Overview

* CubeSmart ( CUBE ) 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 ( CUBE ) estimates 2025 EPS between $1.46 and $1.50

* CubeSmart ( CUBE ) 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/Mis Actual Consensu

s s

Estimate

Q3 $243.40

Rental mln

income

Q3 EPS $0.36

Q3 Net $82.41

Income mln

Q3 $149 mln

Adjusted

FFO

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 ( CUBE ) is $45.00, about 10.9% above its October 29 closing price of $40.08

Press Release:

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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.)