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LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Medical Properties Trust, Inc. (“Medical Properties” or the “Company”) (NYSE: MPT) on behalf of investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON MEDICAL PROPERTIES TRUST, INC. (MPT), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.

What Is The Investigation About?

On March 10, 2026, Medical Properties issued a statement regarding its third-largest tenant, Healthcare Systems of America (“HAS”) stating that the Company had “sent certain ordinary course legal notices to HSA intended to protect [its] legal interests.”

HSA accounts for around 8% of the Company’s total assets. HSA is also currently engaged in competing lawsuits between two rivaling managers accusing each other of financial mismanagement and other misdeeds. This statement came shortly after Medical Properties declared a default on several of the eight properties it rents to HSA.

On this news, Medical Properties’ stock price fell $0.42, or 8.02%, to close at $4.84 per share on March 11, 2026, thereby injuring investors.

Contact Us To Participate or Learn More:

If you purchased Medical Properties securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Email us at: [email protected]
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

More News From The Law Offices of Frank R. Cruz

Medical Properties Trust (MPW) remains a 'strong buy' as operational recovery accelerates and tenant issues are largely resolved. MPW's re-tenanting efforts and new leases are driving rent growth, with annualized cash rent targeted at $1 billion by year-end. Despite high net leverage (9x), MPW trades at an attractive 11.9x EV/EBITDA, well below peers, implying significant upside potential.

Medical Properties Trust (MPW) is trading at 68% of book value, with a 7% dividend yield fully covered by NFFO. MPW's $1.12 billion in contractual base rent is already on the books, with 85.9% locked in past 2035, supporting income durability. Recent real estate sales and financings validate MPW's asset base, countering the narrative that it overpaid for hospital properties.

Service Properties Trust (NASDAQ: SVC - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Investors acquired 5,000 put options on the company. This represents an increase of 523% compared to the typical volume of 803 put options. Service Properties Trust Stock Down 4.3% Shares of NASDAQ SVC opened at $2.00

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NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that it has commenced a $500.0 million underwritten public offering of its common shares of beneficial interest. SVC expects to use the net proceeds of this proposed offering to redeem all or a portion of the $100.0 million principal amount outstanding of its 4.95% senior notes due 2027 and/or the $450.0 million principal amount outstanding of its 5.50% senior notes due 2027. It is contemplated that the underwriters will also be granted a 30-day option to purchase up to an additional 15% of the number of common shares to be issued and sold in the proposed offering at the public offering price, less underwriting discounts and commissions.

Helix Partners (Helix) and The RMR Group (Nasdaq: RMR), SVC’s manager, have provided indications of interest to purchase up to $100.0 million and $50.0 million, respectively, of common shares in the proposed offering at the public offering price. In addition, SVC’s President and Chief Executive Officer and its Chief Financial Officer and Treasurer, as well as certain members of SVC’s Board of Trustees, have provided indications of interest to purchase common shares in the offering at the public offering price. Because these indications of interest are not binding agreements or commitments to purchase, any of these investors may determine to purchase more, fewer or no common shares in the proposed offering, or the underwriters may determine to sell more, fewer or none of our common shares to any of these investors.

In connection with the proposed offering, SVC will expand the size of the Board of Trustees to add an Independent Trustee with hotel experience in the near term, which is intended to enhance governance as SVC seeks to improve the performance of its hotel portfolio. Moreover, the entire SVC Board of Trustees is committed to maximizing shareholder value through thoughtful capital allocation between and amongst SVC’s hotel and net lease retail real estate portfolios, as SVC continues to transition its portfolio to be more focused on net lease retail real estate in the future.

Yorkville Securities is acting as lead bookrunner and Jones is acting as bookrunning manager of the proposed offering.

The offering is being made pursuant to SVC’s effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), including the base prospectus therein. A preliminary prospectus supplement relating to the offering is being filed with the SEC. When available, a copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained by contacting Yorkville Securities, LLC at [email protected] or JonesTrading Institutional Services LLC at [email protected] or by visiting the EDGAR database on the SEC's web site at www.sec.gov.

This press release is neither an offer to sell nor a solicitation of an offer to buy common shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Service Properties Trust

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust with approximately $10 billion invested in two asset categories: service-focused retail net lease properties and hotels. As of December 31, 2025, SVC owned 760 service-focused retail net lease properties with over 13.6 million square feet throughout the United States. As of December 31, 2025, SVC also owned 94 hotels with over 21,000 guest rooms throughout the United States and in Puerto Rico and Canada. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of December 31, 2025, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA.

WARNING REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon SVC’s present intent, beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond SVC’s control. For example:

Although this press release refers to an offering of $500.0 million of its common shares, greater or less than $500.0 million of common shares may be sold or this proposed offering may be withdrawn and the number of common shares ultimately issued will be dependent on various factors, including the public offering price. If SVC agrees to sell common shares in the proposed offering, the closing of the proposed offering will be subject to various conditions and contingencies as are customary in underwriting agreements in the United States. If these conditions are not satisfied or the specified contingencies do not occur, the sale of the common shares may not close. This press release states that SVC expects to use the net proceeds from the proposed offering to redeem all or a portion of its 4.95% senior notes due 2027 and/or 5.50% senior notes due 2027. However, the receipt and use of the proceeds is dependent on the completion of the proposed offering and may not occur and the amount of net proceeds may not be sufficient to redeem all notes. Although SVC expects to expand the size of the Board of Trustees to add an Independent Trustee with hotel experience in the near term, it may not be successful in finding or electing a suitable candidate and the nomination of any new Trustee is subject to the approval of the Trust’s Nominating and Governance Committee and the Board of Trustees, and even if a new Trustee is elected, SVC may not improve the performance of its hotel portfolio, maximize shareholder value through thoughtful capital allocation between and amongst SVC’s hotel and net lease retail real estate portfolios or further transition its portfolio to be more focused on net lease retail real estate in the future. This press release states that SVC contemplates that the underwriters will be granted an option to purchase up to an additional 15% of the number of common shares to be issued in the proposed offering. An implication of this statement may be that this option may be exercised in whole or in part. In fact, SVC does not know whether the underwriters would exercise this option, or any part of it. The information contained in SVC’s filings with the SEC, including under the caption “Risk Factors” in SVC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from SVC’s forward-looking statements. SVC’s filings with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

More News From Service Properties Trust

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SVC faces severe refinancing risk as it navigates upcoming debt maturities. SVC's $500 million equity issuance at all-time low share prices signals an inability to refinance debt through traditional channels. Leverage ratios have deteriorated, with interest coverage at 1.5x and net debt to EBITDAre near 10x, raising bankruptcy risk.

Posted by Defense World Staff on Apr 7th, 2026

Service Properties Trust (NASDAQ:SVC – Get Free Report) saw some unusual options trading activity on Monday. Stock traders acquired 8,089 call options on the stock. This represents an increase of approximately 366% compared to the average daily volume of 1,734 call options.

