Financial Data and Key Metrics Changes - Same-store revenue growth for Q4 2025 was nearly flat at -0.1%, indicating stabilization in trends [11] - Funds from Operations (FFO) per share for the quarter was reported at $0.64, with a 1.9% increase in quarterly dividend to an annualized $2.12 per share, representing a 5.3% dividend yield [12] - Same-store expenses grew by 2.9% during Q4, influenced by real estate taxes and property insurance, offset by increases in marketing and repairs [11][12] Business Line Data and Key Metrics Changes - The occupancy gap improved to 88.7% by the end of January 2026, narrowing from year-end 2025, with positive move-in rates continuing into early 2026 [8][9] - Over 75% of the top 25 markets experienced revenue growth acceleration from Q3 to Q4 2025, with core urban markets in the Northeast and Midwest outperforming [9] Market Data and Key Metrics Changes - Only 19% of same-store assets are projected to face new supply impacts in 2026, the lowest percentage since 2017, indicating a declining competitive supply environment [10][17] - The company noted that demand patterns have stabilized, with consistent move-in rates improving from -10% in Q4 2024 to +2.8% in Q4 2025 [7][9] Company Strategy and Development Direction - The company is focused on capital allocation strategies, including a new joint venture with CBRE IM for $250 million to invest in high-growth markets [13] - The management team emphasizes maintaining a high-quality portfolio and is prepared to address challenges while maximizing opportunities through 2026 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in 2026, citing improved operating fundamentals and a more constructive environment for demand [5][9] - The company anticipates gradual improvement in financial results, with expectations for FFO per share in 2026 ranging from $2.52 to $2.60 [16][17] Other Important Information - The company executed share repurchases during Q4 2025, with an expanded authorization allowing for approximately $475 million in capacity based on current valuations [15] - The balance sheet remains strong, with leverage at 4.8x net debt to EBITDA, and plans to potentially access the bond market in 2026 [16] Q&A Session Summary Question: Supply impact on revenue - Management clarified that the 19% of stores impacted by supply in 2026 refers to those competing against new deliveries from 2024 to 2026, indicating a lessening headwind compared to previous years [21][23] Question: Lawsuit in New York - Management acknowledged awareness of the lawsuit regarding predatory practices and emphasized compliance and customer experience focus [25] Question: Operating expenses outlook - Management noted that real estate taxes and weather-related costs are significant drivers of expected expense growth in 2026 [30] Question: Move-in rates assumptions - Management indicated that while they do not guide specific components, they expect steady improvement in occupancy and revenue growth throughout 2026 [36] Question: New York market performance - Management expects New York to continue being a top-performing market in 2026, driven by recovery from supply headwinds and strong demand trends [44] Question: Share buybacks versus acquisitions - Management discussed the balance between share repurchases and potential acquisitions, emphasizing the need for compelling opportunities to drive shareholder value [48][78] Question: Dispositions and asset management - Management indicated a fluid discussion regarding asset dispositions, focusing on maintaining portfolio quality while exploring joint venture opportunities [70]

Financial Data and Key Metrics Changes - The same-store revenue growth for Q4 2025 was negative 0.1%, indicating stabilization compared to previous quarters [11] - Funds from Operations (FFO) per share for the quarter was reported at $0.64, with a 1.9% increase in the quarterly dividend to an annualized $2.12 per share, representing a 5.3% dividend yield [12] - The leverage ratio ended the year at 4.8x net debt to EBITDA, indicating a strong balance sheet [16] Business Line Data and Key Metrics Changes - The occupancy gap improved to 88.7% by the end of January 2026, narrowing from year-end 2025 [8] - Move-in rates showed significant improvement, turning positive at +2.8% in Q4 2025, compared to -10% in Q4 2024 [7] - Over 75% of the top 25 markets experienced revenue growth acceleration from Q3 to Q4 2025 [9] Market Data and Key Metrics Changes - Core urban markets in the Northeast and Midwest outperformed, while supply-impacted markets in the Sun Belt and West Coast began to show improvement [5][9] - Only 19% of same-store assets are projected to face new supply impacts in 2026, the lowest percentage since 2017 [10] Company Strategy and Development Direction - The company aims to return to growth in 2026, focusing on stabilizing fundamentals and improving operating metrics [5] - A new joint venture with CBRE IM was announced, with a $250 million mandate to invest in high-growth markets [13] - The company is considering share repurchases as a strategic option to enhance shareholder value amid disconnected public and private market valuations [15][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to historical revenue growth levels, expecting gradual improvement throughout 2026 [9][39] - The company is focused on expense controls, having led the sector in the lowest expense growth over the past several years [18] - Management acknowledged the potential impact of economic conditions, including layoffs, on demand for self-storage services, but emphasized the resilience of the business model [56][99] Other Important Information - The company executed share repurchases during Q4 2025, with an expanded authorization allowing for approximately $475 million in capacity [15] - The company is exploring opportunities to sell or contribute assets to joint ventures to fund additional share repurchases if valuation gaps persist [16][70] Q&A Session Summary Question: How does the company view supply impacts? - The company assesses supply impacts over a three-year rolling period, with 19% of stores impacted in 2026, reflecting deliveries from 2024 to 2026 [21][23] Question: How is the company responding to the lawsuit in New York? - The company is monitoring the situation and remains focused on compliance and providing optimal customer experiences [25] Question: What is driving the higher operating expenses outlook? - Key drivers include real estate taxes and weather-related costs, with personnel costs expected to rise slightly above inflation [30] Question: What is the outlook for move-in rates? - Management expects steady improvement in move-in rates, with a focus on maximizing revenue from existing customers [36][62] Question: How does the company view its portfolio and potential dispositions? - The company is open to trading assets to enhance portfolio quality and may consider joint ventures for non-core assets [69][70]

