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Last $24.26 USD
Change Today +0.09 / 0.37%
Volume 818.3K
CUBE On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

cubesmart (CUBE) Snapshot

Open
$24.10
Previous Close
$24.17
Day High
$24.53
Day Low
$24.05
52 Week High
01/23/15 - $25.78
52 Week Low
09/29/14 - $17.72
Market Cap
4.0B
Average Volume 10 Days
1.1M
EPS TTM
$0.15
Shares Outstanding
166.3M
EX-Date
03/30/15
P/E TM
161.7x
Dividend
$0.64
Dividend Yield
2.39%
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 Malvern, Pennsylvania.

1,640 Employees
Last Reported Date: 02/27/15
Founded in 2004

cubesmart (CUBE) Top Compensated Officers

Chief Executive Officer, President and Truste...
Total Annual Compensation: $525.0K
Chief Financial Officer
Total Annual Compensation: $375.0K
Chief Legal Officer, Senior Vice President an...
Total Annual Compensation: $310.0K
Compensation as of Fiscal Year 2014.

cubesmart (CUBE) Key Developments

Cubesmart Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revised Earnings Guidance for the Full Year of 2015; Provides Earnings Guidance for the Second Quarter Ending June 30, 2015

CubeSmart reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported operating income of $20,679,000, income from continuing operations was $8,522,000 or $0.04 diluted per share, net income of $8,522,000, net income attributable to the company of $8,434,000 or $0.04 per share on total revenues of $103,688,000 against operating income of $18,614,000, income from continuing operations was $4,240,000 or $0.02 diluted per share, net income of $4,576,000, net income attributable to the company of $4,530,000 or $0.02 per share on total revenues of $87,267,000 for the same period a year ago. FFO was $46,263,000 or $0.27 diluted per share against $34,027,000 or $0.23 diluted per share for the same period a year ago. FFO, as adjusted was $46,773,000 or $0.28 per share against $35,706,000 or $0.25 per share for the same period 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 2015 will be between $1.15 and $1.19 compared to previously expected range of between $1.14 and $1.19, and that its fully diluted net income per share for the period will be between $0.20 and $0.24 compared to previously expected range of between $0.19 and $0.24. The company provided earnings guidance for the second quarter ending June 30, 2015. The company estimates that its fully diluted FFO, as adjusted, per share for the quarter ending June 30, 2015 will be between $0.28 and $0.29, and that its fully diluted earnings per share for the period will be between $0.04 and $0.05.

CubeSmart Seeks Acquisitions

CubeSmart (NYSE:CUBE) will consider acquisitions. CubeSmart is targeting $100 million to $150 million of acquisitions, excluding contracts related to joint venture development or purchase at completion of construction and issuance.

CubeSmart and CubeSmart, L.P. Enters into Third Amendment to Credit Agreement

On April 22, 2015, CubeSmart and CubeSmart, L.P., the limited partnership through which CubeSmart owns its assets and conducts its operations, entered into (i) a Third Amendment to Credit Agreement (the Third Amendment) with Wells Fargo Bank, National Association, as Administrative Agent and each of the lenders party to the Credit Agreement dated as of December 9, 2011 (as thereafter amended, the Credit Agreement) and (ii) a Fourth Amendment to Term Loan Agreement (the Fourth Amendment) with Wells Fargo Bank, National Association, as Administrative Agent and each of the lenders party to the Term Loan Agreement dated as of June 20, 2011 (as thereafter amended, the Term Loan Agreement). Capitalized terms used in the second paragraph herein shall have the meanings given in the Credit Agreement and capitalized terms used in the third paragraph herein shall have the meanings given in the Term Loan Agreement. Among other things, the Third Amendment (i) increases the aggregate amount of the Revolving Commitments from $300,000,000 to $500,000,000, (ii) extends the Termination Date for the Revolving Loans and Revolving Commitments from June 18, 2017 to April 22, 2020, (iii) increases the Swingline Commitment from $20,000,000 to $50,000,000, (iv) adjusts the Applicable Margin and Facility Fee with respect to Revolving Loans, and (v) amends the definition of Capitalization Rate and Development Property.

 

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CUBE Competitors

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Company Last Change
Cousins Properties Inc $9.84 USD -0.11
Hersha Hospitality Trust $6.43 USD -0.05
Lexington Realty Trust $9.41 USD -0.01
Pennsylvania Real Estate Investment Trust $22.84 USD -0.04
Sovran Self Storage Inc $91.28 USD +0.08
View Industry Companies
 

Industry Analysis

CUBE

Industry Average

Valuation CUBE Industry Range
Price/Earnings 100.0x
Price/Sales 10.3x
Price/Book 2.8x
Price/Cash Flow 24.2x
TEV/Sales 7.2x
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