Insider Buying and Selling In other Service Properties Trust news, Director Adam D. Portnoy acquired 41,666,666 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were acquired at an average price of $1.20 per share, with a total value of $49,999,999.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donna D. Fraiche acquired 83,333 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was acquired at an average cost of $1.20 per share, for a total transaction of $99,999.60. Following the transaction, the director owned 182,013 shares of the company’s stock, valued at $218,415.60. This represents a 84.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 41,914,999 shares of company stock valued at $50,297,999. 1.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Service Properties Trust Hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its stake in Service Properties Trust by 16.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,965,472 shares of the real estate investment trust’s stock valued at $8,036,000 after purchasing an additional 420,785 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Service Properties Trust in the 3rd quarter valued at about $63,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Service Properties Trust by 8.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 179,103 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 14,133 shares during the last quarter. Inspire Investing LLC acquired a new stake in Service Properties Trust in the 3rd quarter valued at about $461,000. Finally, State of Alaska Department of Revenue raised its position in shares of Service Properties Trust by 34.8% in the fourth quarter. State of Alaska Department of Revenue now owns 100,281 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 25,884 shares during the period. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Service Properties Trust Here are the key news stories impacting Service Properties Trust this week:

Positive Sentiment: Large director insider buys — Director Donna D. Fraiche purchased 83,333 shares (avg $1.20) and Director Rajan Penkar bought 10,000 shares in early April; both filings signal management conviction and were sizeable relative to recent trading. Donna Fraiche SEC Filing Rajan Penkar SEC Filing Positive Sentiment: CFO and multiple insiders buying — Additional insider purchases (including a CFO buy ~ $66k) and an InsiderTrades piece highlighting large insider accumulation (three insiders buying nearly 42M shares collectively) reinforce the message that insiders view current prices as attractive. CFO Purchase InsiderTrades: SVC Positive Sentiment: B. Riley upgrade — A recent upgrade by B. Riley provides sell‑side support that can attract buyers and short‑covering at these low price levels. B. Riley Upgrade Positive Sentiment: Unusually large call‑option volume — Traders bought ~8,089 SVC calls (≈366% above typical daily call volume), suggesting speculative bullish positioning that can amplify intraday upside if momentum builds. (Source: options activity report) Neutral Sentiment: Extremely heavy trading volume and volatility — The name is trading with very high volume vs. its average, which magnifies price moves in both directions and means short-term swings may be driven more by flows than fundamentals. Negative Sentiment: Pre‑market weakness — SVC dropped in pre‑market trade (reported ≈4% lower in early futures session), reflecting either profit‑taking or short‑term bearish order flow that can weigh on the open. Benzinga Pre‑Market Negative Sentiment: Weak fundamentals / capital structure risk — SVC trades at low absolute prices with a high debt‑to‑equity ratio and constrained liquidity metrics, which raises downside risk if travel/asset‑sale catalysts don’t materialize. Analyst Ratings Changes A number of brokerages have recently commented on SVC. Wall Street Zen raised shares of Service Properties Trust from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Wells Fargo & Company cut their price objective on shares of Service Properties Trust from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Service Properties Trust in a research report on Thursday, January 22nd. Zacks Research lowered shares of Service Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, B. Riley Financial raised shares of Service Properties Trust from a “neutral” rating to a “buy” rating and set a $2.00 price objective on the stock in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.00.

Read Our Latest Report on Service Properties Trust

Service Properties Trust Stock Performance NASDAQ SVC opened at $1.31 on Tuesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 5.00. The firm’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $2.06. Service Properties Trust has a 1 year low of $1.13 and a 1 year high of $3.08. The firm has a market capitalization of $220.16 million, a P/E ratio of -1.08 and a beta of 1.60.

Service Properties Trust (NASDAQ:SVC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.16. The firm had revenue of $397.45 million for the quarter, compared to analyst estimates of $394.32 million. Service Properties Trust had a negative net margin of 11.15% and a negative return on equity of 29.70%. Service Properties Trust has set its FY 2026 guidance at 0.650-0.770 EPS.

Service Properties Trust Announces Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, January 26th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, January 26th. Service Properties Trust’s dividend payout ratio (DPR) is -3.31%.

About Service Properties Trust (Get Free Report)

Service Properties Trust (NASDAQ: SVC) is a real estate investment trust (REIT) specializing in the acquisition, ownership and leasing of service-oriented properties, with a primary focus on the lodging sector. The company structures long-term, triple-net leases with established hotel operators under franchise agreements with leading global brands. By partnering with recognized hotel companies, Service Properties Trust seeks to generate a stable income stream through rent payments, while offering operators the capital and balance-sheet flexibility to grow their portfolios.

Since its formation in 2010, Service Properties Trust has grown its portfolio through strategic sale-leaseback transactions, targeted property acquisitions and selective dispositions.

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NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that it will issue a press release containing its first quarter 2026 results after the Nasdaq closes on Wednesday, May 6, 2026. On Thursday, May 7, 2026 at 10:00 a.m. Eastern Time, President and Chief Executive Officer Christopher Bilotto, Chief Financial Officer and Treasurer Brian Donley and Vice President Jesse Abair will host a conference call to discuss these results.

The conference call telephone number is (877) 329-3720. Participants calling from outside the United States and Canada should dial (412) 317-5434. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Thursday, May 14, 2026. To hear the replay, dial (855) 669-9658. The replay pass code is 1683910.

A live audio webcast of the conference call will also be available in a listen-only mode on the company’s website, which is located at www.svcreit.com. Participants wanting to access the webcast should visit the company’s website about five minutes before the call. The archived webcast will be available for replay on the company’s website after the call.

About Service Properties Trust

SVC is a real estate investment trust with approximately $10 billion invested in two asset categories: service-focused retail net lease properties and hotels. As of December 31, 2025, SVC owned 760 service-focused retail net lease properties with over 13.6 million square feet throughout the United States. As of December 31, 2025, SVC also owned 94 hotels with over 21,000 guest rooms throughout the United States and in Puerto Rico and Canada. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of December 31, 2025, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit www.svcreit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

More News From Service Properties Trust

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April 23, 2026  

Bridge Plus was designed for rare, life-threatening emergencies to help control bleeding during superior vena cava (SVC) tears, which occur in <0.5% of lead extraction procedures [1] but require immediate intervention Bridge Plus allows for rapid response when every second counts by deploying in under two minutes [2] and stopping up to 90% blood loss [3], helping stabilize patients with 30 minutes of hemostasis [4]Bridge Plus was built upon proven Bridge Occlusion Balloon technology, used in more than 50,000 U.S. procedures [5,*], with evidence showing improved survival when staged in advance [6,**] Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, announced the launch of the next-generation Bridge Plus Occlusion Balloon, designed to help electrophysiology teams rapidly control bleeding and stabilize patients during rare but life-threatening superior vena cava (SVC) tears in transvenous lead extraction (TLE) procedures. Building on technology used in more than 50,000 procedures [5*], Bridge Plus enables electrophysiology teams to respond in minutes – helping stabilize patients and buy critical time for surgical repair [2-4].

Lead extraction procedures are commonly performed to remove leads from cardiac implantable electronic devices (CIEDs), such as pacemakers or defibrillators, due to damaged, infected or malfunctioning leads. While there is evidence of lead extraction’s safe use [7,8], SVC tears, occurring in fewer than 0.5% of cases [1], can quickly become fatal without immediate intervention.

Bridge Plus is designed to provide temporary vessel occlusion, helping reduce blood loss, maintain hemostasis, and stabilize patients during emergencies. The balloon can deploy in less than two minutes [2], stop up to 90% blood loss [3], and maintain acceptable hemostasis for at least 30 minutes [4]. This provides physicians with critical time to stabilize patients and prepare for surgical repair.

