CubeSmart raises midpoint of 2026 same-store revenue, NOI, and FFO guidance ranges
Company sees 2026 diluted EPS at $1.58 to $1.64 and FFO, as adjusted, at $2.54 to $2.60
CubeSmart expects Q3 diluted EPS of $0.40 to $0.42 and FFO, as adjusted, of $0.64 to $0.66
Result drivers
Rental rate increases - Co said higher rental rates in the same-store portfolio were the main driver of revenue growth
Operating expenses - Co said higher personnel expenses and property taxes drove the increase in property operating expenses
Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 11 "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 is $43.00, about 1.3% above its July 29 closing price of $42.43
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 25 three months ago
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