CubeSmart | REIT Profile

Symbol: CUBE
CIK: 1298675
Exchange: NYSE
Founded: 2004 (18 years)
HQ: Malvern, PA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Self Storage
Internally Managed REIT

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See CUBE on SEC.gov

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About CubeSmart

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self storage facilities in the United States. Our self storage facilities are designed to offer affordable, easily accessible storage space for residential and commercial customers. As a national owner and operator, we continually enhance our business by applying our management expertise and best practices to each facility.


CubeSmart Company Logo

Stock Chart

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REITMovers


REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 3 minutes during normal trading hours. Note: All prices have a 15 minute delay.


Latest Price High Low Open Close Previous Close Volume Change $ Change % Market Cap PE Ratio 52W High 52W Low Ytd Change
$48.40 $48.98 $48.17 $48.18 $48.10 $48.10 433,686 $0.30 0.62% $10,862,791,214 45.66 $56.31 $38.29 -13.31%

Last update: 2022-08-09 09:54:07 PST

REITRating™ Trend


REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.

Overall REITRating Score: 8.9

Hightlights of Trading Day August 8, 2022


Open Price: $48.04
Closing Price: $48.1
Price Change: 0.56 (1.178%)
Lowest Price: $47.53
Highest Price: $48.79
52-Week Low: $38.29
52-Week High: $56.31
52-Week Change: -2.05%
5 Day Price Change: 3.64%
1 Month Price Change: 11.15%
3 Month Price Change: 8.78%
6 Month Price Change: -5.01%
YTD Price Change: -14.94%
1 Year Price Change: -2.05%
2 Year Price Change: 68.62%
5 Year Price Change: 135.22%

Dividend of Trading Day August 8, 2022


Dividend Yield: 3.576%*
Annualized Dividend: $1.72*
Dividend Yield (TTM): 3.385%
Annualized Dividend (TTM): $1.6094
Ex-Dividend Date: 2022-06-30
Next Ex-Dividend: 2022-09-30
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)



FFO Amount and Payout Ratio

Below are the FFO amounts, dividends, and payout ratios for the last two quarters for CUBE.

Year Quarter Type Amount Dividend Paid Payout Ratio
2022 Q1 FFO $--- $--- ---%
2022 Q1 AFFO $--- $--- ---%
2021 Q4 FFO $--- $--- ---%
2021 Q4 AFFO $--- $--- ---%

REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.


Funds From Operations (FFO)

Key Stats of Trading Day August 8, 2022


Total Cash: $7,890,000
Current Debt: $520,578,000
Revenue: $872,288,000
Gross Profit: $872,288,000
Total Revenue: $872,288,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $584,976,000
Revenue Per Share: $4
Revenue Per Employee: N/A
Employee: 3,111
Debt to Equity Ratio (D/E): 2.27
Profit Margin: 0.25%
Enterprise Value (EV): $13,473,990,491
Enterprise Value to Revenue (EV/R): 15.45
Price to Sales (P/S): 11.80
Price to Book (P/B): 3.62
Price/Earnings-to-Growth (PEG) Ratio: 2.27
P/E Ratio: 46.25
P/E High: 33.30
P/E Low: 25.50
Forward P/E Ratio: N/A
Market Capitalization: $10,795,459,864
Beta: 0.74
Latest Volume: 1,527,579
Avg. Total Volume: 1,148,452
Avg. 10-Day Volume: 1,462,946
Avg. 30-Day Volume: 1,148,452
TTM EPS: 1.04
Shares Outstanding: 224,437,835
Float: N/A
50-Day Moving Avg.: $43.23
200-Day Moving Avg.: $46.54