“Ensuring procedural safety is a top priority for electrophysiology teams,” said Stacy Beske, Business Leader, Image-Guided Therapy Devices at Philips. “Bridge Plus builds on established technology to help physicians prepare for rare SVC tears and respond quickly with the control needed to stabilize patients and transition to surgery.”

Clinical evidence highlights the importance of being prepared for this emergency scenario, with studies showing that survival rates in SVC tear events improved from 56.9% to 88.2% when an occlusion balloon was staged and available during procedures [6, 7].

“Although superior vena cava tears are rare, they represent one of the most critical emergencies that can occur during lead extraction,” said Dr. Thomas Callahan, an electrophysiologist at Cleveland Clinic who studied the technology***. “Having an occlusion balloon staged and ready can significantly improve response time when every second matters. This technology may help teams prepare for these rare but serious events and support safer lead extraction procedures.”

Prophylactic balloon set up brings additional benefits during TLE procedures, including individualized balloon staging for each patient, and the ability to deploy Bridge Plus if fluoroscopy is no longer available.

Bridge Plus is a low-pressure, compliant occlusion balloon with radiopaque markers designed for accurate placement and compatibility with a wide range of patient anatomies [9]. The device expands Philips’ portfolio of lead management solutions supporting safe and effective extraction procedures.

The Bridge Plus Occlusion Balloon is now commercially available in the United States, with international availability expected later in 2026, pending country registrations. The solution will also be showcased at Heart Rhythm Society (HRS) 2026, taking place April 24-26 in Chicago, IL.

For more information, visit the Philips Bridge Plus Occlusion Balloon product page.

*Cases performed in United States since Bridge launch in 2016. 
** When staging the Bridge Balloon versus when no Bridge balloon is used.
*** Dr. Callahan discloses consulting payments from Philips North America LLC for training and education services.

[1] Azarrafiy, Ryan et al. “Endovascular Occlusion Balloon for Treatment of Superior Vena Cava Tears During Transvenous Lead Extraction: A Multiyear Analysis and an Update to Best Practice Protocol.” Circulation. Arrhythmia and electrophysiology vol. 12,8 (2019): e007266. doi:10.1161/CIRCEP.119.007266.
[2] Document on file D002023609_A_Bridge M&M Marketing Claims Test Report. Average timed deployment for commercial Bridge was 74.33 seconds (n=6) and Bridge Plus was 58.33 seconds (n=6).
[3] Document on File, D027561 Marketing claims blood loss report for Bridge project 1338 - When deployed, the Bridge Occlusion Balloon reduces blood loss of an SVC tear by 89.7% (α=0.10), on average, in an animal model.
[4] Document on file, D026197 & animal study - NGX028-IS17 - All animals had biological metrics measured for up to 45 minutes during occlusion and 15 minutes post device deployment.
[5] Document on file. LT-002760 Bridge Sales Customers Raw Data.
[6] Bruce L. Wilkoff, MD, FHRS, Roger G. Carrillo, MD, MBA, FHRS, Ryan Azarrafiy, BA, Darren C. Tsang, BS, Thomas A. Boyle, BS. Compliant endovascular balloon reduces the lethality of superior vena cava tears during transvenous lead extractions.
[7] Wazni 0, Epstein LM, Carrillo RG, et al. Lead extraction in the contemporary setting: the LExlCon study: an observational retrospective study of consecutive laser lead extractions. J Am Coll cardiol. 2010;55(6):579-586.
[8] Bongiorni MG, Kennergren C, Butter C, et al. The European Lead Extraction ConTRolled (ELECTRa) study: a European Heart Rhythm Association (EHRA) registry of transvenous lead extraction outcomes. Eur Heart J. 2017;38(40):2995-3005.
[9] Document on file, D026203 Engineering Translation Rationale For Bridge, Project #1338 – PR00. The balloon will cover the length and diameter of the SVC in 90% of the population as determined by analysis of 52 patients.

For further information, please contact:
Joost Maltha
Philips Global External Relations
Tel.: +31 610 558 116
E-mail: [email protected]

About Royal Philips 

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.

Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2025 sales of EUR 18 billion and employs approximately 64,800 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Clinical illustration of the Philips Bridge Plus balloon in use The Philips Bridge Plus Balloon, uninflated prior to use The inflated Philips Bridge Plus Balloon

Service Properties (SVC - Free Report) came out with quarterly funds from operations (FFO) of $0.04 per share, missing the Zacks Consensus Estimate of $0.1 per share. This compares to FFO of $0.07 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of -57.90%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.01 per share when it actually produced FFO of $0.17, delivering a surprise of +1600%.

Over the last four quarters, the company has surpassed consensus FFO estimates two times.

Service Properties, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $364.45 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 6.28%. This compares to year-ago revenues of $435.18 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Service Properties shares have lost about 16.3% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for Service Properties?While Service Properties has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Service Properties was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.18 on $390.16 million in revenues for the coming quarter and $0.49 on $1.49 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Gladstone Land (LAND - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 11.

This real estate investment trust specializing in farmland is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -83.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Gladstone Land's revenues are expected to be $14.2 million, down 15.5% from the year-ago quarter.

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Read MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in Stock

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2 hours ago

GlobalFoundries (NASDAQ:GFS) Insider Michael James Hogan Sells 2,800 SharesMarketBeat

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $75.17, for a total value of $210,476.00. Following the transaction, the insider owned 6,695 shares in the company, valued at $503,263.15. This trade represents a 29.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that President and Chief Executive Officer Chris Bilotto and Chief Financial Officer and Treasurer Brian Donley will be presenting at Nareit’s REITweek 2026 Investor Conference in New York, NY on Wednesday, June 3, 2026 at 9:30 a.m. Eastern Time.

A live audio webcast of the presentation will be available in a listen-only mode on the company’s website at https://www.svcreit.com/investors/Events-and-presentations. Participants wanting to access the webcast should visit the company’s website about 15 minutes before the start of the presentation.

About Service Properties Trust

SVC is a real estate investment trust with $9.9 billion invested in two asset categories: service-focused retail net lease properties and hotels. As of March 31, 2026, SVC owned 761 service-focused retail net lease properties with over 13.6 million square feet throughout the United States and 93 hotels with over 21,000 guest rooms throughout the United States, including Puerto Rico, and Canada. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2026, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit www.svcreit.com.

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Key Takeaways Terreno Realty sold a 99,000 sq. ft. Torrance industrial property for $31.1M on April 7, 2026.TRNO acquired the property in 2018 for $17.5M, generating a 10.3% unleveraged IRR.Terreno Realty's 2025 dispositions totaled $386.4M, including $144.2M in Q4 sales. Terreno Realty Corporation (TRNO - Free Report) announced the disposition of an industrial property located in Torrance, CA. The sale was carried out on April 7, 2026, for approximately $31.1 million.

The property spans across 99,000 square feet on 4.7 acres, which is 100% leased. Terreno Realty had purchased the property on Jan. 31, 2018, for $17.5 million. The investment yielded an unleveraged internal rate of return of 10.3% to the company.

Terreno Realty’s dispositions are an integral part of its ongoing efforts to optimize its portfolio and enhance its financial performance. In the fourth quarter of 2025, the company sold properties worth $144.2 million. Total dispositions for the year 2025 aggregated $386.4 million.