Financial Data and Key Metrics Changes - The company reported same-store revenue growth of negative 0.1% for the fourth quarter, indicating stabilization compared to previous quarters [10] - Funds from Operations (FFO) per share was reported at $0.64 for the quarter, with a 1.9% increase in the quarterly dividend to an annualized $2.12 per share, representing a 5.3% dividend yield [11] - Leverage ended the year at 4.8x net debt to EBITDA, indicating a strong balance sheet [14] Business Line Data and Key Metrics Changes - The company experienced a positive trend in move-in rates, improving from -10% in Q4 2024 to +2.8% in Q4 2025 [5] - Same-store expenses grew by 2.9% in Q4, influenced by real estate taxes and property insurance, offset by increases in marketing and repairs [10] - Over 75% of the top 25 markets saw revenue growth accelerate from Q3 to Q4 2025 [8] Market Data and Key Metrics Changes - The occupancy gap improved to 88.7% by the end of January 2026, narrowing from year-end levels [6] - Only 19% of same-store assets are projected to face new supply impacts in 2026, the lowest percentage since 2017 [9] - The Northeast and Midwest urban markets continue to outperform, while Sun Belt and West Coast markets are beginning to show improvement [4][7] Company Strategy and Development Direction - The company is focused on capital allocation strategies, including a new joint venture with CBRE IM for $250 million to invest in high-growth markets [12] - The management team emphasizes maintaining a high-quality portfolio and is open to asset dispositions or joint ventures to enhance shareholder value [14][68] - The company aims to return to historical revenue growth levels by addressing occupancy gaps and improving pricing strategies [8][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in 2026, citing stabilized fundamentals and improved operating metrics [4] - The company anticipates gradual improvement in financial results, with expectations for FFO per share in 2026 ranging from $2.52 to $2.60 [14] - Management acknowledged the impact of external factors such as weather-related costs and inflation on operating expenses [28] Other Important Information - The company executed share repurchases during the quarter, with an expanded authorization allowing for approximately $475 million in capacity [13] - The management team is actively monitoring legislative changes affecting pricing and transparency in the self-storage market [22] Q&A Session Summary Question: Can you discuss the supply situation and its impact? - Management clarified that the 19% of stores impacted by supply in 2026 refers to those competing against new deliveries from 2024 to 2026, indicating a lessening impact compared to previous years [19][20] Question: How is the lawsuit in New York affecting operations? - The company is aware of the lawsuit and is focused on compliance and providing optimal customer experiences [22][23] Question: What is driving the higher operating expenses compared to peers? - Management noted that real estate taxes and weather-related costs are significant drivers of expense growth, alongside inflationary pressures on personnel costs [28] Question: What is the outlook for move-in rates? - Management expects steady improvement in move-in rates, with a focus on maximizing customer value rather than just volume [35][60] Question: Can you elaborate on the joint venture with CBRE? - The joint venture is aimed at investing in core plus and value-add opportunities in high-growth markets, with the potential for future collaborations [29][30] Question: How does the company view share buybacks versus acquisitions? - Management indicated that while share buybacks are attractive, they remain open to acquisitions if compelling opportunities arise [46][78] Question: What is the outlook for the New York MSA? - Management expects New York to continue being a top-performing market, benefiting from recovering supply headwinds and strong demand trends [42][43]

