CubeSmart (N:CUBE)

Sector:  N/A Industry:  N/A
 
See Regulatory Filings on SEC
Company Contact
Address: 5 Old Lancaster Road
MALVERN PA 19355
Tel: 1-610-5355000
Website: https://www.cubesmart.com
IR: See website
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Key People
Christopher Paul Marr
President, Chief Executive Officer, Trustee 		Timothy M. Martin
Chief Financial Officer, Treasurer 		Joel D. Keaton
Chief Operating Officer
Matthew Denarie
Chief Accounting Officer, Senior Vice President 		Jeffrey P. Foster
Chief Legal Officer, Secretary 		 
Business Overview
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer climate-controlled storage space for residential and commercial customers. It owns its assets and conducts its operations through the CubeSmart, L.P. (Operating Partnership), and subsidiaries of the Operating Partnership. Its customers rent storage cubes for their exclusive use, on a month-to-month basis. Additionally, some of its stores offer outside storage areas for vehicles and boats. Its stores are designed to accommodate both residential and commercial customers, with features, such as wide aisles and load-bearing capabilities for large truck access. Its customers can access their storage cubes during business hours, and some of its stores provide customers with 24-hour access. It owns about 611 self-storage properties located in 24 states and in the district of Columbia, containing an aggregate of about 44.1 million rentable square feet.
Financial Overview
For the fiscal year ended 31 December 2023, CubeSmart revenues increased 4% to $1.05B. Net income increased 41% to $410.8M. Revenues reflect NAREIT FFO - Per Share - Diluted - Total increase of 9% to $2.7, Rental income increase of 4% to $912M, Other Property Related Income increase of 6% to $101.8M. Net income benefited from Net Operating Income (NOI)-Same-Store increase of 18% to $675M.
Employees: 3,040 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $12,485M as of Dec 31, 2023
Annual revenue (TTM): $1,050M as of Dec 31, 2023
EBITDA (TTM): $702.65M as of Dec 31, 2023
Net annual income (TTM): $410.76M as of Dec 31, 2023
Free cash flow (TTM): $106.64M as of Dec 31, 2023
Net Debt Last Fiscal Year: $2,982M as of Dec 31, 2023
Shares outstanding: 226,001,970 as of Mar 22, 2024
Index Membership: S&P 400 Mid Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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