Wrapping Up on TRNOWhile the sale could lead to a slight near-term decline in rental income if the asset was contributing to revenues, reinvestment of the proceeds into higher-yielding opportunities is expected to support long-term earnings growth. The transaction may also enhance the company’s liquidity and financial flexibility, enabling it to fund future investments or manage its balance sheet more efficiently.

Over the past three months, shares of this Zacks Rank #2 (Buy) company have increased 7.8% compared with the industry's growth of 4.4%. Analysts seem bullish on this industrial REIT, with its 2026 FFO per share estimate moving 3 cents northward to $2.79 over the past two months.

Image Source: Zacks Investment Research

Other Stocks to ConsiderSome other top-ranked stocks from the broader REIT sector are Prologis (PLD - Free Report) and Ventas (VTR - Free Report) , each carrying a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for PLD’s 2026 FFO per share is pegged at $6.14, which indicates year-over-year growth of 5.7%.

The Zacks Consensus Estimate for VTR’s full-year FFO per share stands at $3.84, which calls for an increase of 10.3% from the year-ago period.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida. Building 34 is 100% leased to three tenants. Building 34 of Terreno Realty Corporation’s Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 13.0 acres with 76 dock-high and two grade-level loading positions and parking for 188 cars. The building is expected to achieve LEED certification, the total investment is $55.3 million and the estimated stabilized cap rate is 5.7%.

Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park (“Countyline”), immediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida’s Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $508.5 million.

Taken together, Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2025 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

BELLEVUE, Wash.--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has executed an early lease renewal for 68,000 square feet in Washington, D.C. with a provider of educational services. The lease will commence December 1, 2026 and expire December 2031.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle; and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2025 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

Posted by Defense World Staff on Apr 23rd, 2026

Boston Trust Walden Corp lowered its stake in shares of Terreno Realty Corporation (NYSE:TRNO – Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 447,965 shares of the real estate investment trust’s stock after selling 27,054 shares during the period. Boston Trust Walden Corp owned about 0.43% of Terreno Realty worth $26,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Terreno Realty by 95.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 106,766 shares of the real estate investment trust’s stock worth $6,268,000 after purchasing an additional 52,230 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Terreno Realty by 6.9% during the fourth quarter. Evergreen Capital Management LLC now owns 6,595 shares of the real estate investment trust’s stock worth $390,000 after purchasing an additional 423 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Terreno Realty by 4.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,209 shares of the real estate investment trust’s stock worth $4,239,000 after purchasing an additional 2,937 shares in the last quarter. First Horizon Corp increased its stake in shares of Terreno Realty by 41.5% during the fourth quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 191 shares in the last quarter. Finally, Moran Wealth Management LLC increased its stake in shares of Terreno Realty by 11.1% during the fourth quarter. Moran Wealth Management LLC now owns 21,317 shares of the real estate investment trust’s stock worth $1,252,000 after purchasing an additional 2,127 shares in the last quarter.

Terreno Realty Stock Down 0.4% Shares of NYSE TRNO opened at $65.98 on Thursday. Terreno Realty Corporation has a 12-month low of $53.00 and a 12-month high of $67.55. The stock has a market cap of $7.01 billion, a PE ratio of 16.92 and a beta of 1.12. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $63.99 and a 200 day moving average of $61.93.

Terreno Realty (NYSE:TRNO – Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.68. The company had revenue of $137.48 million during the quarter, compared to analysts’ expectations of $124.72 million. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. As a group, sell-side analysts predict that Terreno Realty Corporation will post 2.79 EPS for the current fiscal year.

Terreno Realty Announces Dividend The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, March 27th. Terreno Realty’s payout ratio is presently 53.33%.

Wall Street Analyst Weigh In A number of research firms have recently commented on TRNO. Weiss Ratings raised shares of Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 22nd. Barclays reaffirmed a “positive” rating and set a $60.00 price objective on shares of Terreno Realty in a research note on Tuesday, January 13th. Citigroup upped their price objective on shares of Terreno Realty from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada set a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 9th. Finally, Piper Sandler upped their price objective on shares of Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.36.

Read Our Latest Analysis on Terreno Realty

Terreno Realty Profile (Free Report)

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

Featured Stories Five stocks we like better than Terreno Realty Want to see what other hedge funds are holding TRNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terreno Realty Corporation (NYSE:TRNO – Free Report).

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Terreno Realty Corporation (TRNO) is rated a Buy with a $70 price target, supported by strong Q1 2026 earnings and a robust development pipeline. TRNO's infill, supply-constrained coastal market focus underpins high occupancy (96.3%) and resilient same-store NOI growth, reinforcing its structural competitive advantage. The REIT maintains a conservative balance sheet (net debt/EBITDA 2.5x) and consistent dividend growth (11.6% CAGR since 2011), with a well-covered 3.17% forward yield.

Terreno Realty Corporation NYSE:TRNO , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in San Francisco, California on June 4, 2026 for a purchase price of approximately $25.9 million.

The property consists of one industrial distribution building containing approximately 65,000 square on 3.8 acres. The property is at 201-395 Mendell Street, in San Francisco’s India Basin neighborhood, and provides 17 dock-high and 10 grade-level loading positions and parking for 95 cars. The building is 100% leased to four tenants all of which expire by May 2031. The estimated stabilized cap rate is 5.5%.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2025 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260528334649/en/

Key Takeaways Terreno Realty acquired a 65,000-square-foot industrial property in San Francisco for $25.9 million.TRNO's newly acquired asset is fully leased to four tenants through May 2031 with a 5.5% cap rate.TRNO reported portfolio leasing of 96.3% for buildings and 96.6% for improved land parcels. Terreno Realty Corporation (TRNO - Free Report) recently announced the acquisition of an industrial property in San Francisco, CA. The buyout was completed on June 4 for a purchase price of approximately $25.9 million.

Located at 201-395 Mendell Street in San Francisco’s India Basin neighborhood, the property comprises roughly 65,000 square feet across 3.8 acres. The facility features 17 dock-high and 10 grade-level loading positions and parking capacity for 95 vehicles. The property is fully leased to four tenants through May 2031 and is expected to generate a stabilized cap rate of approximately 5.5%.

The acquisition aligns with Terreno Realty’s ongoing portfolio optimization strategy. During the first quarter of 2026, the company acquired two industrial properties for a combined investment of approximately $103.2 million. Over the same period, it sold two properties for total proceeds of $55.1 million, reflecting a disciplined approach to capital allocation and balance sheet management.

Through strategic acquisitions and dispositions, Terreno Realty continues to strengthen its presence across six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle and Washington, D.C. These regions benefit from favorable demographic trends, strong consumption patterns and sustained demand for industrial real estate.

TRNO’s portfolio continues to exhibit strong occupancy, with buildings 96.3% leased and improved land parcels 96.6% leased as of March 31, 2026. The company’s focus on high-quality infill industrial assets in supply-constrained coastal logistics markets should support favorable leasing dynamics, continued rent growth and long-term value creation, although results remain subject to local market conditions and tenant demand.

TRNO’s key risks include its concentration in a limited number of coastal markets and near-term lease rollover exposure. Any slowdown in tenant demand or weaker market rents could pressure occupancy and leasing spreads.

Shares of this Zacks Rank #3 (Hold) company have gained 5.1% over the past six months compared with the industry’s growth of 10.3%.

