CubeSmart Q3 adjusted FFO declines

CubeSmart

30/10/2025 20:29

Overview

CubeSmart Q3 diluted EPS falls to $0.36, down from $0.44 last year

Adjusted FFO per share decreases 3% yr/yr to $0.65

Same-store NOI decreases 1.5% yr/yr due to revenue and expense changes

Outlook

CubeSmart estimates 2025 EPS between $1.46 and $1.50

CubeSmart expects 2025 FFO per share between $2.56 and $2.60

Company raises midpoint of 2025 same-store NOI growth guidance

Result Drivers

MARKET PERFORMANCE - Coastal and urban markets maintained strong performance, while sunbelt properties faced rate and occupancy trade-offs, per CEO Christopher P. Marr

SAME-STORE NOI DECLINE - Same-store NOI decreased 1.5% yr/yr due to a 1.0% decrease in revenues and a 0.3% increase in operating expenses

THIRD-PARTY MANAGEMENT EXPANSION - Added 46 stores to third-party management platform, bringing total to 863 stores

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Rental income
$243.40 mln
Q3 EPS
$0.36
Q3 Net Income
$82.41 mln
Q3 Adjusted FFO
$149 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for CubeSmart is $45.00, about 10.9% above its October 29 closing price of $40.08

Press Release: ID:nGNX6LPyZ9

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)