0.11 per basic and diluted share a year ago. Income from continuing operations attributable to the company's common shareholders was $6,978,000 or $0.05 per basic and diluted share against $4,130,000 or $0.03 per basic and diluted share a year ago. Funds from operations (FFO) were $41,552,000 or $0.27 fully diluted per share compared to $34,583,000 or $0.25 fully diluted per share for the third quarter of 2011. FFO, as adjusted was $42,810,000 or $0.28 fully diluted per share against $35,053,000 or $0.25 fully diluted per share a year ago. Increases in total revenues are primarily attributable to increased net effective rent growth and occupancy levels in the same-store portfolio and revenues generated from property acquisitions. For the nine months, the company reported total revenues of $276,696,000 compared to $235,432,000 a year ago. Operating income was $63,730,000 compared to $37,281,000 a year ago. Income from continuing operations was $20,824,000 compared to $4,662,000 a year ago. Net income attributable to the company was $20,896,000 compared to $18,500,000 a year ago. Net income attributable to the company's common shareholders was $16,390,000 or $0.11 per basic and diluted share compared to $13,994,000 or $0.10 per basic and diluted share a year ago. Income from continuing operations attributable to the company's common shareholders was $16,059,000 or $0.11 per basic and diluted share compared to $154,000 or $0.00 per basic and diluted share a year ago. Funds from operations (FFO) were $114,903,000 or $0.77 fully diluted per share compared to $91,871,000 or $0.66 fully diluted per share a year ago. FFO, as adjusted was $118,561,000 or $0.79 fully diluted per share against $94,104,000 or $0.68 fully diluted per share a year ago. The company provided earnings guidance for the fourth quarter and revised earnings guidance for the year ending December 31, 2014. For the quarter, the company estimates that its fully diluted FFO, as adjusted, per share for the quarter ending December 31, 2014 will be between $0.26 and $0.27, and that its fully diluted earnings per share for the period will be between $0.04 and $0.05. For the year, 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 $1.06 and $1.07 against previous guidance of between $1.03 and $1.06, and its fully diluted net income per share for the period will be between $0.16 and $0.17 against previous guidance of previously between $0.13 to $0.16. The company's estimates are based on the following key assumptions: For 2014, a same-store pool consisting of 346 assets totaling 23.2 million square feet. Same-store net operating income (NO) growth of 9.25% to 9.75% over 2013 (previously 8.25% to 9.25%), driven by revenue growth of 7.0% to 7.25% (previously 6.75% to 7.25%) and expense growth of 2.25% to 2.75% (previously 3.0% to 3.5%). General and administrative expenses of approximately $28.0 million to $28.5 million (previously $27.5 million to $28.5 million). Due to uncertainty related to the timing and terms of transactions, the impact of future investment activity is excluded from guidance.

CubeSmart Seeks Acquisitions

CubeSmart (NYSE:CUBE) is looking for acquisition opportunities. CubeSmart commenced an underwritten public offering of 6.5 common shares and expects to use all of the net proceeds of the offering for general business purposes, including without limitation, facility acquisitions, developments, joint ventures, capital expenditures, working capital, and other general corporate purposes.

 

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CUBE Competitors

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Company Last Change
Cousins Properties Inc $12.45 USD +0.23
Hersha Hospitality Trust $7.40 USD +0.09
Lexington Realty Trust $11.08 USD +0.09
Pennsylvania Real Estate Investment Trust $23.54 USD -0.05
Sovran Self Storage Inc $85.37 USD +1.15
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Industry Analysis

CUBE

Industry Average

Valuation CUBE Industry Range
Price/Earnings 100.0x
Price/Sales 8.9x
Price/Book 2.5x
Price/Cash Flow 21.7x
TEV/Sales 6.4x
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