Overview

* CubeSmart ( CUBE ) Q2 net income falls to $83 mln, EPS declines to $0.36

* Adjusted FFO per diluted share rises 1.6% to $0.65

* Same-store NOI decreases 1.1% due to lower revenues, higher expenses

Outlook

* CubeSmart ( CUBE ) estimates 2025 diluted EPS between $1.44 and $1.50

* Company expects 2025 FFO per share between $2.54 and $2.60

* CubeSmart ( CUBE ) sees same-store NOI growth between -2.75% and -1.25%

Result Drivers

* STABILIZING FUNDAMENTALS - CEO Christopher Marr attributes performance to stabilizing fundamentals with reduced impact from new supply and improved seasonal pricing

* OCCUPANCY LEVELS - Same-store occupancy averaged 90.6% during the quarter, ending at 91.1%

* THIRD-PARTY EXPANSION - Added 30 stores to third-party management platform, totaling 873 stores

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $239.56

Rental mln

income

Q2 EPS $0.36

Q2 Net $82.43

Income mln

Q2 $148.90

Adjusted mln

FFO

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 12 "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 ( CUBE ) is $47.00, about 12.5% above its July 30 closing price of $41.12

* The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release:

(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.)