Image Source: Zacks Investment Research

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Cousins Properties (CUZ - Free Report) and Lamar Advertising (LAMR - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for CUZ’s 2026 FFO per share has been revised up marginally over the past two months to $2.93.

The consensus estimate for LAMR’s 2026 FFO per share has been revised northward 2.1% to $8.81 over the past month.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Key Takeaways TRNO pre-leased a 4.6-acre Elizabeth, NJ land parcel to a truck sale and lease operator.Terreno Realty's operating portfolio was 96.3% leased, and same-store assets were 97.6% leased.TRNO's cash rents on new and renewed leases rose 22.4%, with tenant retention at 72.6%. Terreno Realty (TRNO - Free Report) recently announced the execution of a pre-lease for a 4.6-acre improved land parcel in Elizabeth, NJ, with a truck sale and lease operator. The lease will commence on Nov. 1, 2026, immediately after the expiration of the existing tenant lease, and will expire in January 2034.

TRNO’s Q1 2026 Leasing DetailsThe above lease indicates solid demand for TRNO’s industrial properties. The company's healthy leasing activity is evident in its performance in the first quarter of 2026. Its operating portfolio was 96.3% leased as of March 31, 2026. TRNO’s same-store portfolio of 17.5 million square feet was 97.6% leased as of March 31, 2026. For the company’s improved land portfolio of 46 parcels spanning 147 acres, the leased rate was 96.6% as of March 31, 2026.

The cash rents on new and renewed leases commencing during the first quarter of 2026 climbed 22.4%. Moreover, the tenant retention ratio was 72.6% for the operating portfolio.

Terreno: In a SnapshotWith a solid operating platform, a healthy balance sheet position and strategic expansion moves, TRNO seems well-positioned to capitalize on long-term growth opportunities. However, amid macroeconomic uncertainty and geopolitical risks, customers remain focused on cost controls and might delay their decision-making with respect to leasing.

In the past three months, shares of this Zacks Rank #2 (Buy) company have gained 0.9% compared with the industry's 2.5% growth.

Image Source: Zacks Investment Research

Other Stocks to ConsiderSome other top-ranked stocks from the broader REIT sector are Cousins Properties (CUZ - Free Report) and Gladstone (LAND - Free Report) , each carrying a Zacks Rank of #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for CUZ’s 2026 FFO per share is pegged at $2.93, which indicates year-over-year growth of 3.17%.

The Zacks Consensus Estimate for LAND’s full-year FFO per share is pinned at 45 cents, which suggests an increase of 15.38% from the year-ago period.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

Posted by Defense World Staff on Apr 4th, 2026

Exchange Traded Concepts LLC reduced its holdings in CubeSmart (NYSE:CUBE – Free Report) by 71.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,530 shares of the real estate investment trust’s stock after selling 65,261 shares during the quarter. Exchange Traded Concepts LLC’s holdings in CubeSmart were worth $920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CUBE. Royal Bank of Canada lifted its position in shares of CubeSmart by 1.3% during the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock valued at $7,429,000 after acquiring an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of CubeSmart by 944.3% during the first quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after purchasing an additional 6,412 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of CubeSmart by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after purchasing an additional 19,476 shares during the period. Caxton Associates LLP acquired a new stake in CubeSmart during the 1st quarter worth about $270,000. Finally, Cetera Investment Advisers lifted its stake in CubeSmart by 1.6% during the second quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock valued at $731,000 after buying an additional 265 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance Shares of NYSE CUBE opened at $37.23 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a one year low of $34.24 and a one year high of $44.13. The business’s 50-day moving average price is $38.48 and its two-hundred day moving average price is $38.31. The company has a market capitalization of $8.46 billion, a P/E ratio of 25.68 and a beta of 1.13.

CubeSmart Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Insiders Place Their Bets In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.69% of the company’s stock.

Analyst Ratings Changes A number of research firms have recently issued reports on CUBE. Mizuho cut their price target on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Royal Bank Of Canada raised their target price on CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. UBS Group dropped their price target on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Wolfe Research lowered CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Wells Fargo & Company reduced their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.64.

Get Our Latest Report on CubeSmart

CubeSmart Company Profile (Free Report)

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.

Featured Articles Five stocks we like better than CubeSmart Want to see what other hedge funds are holding CUBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CubeSmart (NYSE:CUBE – Free Report).

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Posted by Defense World Staff on Apr 16th, 2026

B&I Capital AG reduced its stake in CubeSmart (NYSE:CUBE – Free Report) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,840 shares of the real estate investment trust’s stock after selling 32,350 shares during the period. CubeSmart accounts for 3.1% of B&I Capital AG’s holdings, making the stock its 13th biggest holding. B&I Capital AG owned 0.11% of CubeSmart worth $8,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CUBE. Alyeska Investment Group L.P. increased its stake in CubeSmart by 36.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after purchasing an additional 1,143,464 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in shares of CubeSmart by 37.3% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock worth $136,805,000 after acquiring an additional 914,884 shares in the last quarter. SG Americas Securities LLC increased its position in shares of CubeSmart by 3,255.9% during the fourth quarter. SG Americas Securities LLC now owns 739,382 shares of the real estate investment trust’s stock worth $26,655,000 after acquiring an additional 717,350 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of CubeSmart during the third quarter worth about $23,516,000. Finally, Engineers Gate Manager LP increased its position in shares of CubeSmart by 4,329.6% during the second quarter. Engineers Gate Manager LP now owns 363,224 shares of the real estate investment trust’s stock worth $15,437,000 after acquiring an additional 355,024 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

Insiders Place Their Bets In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the transaction, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.69% of the stock is currently owned by insiders.

CubeSmart Stock Down 1.7% CubeSmart stock opened at $38.94 on Thursday. CubeSmart has a fifty-two week low of $35.09 and a fifty-two week high of $44.13. The stock has a market cap of $8.88 billion, a PE ratio of 26.85 and a beta of 1.13. The firm’s 50-day simple moving average is $38.62 and its 200 day simple moving average is $38.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.04 and a current ratio of 0.04.

CubeSmart Announces Dividend The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Wednesday, April 1st. CubeSmart’s payout ratio is presently 146.21%.

Analysts Set New Price Targets Several research firms have recently commented on CUBE. Scotiabank raised shares of CubeSmart to a “hold” rating in a research report on Thursday, March 19th. Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. BNP Paribas Exane raised shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Wednesday, March 18th. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.64.

Get Our Latest Research Report on CubeSmart

CubeSmart Profile (Free Report)

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.

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Posted by Defense World Staff on Apr 23rd, 2026

Boston Trust Walden Corp trimmed its position in shares of CubeSmart (NYSE:CUBE – Free Report) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,003,184 shares of the real estate investment trust’s stock after selling 160,791 shares during the quarter. Boston Trust Walden Corp owned 0.44% of CubeSmart worth $36,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CUBE. Wiser Advisor Group LLC acquired a new position in shares of CubeSmart during the third quarter worth about $28,000. Private Trust Co. NA increased its holdings in shares of CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 478 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 568 shares in the last quarter. Huntington National Bank increased its holdings in shares of CubeSmart by 43.3% in the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. purchased a new position in shares of CubeSmart in the 3rd quarter valued at about $42,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In A number of equities analysts have recently issued reports on the stock. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Wells Fargo & Company cut their price target on shares of CubeSmart from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. BNP Paribas Exane upgraded shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Wednesday, March 18th. Scotiabank upgraded shares of CubeSmart to a “hold” rating in a report on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.57.