Latest REIT Community Comments on #CUBE


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Properties Owned by CUBE


CUBE Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website


Properties Based on Earnings Report's 10-K

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $31.04 per share you would have been able to buy 32 shares of CUBE on 2021-08-09 costing $993.28 @ $31.04 per share you would have been able to buy 16 shares of CUBE on 2021-08-09 costing $496.64 @ $31.04 per share you would have been able to buy 8 shares of CUBE on 2021-08-09 costing $248.32 @ $31.04 per share you would have been able to buy 3 shares of CUBE on 2021-08-09 costing $93.12 @ $31.04 per share you would have been able to buy 1 shares of CUBE on 2021-08-09 costing $31.04
Current worth On 2022-08-08 these 32 shares would be worth $1,539.20 @ $48.10 On 2022-08-08 these 16 shares would be worth $769.60 @ $48.10 On 2022-08-08 these 8 shares would be worth $384.80 @ $48.10 On 2022-08-08 these 3 shares would be worth $144.30 @ $48.10 On 2022-08-08 these 1 shares would be worth $48.10 @ $48.10
Dividends earned $52.16 in dividends would have been earned since 2021-08-09 with 32 shares. $26 in dividends would have been earned since 2021-08-09 with 16 shares. $13.04 in dividends would have been earned since 2021-08-09 with 8 shares. $4.89 in dividends would have been earned since 2021-08-09 with 3 shares. $1.63 in dividends would have been earned since 2021-08-09 with 16 shares.
Net (gain / loss)* 598.08 USD 299.04 USD 149.52 USD 56.07 USD 18.69 USD
ROI** 60.21% 60.21% 60.21% 60.21% 60.21%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by CUBE. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
CUBE 2022-06-30 0.430 --- 2022-05-17 2022-07-01 2022-07-15
CUBE 2022-03-31 0.430 --- 2022-02-23 2022-04-01 2022-04-18
CUBE 2021-12-31 0.430 26.47% 2021-11-02 2022-01-03 2022-01-18
CUBE 2021-09-30 0.340 --- 2021-07-27 2021-10-01 2021-10-15
CUBE 2021-06-30 0.340 --- 2021-05-12 2021-07-01 2021-07-15
CUBE 2021-03-31 0.340 --- 2021-02-23 2021-04-01 2021-04-15
CUBE 2020-12-31 0.340 3.03% 2020-12-08 2021-01-04 2021-01-15
CUBE 2020-09-30 0.330 --- 2020-07-29 2020-10-01 2020-10-15
CUBE 2020-06-30 0.330 --- 2020-05-12 2020-07-01 2020-07-15
CUBE 2020-03-31 0.330 --- 2020-02-19 2020-04-01 2020-04-15
CUBE 2019-12-31 0.330 3.13% 2019-12-12 2020-01-02 2020-01-15
CUBE 2019-09-30 0.320 --- 2019-07-23 2019-10-01 2019-10-15
CUBE 2019-06-28 0.320 --- 2019-05-14 2019-07-01 2019-07-15
CUBE 2019-03-29 0.320 --- 2019-02-19 2019-04-01 2019-04-15
CUBE 2018-12-31 0.320 6.67% 2018-12-13 2019-01-02 2019-01-15
CUBE 2018-09-28 0.300 --- 2018-08-07 2018-10-01 2018-10-15
CUBE 2018-06-29 0.300 --- 2018-05-30 2018-07-02 2018-07-16
CUBE 2018-03-29 0.300 --- 2018-02-13 2018-04-02 2018-04-16
CUBE 2017-12-29 0.300 11.11% 2017-12-14 2018-01-02 2018-01-16
CUBE 2017-09-29 0.270 --- 2017-07-25 2017-10-02 2017-10-16

Earnings Press Releases


Below are the Earnings Press Releases for CUBE. To see the complete Earnings Report please visit the sec.gov.

Year Quarter Title
2021 Q4 CubeSmart Reports 2021 Annual Results
2021 Q3 CubeSmart Reports Third Quarter 2021 Results

