Positive Move-in Rates
For the first time since Q1 2022, move-in rates in the same-store portfolio were positive year-over-year, indicating improving fundamentals.
Successful Financial Management
CubeSmart successfully issued $450 million in 10-year senior unsecured notes with a yield to maturity of 5.29%, marking their first market return in four years.
Third-Party Management Expansion
CubeSmart added 46 stores to its third-party management platform this quarter, bringing the total to 863 stores.
Guidance Increase
The company raised guidance with a $0.01 increase in FFO per share as adjusted and improved same-store NOI expectations, despite anticipating negative revenue growth in Q4.