CubeSmart (CUBE) Bundle
A Brief History of CubeSmart (CUBE)
Company Overview
CubeSmart (NYSE: CUBE) is a self-storage real estate investment trust (REIT) headquartered in Malvern, Pennsylvania. Founded in 2004, the company operates and owns self-storage facilities across the United States.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $931.6 million |
| Net Income | $332.4 million |
| Total Assets | $6.4 billion |
| Market Capitalization | $8.2 billion |
Operational Metrics
- Total Number of Facilities: 622
- Total Rentable Square Feet: 45.2 million
- Geographic Presence: 40 states
- Occupancy Rate: 95.6%
Key Leadership
As of 2024, Christopher P. Marr serves as President and CEO. The company has a board of directors comprising experienced real estate and financial professionals.
Stock Performance
| Stock Metric | 2024 Value |
|---|---|
| Stock Price (February 2024) | $52.37 |
| Dividend Yield | 4.2% |
| Year-to-Date Return | 7.3% |
Recent Acquisitions
In 2023, CubeSmart completed strategic acquisitions totaling approximately $450 million, expanding its portfolio in key markets.
A Who Owns CubeSmart (CUBE)
Institutional Ownership
As of Q4 2023, CubeSmart (CUBE) institutional ownership stands at 87.74%.
| Top Institutional Shareholders | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 24,783,903 | 9.90% |
| BlackRock Inc. | 21,467,824 | 8.58% |
| Cohen & Steers Inc. | 16,912,115 | 6.76% |
Major Shareholders
- Public Float: 250,000,000 shares
- Insider Ownership: 0.62%
- Institutional Investors: 87.74%
Executive Ownership
| Executive | Position | Shares Owned |
|---|---|---|
| Timothy M. Martin | CEO | 401,762 |
| Joseph P. Margolis | Executive Vice Chairman | 215,345 |
CubeSmart (CUBE) Mission Statement
Company Overview
CubeSmart (NYSE: CUBE) is a self-storage real estate investment trust (REIT) headquartered in Malvern, Pennsylvania. As of Q4 2023, the company operates 637 self-storage facilities across 22 states.
Financial Performance
| Metric | 2023 Value |
|---|---|
| Total Revenue | $873.9 million |
| Net Operating Income | $545.2 million |
| Total Assets | $5.7 billion |
Mission Statement Components
- Provide high-quality self-storage solutions
- Deliver value to shareholders
- Maintain customer-centric service approach
Operational Metrics
| Metric | 2023 Performance |
|---|---|
| Total Stores | 637 |
| Stabilized Store Occupancy | 94.7% |
| Same-Store Revenue Growth | 5.6% |
Strategic Focus Areas
- Geographic Diversification
- Technology Integration
- Customer Experience Enhancement
Shareholder Information
| Metric | 2023 Data |
|---|---|
| Stock Price (as of Dec 31, 2023) | $41.75 |
| Market Capitalization | $4.6 billion |
| Dividend Yield | 4.2% |
How CubeSmart (CUBE) Works
Company Overview
CubeSmart is a publicly traded self-storage real estate investment trust (REIT) headquartered in Malvern, Pennsylvania. As of Q4 2023, the company operates 630 self-storage facilities across 39 states and Washington D.C.
Business Model
CubeSmart generates revenue through self-storage facility rentals, offering various unit sizes for personal and business storage needs.
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $1.15 billion |
| Net Operating Income | $815.6 million |
| Total Facilities | 630 |
Facility Types
- Traditional self-storage units
- Climate-controlled spaces
- Vehicle storage options
Geographic Presence
| Region | Number of Facilities |
|---|---|
| Northeast | 187 |
| Southeast | 156 |
| Southwest | 98 |
| West | 98 |
Ownership Structure
CubeSmart trades on NYSE under ticker CUBE. As of January 2024, market capitalization is approximately $9.2 billion.
Revenue Streams
- Monthly storage unit rentals
- Ancillary services
- Retail product sales
Operational Metrics
| Metric | 2023 Performance |
|---|---|
| Occupancy Rate | 94.7% |
| Average Monthly Rental Rate | $152.33 |
How CubeSmart (CUBE) Makes Money
Revenue Streams
CubeSmart generates revenue primarily through self-storage facility operations across the United States. As of Q4 2023, the company reported the following financial details:
| Total Revenue | $759.4 million |
| Same-Store Revenue | $706.3 million |
| Rental Income | $697.4 million |
| Ancillary Services Revenue | $61.9 million |
Storage Facility Income Sources
- Monthly Storage Unit Rentals
- Tenant Insurance Sales
- Merchandise Sales
- Truck Rental Commissions
Facility Portfolio Details
CubeSmart operates:
| Total Facilities | 669 |
| Owned Facilities | 551 |
| Managed Facilities | 118 |
| Total Rentable Square Feet | 46.7 million |
Occupancy and Rental Rates
As of Q4 2023, CubeSmart reported:
| Same-Store Occupancy Rate | 94.7% |
| Average Monthly Rental Rate | $152.33 |
Geographic Distribution
- Operating in 40 U.S. states
- Concentrated in urban and suburban markets
- Highest presence in California, Texas, Florida
Financial Performance
| Net Operating Income | $437.2 million |
| Funds from Operations (FFO) | $474.3 million |
CubeSmart (CUBE) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.