View Our Latest Analysis on CubeSmart

Insider Activity at CubeSmart In other news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.76% of the stock is currently owned by company insiders.

CubeSmart Price Performance Shares of NYSE CUBE opened at $39.08 on Thursday. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 26.95 and a beta of 1.13. CubeSmart has a 52 week low of $35.09 and a 52 week high of $44.13. The company’s 50-day moving average price is $38.73 and its 200 day moving average price is $38.15. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24.

CubeSmart Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.53 per share. The ex-dividend date was Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.4%. CubeSmart’s payout ratio is 146.21%.

CubeSmart Company Profile (Free Report)

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.

See Also Five stocks we like better than CubeSmart Want to see what other hedge funds are holding CUBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CubeSmart (NYSE:CUBE – Free Report).

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MALVERN, Pa., April 30, 2026 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced its operating results for the three months ended March 31, 2026.

“The first quarter progressed largely as expected, with stable operating trends across the portfolio,” commented Chris Marr, President and Chief Executive Officer. “Same store revenue growth inflected to positive during the quarter, reflecting focused execution and improving underlying fundamentals.”

Key Highlights for the First Quarter

Reported diluted earnings per share (“EPS”) attributable to the Company’s common shareholders of $0.36.Reported funds from operations (“FFO”), as adjusted, per diluted share of $0.63.Same-store (623 stores) net operating income (“NOI”) decreased 1.5% year over year, resulting from a 0.6% increase in revenues and a 5.8% increase in operating expenses.Same-store occupancy averaged 89.0% during the quarter, ending at 89.3%.Opened for operation one development property for a total cost of $28.0 million.Acquired initial store in a newly-formed joint venture during the quarter for a purchase price of $13.6 million.Repurchased 0.9 million common shares of beneficial interest through our share repurchase program for $33.4 million at an average purchase price of $36.64 per share.Added 33 stores to our third-party management platform, bringing our total third-party managed store count to 854. Financial Results

Net income attributable to the Company’s common shareholders was $82.9 million for the first quarter of 2026, compared with $89.2 million for the first quarter of 2025. Diluted EPS attributable to the Company’s common shareholders decreased to $0.36 for the first quarter of 2026, compared with $0.39 for the same period last year.

FFO, as adjusted was $144.2 million for the first quarter of 2026 compared with $148.1 million for the first quarter of 2025. FFO, as adjusted, per diluted share decreased 1.6% to $0.63 for the first quarter of 2026, compared with $0.64 for the same period last year.  

Investment Activity

Acquisition Activity

During the quarter ended March 31, 2026, a newly-formed unconsolidated joint venture with an affiliate of CBRE Investment Management acquired a store in Arizona for a purchase price of $13.6 million. The Company, which has a 15% interest in the venture, contributed $2.1 million to fund the acquisition. The venture will target core, core-plus, and value-add opportunities in high growth markets across the United States. CubeSmart will manage the stores on behalf of the venture.

Development Activity

The Company has agreements with developers for the construction of self-storage properties in high-barrier-to-entry locations. During the quarter ended March 31, 2026, the Company opened for operation one joint venture development property located in New York for a total cost of $28.0 million. The newly developed property and an existing wholly-owned store located immediately adjacent to the developed property are now jointly owned by the venture and have been combined in our store count, as well as for operational and reporting purposes.

As of March 31, 2026, the Company had one joint venture development property under construction. The Company anticipates investing a total of $28.0 million related to this project and had invested $8.0 million of that total as of March 31, 2026. The development property is located in New York and is expected to open during the third quarter of 2027.

Third-Party Management

As of March 31, 2026, the Company’s third-party management platform included 854 stores totaling 56.3 million rentable square feet. During the three months ended March 31, 2026, the Company added 33 stores to its third-party management platform.

Same-Store Results

The Company’s same-store portfolio as of March 31, 2026 included 623 stores containing 45.3 million rentable square feet, or approximately 93.4% of the aggregate rentable square feet of the Company’s 662 consolidated stores. These same-store properties represented approximately 94.7% of the Company’s property NOI for the three months ended March 31, 2026.

Same-store physical occupancy as of March 31, 2026 and 2025 was 89.3% and 89.6%, respectively. Same-store total revenues for the first quarter of 2026 increased 0.6% and same-store operating expenses increased 5.8% compared to the same quarter in 2025. Same-store NOI decreased 1.5% from the first quarter of 2025 to the first quarter of 2026.

Operating Results

As of March 31, 2026, the Company’s total consolidated portfolio included 662 stores containing 48.5 million rentable square feet with physical occupancy of 88.8%.

Total revenues increased $8.9 million and property operating expenses increased $7.1 million for the first quarter of 2026, as compared to the same period in 2025. Increases in revenues were primarily attributable to revenues generated from property acquisitions and recently opened development properties. Increases in property operating expenses were primarily attributable to increases in expenses from same-store properties largely related to advertising and personnel expenses.

Interest expense increased from $26.1 million during the three months ended March 31, 2025 to $29.8 million during the three months ended March 31, 2026, an increase of $3.7 million. The increase was attributable to an increase in the average outstanding debt balance and higher interest rates during the 2026 period compared to the 2025 period. The average outstanding debt balance increased from $3.20 billion during the three months ended March 31, 2025 to $3.48 billion during the three months ended March 31, 2026. The weighted average effective interest rate on our outstanding debt increased from 3.19% during the three months ended March 31, 2025 to 3.33% for the three months ended March 31, 2026.

Financing Activity

During the three months ended March 31, 2026, the Company repurchased 0.9 million common shares of beneficial interest through its share repurchase program for $33.4 million, resulting in an average purchase price of $36.64 per share. As of March 31, 2026, 11.2 million shares remained available for repurchase under this program.

Quarterly Dividend

On February 24, 2026, the Company declared a quarterly dividend of $0.53 per common share. The dividend was paid on April 15, 2026 to common shareholders of record on April 1, 2026.

2026 Financial Outlook

“We maintained our consistent approach to capital allocation during the first quarter, identifying opportunities to invest through our newly formed acquisition joint venture with CBRE and remaining active with share repurchases,” commented Tim Martin, Chief Financial Officer. “Our disciplined approach underscores our confidence in the long-term value of the platform and continued advancement of our strategy.”

The Company estimates that its fully diluted earnings per share for 2026 will be between $1.55 and $1.63, and that its fully diluted FFO per share, as adjusted, for 2026 will be between $2.52 and $2.60. Due to uncertainty related to the timing and terms of transactions, the impact of any potential future speculative investment activity is excluded from guidance. For 2026, the same-store pool consists of 623 properties totaling 45.3 million rentable square feet.

