Nick Kuran's questions to CubeSmart (CUBE) leadership • Q1 2025
Question
Speaking for Eric Wolfe, Nick Kuran from Citigroup Inc. asked how guidance might have differed in a less volatile macro environment and what metrics would define a 'good' peak leasing season for CubeSmart.
Answer
CFO Timothy Martin explained that it is too early in the leasing season to make a dramatic change to full-year guidance, regardless of macro volatility. He stated that a 'good' leasing season would meet their current, more muted expectations, while a 'great' season would resemble pre-pandemic normalcy with stronger gains in occupancy and rates, which is not their current base case.