Who Owns Cubesmart

CubeSmart (CUBE) Information

A Brief History of CubeSmart (CUBE)

CubeSmart (CUBE) is a self-storage company based in Malvern, Pennsylvania. The company was founded in July 2004, initially under the name U-Store-It Trust, as a real estate investment trust (REIT) that focused on the acquisition, development, ownership, and management of self-storage facilities.

You are viewing: Who Owns Cubesmart

In 2007, the company changed its name to CubeSmart (CUBE) and started using the CubeSmart brand name for all of its self-storage facilities. The company went public in November 2004 and started trading on the New York Stock Exchange (NYSE) under the symbol CUBE.

Since its inception, CubeSmart (CUBE) has grown through strategic acquisitions and new developments. The company has acquired over 550 properties since 2004, and it continues to expand its presence in major metropolitan areas around the United States.

In 2019, CubeSmart (CUBE) was recognized as one of the Fortune 100 Best Companies to Work For, ranking 81st on the list. The company has also received numerous awards for its commitment to sustainability, including the ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) for three consecutive years.

As of 2021, CubeSmart (CUBE) operates over 1,200 self-storage facilities across the United States, offering a variety of storage options to meet the needs of both residential and commercial customers.

• 2004: U-Store-It Trust was founded in July.
• 2007: U-Store-It Trust changed its name to CubeSmart.
• 2019: CubeSmart was recognized as one of the Fortune 100 Best Companies to Work For.
• 2021: CubeSmart operates over 1,200 self-storage facilities across the United States.

Who Owns CubeSmart (CUBE)?

Read more : Who Got Married At St Patrick’s Cathedral Nyc

CubeSmart is a publicly traded company that is listed on the New York Stock Exchange. As a result, the ownership of the company is spread across a large number of shareholders. As of March 2021, the company had a market capitalization of approximately $11.9 billion.

While there is no single owner of CubeSmart, there are a number of institutional investors and mutual funds that own a significant percentage of the company’s outstanding shares. According to the most recent data available, the top institutional shareholders of CubeSmart are:

• The Vanguard Group, Inc.: This mutual fund company owns approximately 20% of CubeSmart’s outstanding shares.
• BlackRock, Inc.: This investment management company owns approximately 12% of CubeSmart’s outstanding shares.
• State Street Corporation: This financial services company owns approximately 6% of CubeSmart’s outstanding shares.
• T. Rowe Price Associates, Inc.: This investment management company owns approximately 5% of CubeSmart’s outstanding shares.

In addition to these institutional investors, there are also a number of individual retail investors who own shares of CubeSmart through their brokerage accounts.

It is worth noting that CubeSmart has a board of directors that oversees the company’s operations and strategy. The board is composed of a mix of independent directors and executives from the company.

Overall, CubeSmart is a widely held company with no single owner or controlling stakeholder.

CubeSmart (CUBE) Mission Statement

The mission statement of CubeSmart is as follows:

“Our mission is to simplify the lives of our customers by providing an exceptional self-storage experience. We are committed to providing superior service, making it easy to find the right storage solution to meet our customers’ needs, and providing peace of mind that their belongings are safe and secure.”

Read more : Who Owns Rock City

CubeSmart’s commitment to their customers is highlighted through their mission statement. Some of the important points to note from the statement include:

• Their focus on simplifying the lives of their customers
• Their emphasis on providing an exceptional self-storage experience
• Their commitment to superior service
• Their dedication to helping customers find the right storage solution to meet their needs
• Their promise of ensuring the safety and security of customers’ belongings

Overall, CubeSmart’s mission statement showcases their dedication to providing excellent service to their customers while ensuring that their belongings are well taken care of.

How CubeSmart (CUBE) Works

CubeSmart (CUBE) is a self-storage real estate investment trust (REIT) that operates as a fully integrated and self-administered company. It owns and operates over 1,200 self-storage facilities in 39 states in the United States.

The company’s business operates on a lease-up model. It seeks to operate its facilities with a high occupancy rate while constantly seeking growth potential in new markets. CubeSmart’s customer base consists of both individual and business customers who need extra storage.

• Real Estate Investment Trust (REIT) Structure: CubeSmart operates as a REIT, which means it must payout at least 90% of its taxable income to shareholders annually through dividends. The company is structured as a fully integrated and self-administered organization.
• Property Acquisition and Management: CubeSmart acquires self-storage properties through a combination of joint ventures, partnerships, and third-party acquisitions. The company retains full management control over the facilities it operates, employing a team of professionals to oversee leasing, development, and operations.
• Marketing and Leasing: CubeSmart’s marketing efforts are focused on attracting local customers who need extra storage space. The company uses digital and traditional marketing channels to promote its facilities, including social media, search engine marketing, print ads, and billboards. Once customers contact CubeSmart, they are typically shown the available storage units and offered leasing options that fit their storage needs.
• Facility Operations and Maintenance: CubeSmart’s operations team is responsible for maintaining the facilities, ensuring security, and providing customer service. The company invests in security systems, monitoring equipment, and other technology to protect its customers’ belongings. Facilities are staffed with trained professionals who can assist customers and respond to emergencies.

In summary, CubeSmart operates as a self-storage REIT that acquires, develops, and operates its facilities. The company’s focus is on maintaining high occupancy rates, growing its customer base, and providing exceptional customer service. CubeSmart’s integrated structure allows it to retain full control over its facilities as it seeks new growth opportunities in the self-storage industry.

How CubeSmart (CUBE) Makes Money

CubeSmart (CUBE) is a real estate investment trust (REIT) that operates self-storage facilities across the United States. The primary way CubeSmart makes money is by leasing out storage units to customers.

• Storage Unit Rentals: CubeSmart generates revenue by renting out storage units to individuals and businesses. Customers typically pay a monthly fee for their storage space, and CubeSmart collects the revenue.
• Ancillary Services: CubeSmart also offers customers additional services such as insurance coverage for their stored items, moving truck rental, and packing supplies. These additional services generate an additional source of revenue for the company.
• Management Contracts: CubeSmart manages self-storage facilities for third-party owners. In exchange for their services, CubeSmart earns a management fee as a percentage of the facility’s gross revenue.
• Property Sales: CubeSmart also has a program where they sell off properties that no longer fit their long-term plans. The company generates cash from these sales which can be used for future investments and expansion.
• Property Acquisitions: CubeSmart acquires new self-storage facilities by purchasing existing properties, developing new facilities, or entering into joint ventures with other companies.

Overall, CubeSmart earns revenue from a combination of property rentals, ancillary services, management contracts, property sales, and property acquisitions. The company’s diversified revenue streams help to reduce risk and provide long-term growth potential for investors.

Source: https://t-tees.com
Category: WHO