              Current Ranges for Current Ranges for2026 Full Year Guidance Range SummaryAnnual Assumptions
 Prior Guidance (1)Same-store revenue growth (0.25%)
 to 1.25%
 (0.25%)
 to 1.25%
Same-store expense growth 3.25%
 to 4.75%
   3.25%
 to 4.75%
Same-store NOI growth (1.75%)
 to 0.25%
  (1.75%)
 to 0.25%
              Property management fee income$39.0M to$41.0M $39.0M to$41.0MGeneral and administrative expenses$66.5M to$68.5M $66.5M to$68.5MInterest and loan amortization expense$124.5M to$128.5M $124.5M to$128.5MFull year weighted average shares and units228.8M 229.4M              Diluted earnings per share attributable to common                shareholders$1.55
 to$1.63
 $1.55
 to$1.63
Plus: real estate depreciation and amortization 0.97
   0.97
  0.97
   0.97
FFO, as adjusted, per diluted share$2.52
 to$2.60
 $2.52
 to$2.60
               (1) Prior guidance as indicated in our fourth quarter earnings release dated February 26, 2026.

2nd Quarter 2026 Guidance  RangeDiluted earnings per share attributable to common shareholders   $0.38 to$0.40Plus: real estate depreciation and amortization        0.24   0.24FFO, as adjusted, per diluted share       $0.62 to$0.64               Conference Call

Management will host a conference call at 11:00 a.m. ET on Friday, May 1, 2026 to discuss financial results for the three months ended March 31, 2026.

A live webcast of the conference call will be available online from the investor relations page of the Company’s corporate website at investors.cubesmart.com. Telephone participants may join on the day of the call by dialing 1 (833) 461-5787 using conference ID number 144313429. Registered financial analysts participating on the call may avoid delays by pre-registering using the following link: https://events.q4inc.com/analyst/144313429?pwd=lYxu9njp. A replay of the webcast will be available on the Company’s website following the live event.

Supplemental operating and financial data as of March 31, 2026 is available in the investor relations section of the Company’s corporate website.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust (“REIT”). The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2026 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

Non-GAAP Financial Measures

Funds from operations (“FFO”) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of operating performance. The April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts (the “White Paper”), as amended, defines FFO as net income (computed in accordance with GAAP), excluding gains (or losses) from sales of real estate and related impairment charges, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.

Management uses FFO as a key performance indicator in evaluating the operations of the Company's stores. Given the nature of its business as a real estate owner and operator, the Company considers FFO a key measure of its operating performance that is not specifically defined by accounting principles generally accepted in the United States. The Company believes that FFO is useful to management and investors as a starting point in measuring its operational performance because FFO excludes various items included in net income that do not relate to or are not indicative of its operating performance such as gains (or losses) from sales of real estate, gains from remeasurement of investments in real estate ventures, impairments of depreciable assets, and depreciation, which can make periodic and peer analyses of operating performance more difficult. The Company’s computation of FFO may not be comparable to FFO reported by other REITs or real estate companies.

FFO should not be considered as an alternative to net income (determined in accordance with GAAP) as an indication of the Company’s performance. FFO does not represent cash generated from operating activities determined in accordance with GAAP and is not a measure of liquidity or an indicator of the Company’s ability to make cash distributions. The Company believes that to further understand its performance, FFO should be compared with its reported net income and considered in addition to cash flows computed in accordance with GAAP, as presented in its consolidated financial statements.

FFO, as adjusted represents FFO as defined above, excluding the effects of acquisition related costs, gains or losses from early extinguishment of debt, and other non-recurring items, which the Company believes are not indicative of the Company’s operating results.

The Company defines net operating income, which it refers to as “NOI,” as total continuing revenues less continuing property operating expenses. NOI also can be calculated by adding back to net income (loss): interest expense on loans, loan procurement amortization expense, loss on early extinguishment of debt, acquisition related costs, equity in losses of real estate ventures, other expense, depreciation and amortization expense, general and administrative expense, and deducting from net income (loss): equity in earnings of real estate ventures, gains from sales of real estate, net, other income, gains from remeasurement of investments in real estate ventures and interest income. NOI is a measure of performance that is not calculated in accordance with GAAP.

Management uses NOI as a measure of operating performance at each of its stores, and for all of its stores in the aggregate. NOI should not be considered as a substitute for net income, cash flows provided by operating, investing and financing activities, or other income statement or cash flow statement data prepared in accordance with GAAP.

The Company believes NOI is useful to investors in evaluating operating performance because it is one of the primary measures used by management and store managers to evaluate the economic productivity of the Company’s stores, including the ability to lease stores, increase pricing and occupancy, and control property operating expenses. Additionally, NOI helps the Company’s investors meaningfully compare the results of its operating performance from period to period by removing the impact of its capital structure (primarily interest expense on outstanding indebtedness) and depreciation of the basis in its assets from operating results.

Forward-Looking Statements

This presentation, together with other statements and information publicly disseminated by CubeSmart (“we,” “us,” “our” or the “Company”), contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the “Exchange Act.” Forward-looking statements include statements concerning the Company’s plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions and other information that is not historical information. In some cases, forward-looking statements can be identified by terminology such as “believes,” “expects,” “estimates,” “may,” “will,” “should,” “anticipates,” or “intends” or the negative of such terms or other comparable terminology, or by discussions of strategy. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Although we believe the expectations reflected in these forward-looking statements are based on reasonable assumptions, future events and actual results, performance, transactions or achievements, financial and otherwise, may differ materially from the results, performance, transactions or achievements expressed or implied by the forward-looking statements. As a result, you should not rely on or construe any forward-looking statements in this presentation, or which management or persons acting on their behalf may make orally or in writing from time to time, as predictions of future events or as guarantees of future performance. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date of this presentation or as of the dates otherwise indicated in such forward-looking statements. All of our forward-looking statements, including those in this presentation, are qualified in their entirety by this statement.

There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in or contemplated by this presentation. Any forward-looking statements should be considered in light of the risks and uncertainties referred to in Item 1A. “Risk Factors” in our Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission (“SEC”).

These risks include, but are not limited to, the following:

adverse changes in economic conditions in the real estate industry and in the markets in which we own and operate self-storage properties;the effect of competition from existing and new self-storage properties and operators on our ability to maintain or raise occupancy and rental rates;the failure to execute our business plan;adverse consumer impacts and declines in general economic conditions from inflation, tariffs, changes in interest rates and wage stagnation, including impacts on the demand for self-storage, rental rates and fees and rent collection levels;reduced availability and increased costs of external sources of capital;financing risks, including rising interest rates, the risk of over-leverage and the corresponding risk of default on our mortgage and other debt and potential inability to refinance existing or future debt;counterparty non-performance related to the use of derivative financial instruments;risks related to our ability to maintain our qualification as a REIT for federal income tax purposes;the failure of acquisitions or developments of self-storage properties to close on expected terms, or at all, or to perform as expected;increases in taxes, fees and assessments from state and local jurisdictions;the failure of our joint venture partners to fulfill their obligations to us or their pursuit of actions that are inconsistent with our objectives;reductions in asset valuations and related impairment charges;negative publicity relating to our business or industry, which could adversely affect our reputation;increases in operating costs, including, without limitation, insurance, utility and other general expenses, which could adversely affect our financial results;cybersecurity breaches, cyber or ransomware attacks or a failure of our networks, systems or technology, which could adversely impact our business, customer and employee relationships or result in fraudulent payments;risks associated with generative artificial intelligence tools and large language models and the conclusions that these tools and models may draw about our business and prospects in connection with the dissemination of negative opinions, characterizations or disinformation;changes in real estate, zoning, use and occupancy laws or regulations;risks related to or consequences of earthquakes, hurricanes, windstorms, floods, wildfires, other natural disasters or acts of violence, pandemics, active shooters, terrorism, insurrection or war that impact the markets in which we operate;potential environmental and other material liabilities;governmental, administrative and executive orders, regulations and laws, which could adversely impact our business operations and customer and employee relationships;uninsured or uninsurable losses and the ability to obtain insurance coverage, indemnity or recovery from insurance against risks and losses;changes in the availability of and the cost of labor;other factors affecting the real estate industry generally or the self-storage industry in particular; andother risks identified in Item 1A of our Annual Report on Form 10-K and, from time to time, in other reports that we file with the SEC or in other documents that we publicly disseminate. Given these uncertainties, we caution readers not to place undue reliance on forward-looking statements. We undertake no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise except as may be required by securities laws. Because of the factors referred to above, the future events discussed in this presentation may not occur and actual results, performance or achievement could differ materially from that anticipated or implied in the forward-looking statements.

