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Cubesmart (CUBE)
:CUBE
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.42Last Year’s EPS
0.42Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: -0.71%
|Next Earnings Date:Apr 24, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a cautiously optimistic outlook. While there are positive trends in narrowing occupancy gaps and improvements in rental rates, significant challenges persist, including a decline in NOI and expense pressures. The company has shown strength in strategic acquisitions and maintaining a strong dividend yield, yet remains cautious about the macroeconomic environment and its impact on future growth.Company Guidance
During CubeSmart's fourth quarter 2024 earnings call, guidance for 2025 was cautiously optimistic, with several key metrics highlighted. The company observed a narrowing year-over-year same-store occupancy gap from 100 basis points negative at the end of 2024 to 50 basis points negative by February 2025. Rents for new customer rentals improved their year-over-year gap from negative 10.3% in the fourth quarter to averaging negative 7.4% recently. Same-store NOI declined by 3.7% in the fourth quarter, while same-store revenue growth was negative 1.6%. For 2025, the company expects same-store NOI to decline by 3% at the midpoint of its guidance. Additionally, CubeSmart reported FFO per share as adjusted of $0.68 for the quarter and announced a 2% increase in its quarterly dividend to an annualized $2.08 per share. The company also completed notable acquisitions, including an 85% interest in a 14-store portfolio in the Dallas MSA and the remaining 80% interest in a joint venture known as HBP4, with a total consideration of $452.8 million for the latter. The guidance assumes a continued gradual improvement in key metrics, with no significant catalysts expected to sharply reaccelerate organic growth in 2025.Narrowing Year-Over-Year Occupancy Gap
The year-over-year same-store occupancy gap has narrowed from 100 basis points negative at year-end 2024 to negative 50 basis points as of the end of February 2025.
Improvement in Rent for New Customer Rentals
Rents for new customer rentals improved from a year-over-year gap of negative 10.3% in Q4 2024 to negative 7.4% recently.
Successful Joint Venture Acquisition
CubeSmart successfully closed a joint venture by acquiring the partner's interest, bringing 28 stores onto their balance sheet, free of property-level debt.
Dividend Increase
Announced a 2% increase in quarterly dividend to an annualized $2.08 per share, translating to a 4.9% dividend yield.
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CUBE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CUBE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $42.53 | $41.28 | -2.94% |
| Oct 31, 2024 | $47.26 | $46.76 | -1.06% |
| Aug 01, 2024 | $46.78 | $47.67 | +1.90% |
| Apr 25, 2024 | $40.03 | $39.43 | -1.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cubesmart (CUBE) report earnings?
Cubesmart (CUBE) is schdueled to report earning on Apr 24, 2025, TBA Not Confirmed.
What is Cubesmart (CUBE) earnings time?
Cubesmart (CUBE) earnings time is at Apr 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CUBE EPS forecast?
CUBE EPS forecast for the fiscal quarter 2025 (Q1) is 0.42.
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