分组1 - CubeSmart reported quarterly funds from operations (FFO) of $0.64 per share, missing the Zacks Consensus Estimate of $0.66 per share, and down from $0.68 per share a year ago, representing an FFO surprise of -2.75% [1] - The company posted revenues of $282.69 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.79%, compared to year-ago revenues of $231.41 million [2] - CubeSmart shares have increased approximately 10.2% since the beginning of the year, outperforming the S&P 500's gain of 1.5% [3] 分组2 - The current consensus FFO estimate for the coming quarter is $0.64 on revenues of $280.38 million, and for the current fiscal year, it is $2.61 on revenues of $1.15 billion [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the bottom 38% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8] - The estimate revisions trend for CubeSmart was unfavorable ahead of the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6]

Core Insights - CubeSmart (CUBE) reported a revenue of $282.69 million for the quarter ended December 2025, marking a year-over-year increase of 22.2% and a surprise of +0.79% over the Zacks Consensus Estimate of $280.47 million [1] - The earnings per share (EPS) for the same period was $0.64, compared to $0.45 a year ago, although it fell short of the consensus EPS estimate of $0.66, resulting in an EPS surprise of -2.75% [1] Financial Performance Metrics - Property management fee income was reported at $9.64 million, which is below the three-analyst average estimate of $10.16 million, reflecting a year-over-year decline of -7.3% [4] - Rental income reached $240.93 million, slightly below the $243.88 million average estimate based on two analysts, but showed a year-over-year increase of +5.6% [4] - Other property-related income was reported at $32.13 million, exceeding the two-analyst average estimate of $30.87 million, with a year-over-year change of +10.4% [4] - Net Earnings Per Share (Diluted) was $0.35, compared to the two-analyst average estimate of $0.37 [4] Stock Performance - CubeSmart's shares have returned +7.1% over the past month, outperforming the Zacks S&P 500 composite's +0.6% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

MALVERN, Pa., Feb. 26, 2026 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and twelve months ended December 31, 2025. “Recent results reinforce our view that we have reached an inflection point as strengthening operating fundamentals are starting to flow through to our key financial metrics,” commented President and Chief Executive Officer Christopher P. Marr. “We are increasingly optimistic that 2026 will build on this momentum, driving improving topline grow ...

MALVERN, Pa., Feb. 24, 2026 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) announced today that its Board of Trustees declared a quarterly dividend of $0.53 per common share for the period ending March 31, 2026. The dividend is payable on April 15, 2026 to common shareholders of record on April 1, 2026. About the Company CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,510 self-storage properties across the United States. According to the 2025 Self Sto ...

Wall Street analysts expect CubeSmart (CUBE) to post quarterly earnings of $0.66 per share in its upcoming report, which indicates a year-over-year decline of 2.9%. Revenues are expected to be $280.47 million, up 21.2% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company reveals its earnings, it is vital to take into ...

American Tower (AMT) came out with quarterly funds from operations (FFO) of $2.63 per share, beating the Zacks Consensus Estimate of $2.54 per share. This compares to FFO of $2.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of +3.63%. A quarter ago, it was expected that this wireless communications infrastructure company would post FFO of $2.62 per share when it actually produced FFO of $2.78, delivering a surprise of +6.11%.Over ...

Core Viewpoint - Enterprise Products Partners (EPD) is highlighted as a significant player in the midstream energy sector, showcasing a strong distribution yield and a long history of increasing distributions, despite facing challenges in free cash flow coverage due to elevated capital expenditures [1]. Financial Performance - EPD achieved a distributable cash flow (DCF) coverage ratio of 1.8x in Q4 2025, with operational DCF amounting to $2.16 billion [1]. - The annual distribution stands at $2.20 per unit, yielding approximately 6% [1]. - The earnings payout ratio for Q4 is around 73%, which is considered elevated but manageable for a capital-intensive partnership [1]. - Full-year adjusted cash flow from operations reached a record $8.7 billion in 2025, indicating strong operational performance [1]. Distribution History - EPD has increased its distributions for over 26 consecutive years, with the most recent increase being 3.8% year-over-year for Q1 2026 [1]. - The five-year compound annual growth rate (CAGR) for distributions is approximately 3.5% to 4%, reflecting a consistent but not explosive growth pattern [1]. Capital Expenditures and Future Outlook - Free cash flow coverage for 2024 was reported at 0.79x due to high capital expenditures, but management anticipates a significant improvement in discretionary free cash flow to about $1 billion in 2026 [1]. - EPD is currently investing heavily in projects such as the Bahia NGL Pipeline and Permian processing expansion, which are expected to enhance future cash flows [1]. Leverage and Debt Management - As of December 31, 2025, EPD's total debt principal was $34.7 billion, with a net debt-to-EBITDA ratio of 3.3x, which is above the target but manageable [1]. - The company maintains a solid liquidity position with $5.2 billion in consolidated liquidity and approximately 98% of its debt at a fixed rate, insulating it from interest rate fluctuations [1].