Contact:                               

CubeSmart
Josh Schutzer
Senior Vice President, Finance
(610) 535-5700

CUBESMART AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)

         March 31, December 31,     2026
    2025
  (unaudited)          ASSETS      Storage properties $8,142,043  $8,134,189 Less: Accumulated depreciation  (1,804,268)  (1,758,340)Storage properties, net (includes VIE amounts of $380,588 and $373,687, respectively)  6,337,775   6,375,849 Cash and cash equivalents (including VIE amounts of $5,922 and $4,397, respectively)  7,258   5,782 Restricted cash (including VIE amounts of $48 and $2,552, respectively)  2,212   4,451 Loan procurement costs, net of amortization  1,503   1,803 Investment in real estate ventures, at equity  74,884   74,034 Other assets, net  174,504   181,274 Total assets $6,598,136  $6,643,193        LIABILITIES AND EQUITY      Unsecured senior notes, net $2,926,318  $2,925,103 Revolving credit facility  415,100   378,800 Mortgage loans and notes payable, net (including VIE amounts of $7,090 and $7,092, respectively)  98,249   98,859 Lease liabilities - finance leases  65,534   65,579 Accounts payable, accrued expenses and other liabilities  224,474   229,666 Distributions payable  121,095   121,519 Deferred revenue  42,707   41,591 Total liabilities  3,893,477   3,861,117        Noncontrolling interests in the Operating Partnership  36,072   36,167        Commitments and contingencies             Equity      Common shares $.01 par value, 400,000,000 shares authorized, 226,465,557 and 227,269,217 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively  2,265   2,273 Additional paid-in capital  4,304,254   4,302,554 Accumulated other comprehensive loss  (229)  (249)Accumulated deficit  (1,657,027)  (1,585,135)Total CubeSmart shareholders’ equity  2,649,263   2,719,443 Noncontrolling interests in subsidiaries  19,324   26,466 Total equity  2,668,587   2,745,909 Total liabilities and equity $6,598,136  $6,643,193           CUBESMART AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)

         Three Months Ended March 31,     2026
    2025
       REVENUES      Rental income $239,925  $232,765 Other property related income  32,072   29,766 Property management fee income  9,932   10,505 Total revenues  281,929   273,036 OPERATING EXPENSES      Property operating expenses  90,068   82,934 Depreciation and amortization  61,438   59,156 General and administrative  17,189   16,068 Total operating expenses  168,695   158,158 OTHER (EXPENSE) INCOME      Interest:      Interest expense on loans  (29,831)  (26,100)Loan procurement amortization expense  (1,065)  (1,221)Equity in earnings of real estate ventures  607   379 Other  (195)  809 Total other expense  (30,484)  (26,133)NET INCOME  82,750   88,745 Net income attributable to noncontrolling interests in the Operating Partnership  (357)  (453)Net loss attributable to noncontrolling interests in subsidiaries  494   905 NET INCOME ATTRIBUTABLE TO THE COMPANY $82,887  $89,197        Basic earnings per share attributable to common shareholders $0.36  $0.39 Diluted earnings per share attributable to common shareholders $0.36  $0.39        Weighted average basic shares outstanding  227,809   228,663 Weighted average diluted shares outstanding  228,206   229,169         Same-Store Results (623 stores)
(in thousands, except percentages and per square foot data)
(unaudited)

            Three Months Ended     March 31, Percent       2026
    2025
    Change          REVENUES         Rental income $226,190  $225,678  0.2 %  Other property related income  11,784   10,795  9.2 %  Total revenues  237,974   236,473  0.6 %            OPERATING EXPENSES         Property taxes (1)  29,481   28,656  2.9 %  Personnel expense  14,902   13,899  7.2 %  Advertising  4,540   2,941  54.4 %  Repair and maintenance  2,918   2,745  6.3 %  Utilities  6,462   6,293  2.7 %  Property insurance  2,716   3,449  (21.3)%  Other expenses  11,178   10,228  9.3 %            Total operating expenses  72,197   68,211  5.8 %            Net operating income (2) $165,777  $168,262  (1.5)%            Gross margin  69.7 %   71.2 %              Period end occupancy  89.3 %   89.6 %              Period average occupancy  89.0 %   89.4 %              Total rentable square feet  45,252                 Realized annual rent per occupied square foot (3) $22.46  $22.32  0.6 %            Reconciliation of Same-Store Net Operating Income to Net Income                   Same-store net operating income (2) $165,777  $168,262    Non same-store net operating income (2)  9,213   4,713    Indirect property overhead (4)  16,871   17,127    Depreciation and amortization  (61,438)  (59,156)   General and administrative expense  (17,189)  (16,068)   Interest expense on loans  (29,831)  (26,100)   Loan procurement amortization expense  (1,065)  (1,221)   Equity in earnings of real estate ventures  607   379    Other  (195)  809              Net income $82,750  $88,745               (1) For comparability purposes, current year amounts related to the expiration of certain real estate tax abatements have been excluded from the same-store portfolio results ($206k for the three months ended March 31, 2026, respectively).(2) Net operating income (“NOI”) is a non-GAAP (“generally accepted accounting principles”) financial measure. The above table reconciles same-store NOI to GAAP Net income.(3) Realized annual rent per occupied square foot is calculated by dividing annualized rental income by the weighted average occupied square feet for the period.(4) Includes property management fee income earned in conjunction with managed properties.  Non-GAAP Measure – Computation of Funds From Operations
(in thousands, except percentages and per share and unit data)
(unaudited)

          Three Months Ended    March 31,   2026  2025         Net income attributable to the Company's common shareholders $82,887 $89,197         Add:       Real estate depreciation and amortization:       Real property  59,508  56,689 Company's share of unconsolidated real estate ventures  1,478  1,810 Net income attributable to noncontrolling interests in the Operating Partnership  357  453         FFO attributable to the Company's common shareholders and third-party OP unitholders $144,230 $148,149         Basic earnings per share attributable to common shareholders $0.36 $0.39 Diluted earnings per share attributable to common shareholders $0.36 $0.39 FFO per diluted share and unit $0.63 $0.64 FFO, as adjusted per diluted share and unit $0.63 $0.64         Weighted average basic shares outstanding  227,809  228,663 Weighted average diluted shares outstanding  228,206  229,169 Weighted average diluted shares and units outstanding  229,191  230,340         Dividends per common share and unit $0.53 $0.52 Payout ratio of FFO, as adjusted  84.1% 81.3%