Financial Statements Overview


The next Earnings Report for CUBE is 2022-11-03

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Current Cash 7,890,000 11,140,000 20,332,000 3,989,000
Receivables 7,990,000 8,145,000 6,812,000 5,905,000
Inventory 0 0 0 0
Current Assets 41,075,000 31,753,000 53,939,000 38,106,000
Current Assets (Other) 21,871,000 10,290,000 25,615,000 28,212,000
Short Term Investments 21,871,000 10,290,000 25,615,000 28,212,000
Long-term Investments 6,420,466,000 6,516,326,000 4,782,115,000 4,733,126,000
Property, Plant & Equipment Net 6,102,102,000 6,097,670,000 4,526,494,000 4,510,039,000
Goodwill 0 0 0 0
Intangible Assets 79,488,000 108,794,000 19,258,000 29,930,000
Other Assets 9,653,000 25,760,000 9,577,000 12,794,000
Net Tangible Assets 2,767,584,000 2,762,769,000 1,906,695,000 1,816,594,000
Total Assets 6,461,541,000 6,548,079,000 4,836,054,000 4,771,232,000
Accounts Payable 0 0 0 0
Liabilities (Other) 0 0 0 0
Current Liabilities (Other) 335,178,000 335,611,000 284,081,000 281,733,000
Total Current Liabilities 520,578,000 335,611,000 284,081,000 306,333,000
Current Long-term Debt 185,400,000 0 0 24,600,000
Long-term Debt 3,001,517,000 3,211,586,000 2,266,915,000 2,267,449,000
Total Liabilities 3,614,469,000 3,676,516,000 2,910,101,000 2,924,708,000
Minority Interest 92,374,000 126,817,000 359,105,000 350,926,000
Common Stock 224,663,000 212,560,000 202,194,000 201,414,000
Retained Earnings -1,266,804,000 -1,218,498,000 -1,113,025,000 -1,116,596,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 2,847,072,000 2,871,563,000 1,925,953,000 1,846,524,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Total Revenue 238,565,000 221,912,000 212,564,000 199,247,000
Cost of Revenue 0 0 0 0
Gross Profit 238,565,000 221,912,000 212,564,000 199,247,000
Research and Development 0 0 0 0
Selling General and Admin 14,525,000 13,238,000 12,095,000 11,560,000
Operating Expense 167,355,000 145,679,000 131,215,000 129,134,000
Operating Income 71,210,000 76,233,000 81,349,000 70,113,000
Income Expense Net (Other) 0 0 0 0
EBIT 71,210,000 101,508,000 81,349,000 70,113,000
Interest Income 22,824,000 20,980,000 19,122,000 19,112,000
Pretax Income 38,266,000 46,563,000 90,569,000 50,366,000
Income Tax 0 0 0 0
Minority Interest 111,000 1,215,000 2,919,000 1,614,000
Net Income 38,155,000 45,348,000 87,650,000 48,752,000
Net Income Basic 38,155,000 45,348,000 87,650,000 48,752,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Net Income 38,155,000 45,348,000 87,650,000 48,752,000
Depreciation 83,514,000 73,338,000 56,883,000 55,151,000
Changes in Receivables 7,990,000 8,145,000 6,812,000 5,905,000
Changes in Inventories 0 0 0 0
Cash Change 7,890,000 11,140,000 20,332,000 3,989,000
Cash Flow 130,735,000 106,245,000 125,582,000 119,176,000
Capital Expenditures -15,540,000 -15,784,000 -71,090,000 -64,250,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -9,088,000 -1,722,719,000 -41,979,000 -67,438,000
Dividends Paid 0 0 0 0
Net Borrowings 3,157,156,000 3,190,156,000 2,220,968,000 2,259,848,000
Cash Flow Financing -124,502,000 1,569,722,000 -29,760,000 -51,503,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
10 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.7
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.7
9 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 8.7
9 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 7.2
Rating AFFO & Efficiency Section Avg. Rating
10 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 8.8
7 AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.8
8 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.0
6 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.5
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.5
9 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 6.9
10 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.6
8 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
6 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
9 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.2
Rating Asset & Revenue Section Avg. Rating
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 7.7
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.0
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.4
9 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.2
Rating Market Cap Section Avg. Rating
7 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 4.0
8.9 Overall REITRating™ Score (See trend) 6.1

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

REITProperty


Below are some of the properties owned by this CUBE. Please click on the property name to see more details. See complete list of properties.

Name Type Address City State
Huntsville Self Storage Storage 11580 Memorial Parkway Southwest Huntsville AL
Chandler Storage Storage 2414 South Gilbert Road Chandler AZ
Chandler Storage Storage 1919 East Ray Road Chandler AZ

Related REITs


REIT REITRating™ Score Exchange Market Capitalization Sector Country
Public Storage (PSA) 8.9 NYSE Large-Cap Self Storage United States
Extra Space Storage, Inc. (EXR) 8.7 NYSE Large-Cap Self Storage United States
Life Storage, Inc. (LSI) 8.2 NYSE Large-Cap Self Storage United States

Last updated: 2022-08-09 - v3.4