CubeSmart announces 2024 distribution tax allocations for shareholders, detailing amounts and classifications of payments.
Quiver AI Summary
CubeSmart announced the tax allocations for its 2024 distributions for its common shares, detailing distribution amounts, record dates, and payable dates. Each quarter in 2024, shareholders will receive a distribution of $0.51 per share, with the ordinary dividend portion being approximately $0.485746 and a Section 199A dividend of $0.024254. The fourth quarter distribution, payable on January 16, 2025, will be considered a 2025 distribution for federal tax purposes. CubeSmart is a leading real estate investment trust specializing in self-storage properties, owning or managing 1,528 locations across the U.S., focused on providing affordable and accessible storage solutions. More information can be found on their website.
Potential Positives
- CubeSmart has maintained a consistent distribution of $0.51 per share for 2024, which may attract investors looking for stable income.
- The company is recognized as one of the top three owners and operators of self-storage properties in the U.S., enhancing its credibility and market position.
- The press release provides transparency regarding the tax implications of distributions, which can foster trust among shareholders and investors.
- CubeSmart's commitment to innovative solutions and customer service is highlighted, reinforcing the company's focus on meeting customer needs effectively.
Potential Negatives
- The announcement of the tax allocations and distributions may suggest a lack of growth potential, as the uniform distribution amount of $0.51 per share over the year does not indicate any increase in profitability or shareholder value.
- The indication of $0.00 amounts for direct and indirect holders of “applicable partnership interests” may raise concerns regarding the company's engagement with certain investors, potentially affecting investor confidence.
- Providing detailed tax allocation information could imply that the company is facing more scrutiny in terms of its financial disclosures, possibly reflecting underlying financial complexities or challenges.
FAQ
What are the tax allocations for CubeSmart's 2024 distributions?
The 2024 distributions include details on ordinary dividends, capital gains, and unrecaptured Section 1250 gains.
When are the record and payable dates for CubeSmart's 2024 distributions?
The record dates are January 2, April 1, July 1, and October 1, with payable dates following on January 16, April 15, July 15, and October 15.
How much is the total distribution per share for CubeSmart's common stock?
The total distribution per share for 2024 is $0.51 for each of the four quarters.
What is CubeSmart's mission as a company?
CubeSmart's mission is to simplify storage solutions through innovation, service, and care for residential and commercial needs.
How can I learn more about CubeSmart and its services?
Visit www.cubesmart.com or call 800-800-1717 for more information about CubeSmart's storage services and nearby facilities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CUBE Insider Trading Activity
$CUBE insiders have traded $CUBE stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.
Here’s a breakdown of recent trading of $CUBE stock by insiders over the last 6 months:
- CHRISTOPHER P MARR (CEO) has made 0 purchases and 2 sales selling 74,906 shares for an estimated $3,637,155.
- JOEL D KEATON (COO) sold 43,478 shares for an estimated $2,085,848
- TIMOTHY M MARTIN (CFO) sold 30,765 shares for an estimated $1,507,974
- JENNIFER SCHULTE (Chief Human Resources Officer) sold 15,942 shares for an estimated $837,919
- JEFFREY P FOSTER (CLO & Secretary) sold 7,739 shares for an estimated $366,084
- MATTHEW D DENARIE (Chief Accounting Officer) sold 868 shares for an estimated $46,559
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CUBE Hedge Fund Activity
We have seen 217 institutional investors add shares of $CUBE stock to their portfolio, and 188 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- TRUIST FINANCIAL CORP removed 1,711,167 shares (-65.6%) from their portfolio in Q3 2024, for an estimated $92,112,119
- FMR LLC removed 1,465,577 shares (-8.2%) from their portfolio in Q3 2024, for an estimated $78,892,009
- BLACKROCK, INC. added 1,327,111 shares (+4.9%) to their portfolio in Q3 2024, for an estimated $71,438,385
- CAPITAL WORLD INVESTORS added 1,034,752 shares (+inf%) to their portfolio in Q3 2024, for an estimated $55,700,700
- JPMORGAN CHASE & CO removed 867,687 shares (-18.0%) from their portfolio in Q3 2024, for an estimated $46,707,591
- BALYASNY ASSET MANAGEMENT L.P. removed 842,708 shares (-42.6%) from their portfolio in Q3 2024, for an estimated $45,362,971
- PRICE T ROWE ASSOCIATES INC /MD/ added 829,176 shares (+13.9%) to their portfolio in Q3 2024, for an estimated $44,634,544
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MALVERN, Pa., Jan. 21, 2025 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) announced today the tax allocations of its 2024 distributions for CubeSmart Common Shares of Beneficial Interest.
The 2024 distributions paid with respect to CubeSmart common stock (CUSIP #229663-109 and traded under ticker symbol CUBE) are as follows:
Record Date | Payable Date | Total Distribution per Share | Ordinary Dividend (Box 1a) | Total Capital Gain (Box 2a) | Unrecaptured Section 1250 Gain ( 1) (Box 2b) | Nondividend Distribution (Box 3) | Section 199A Dividend ( 2 ) (Box 5) | Section 897 Capital Gains (Box 2f) | ||||||||||||||||||
1/2/2024 | 1/16/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
4/1/2024 | 4/15/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
7/1/2024 | 7/15/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
10/1/2024 | 10/15/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
$ | 2.04 | $ | 1.942984 | $ | 0.000000 | $ | 0.000000 | $ | 0.097016 | $ | 1.942984 | $ | 0.000000 | |||||||||||||
(1) Amounts in Box 2b are included in Box 2a. | ||||||||||||||||||||||||||
(2) Amounts in Box 5 are included in Box 1a. | ||||||||||||||||||||||||||
The fourth quarter 2024 distribution made to holders of record of common shares as of January 2, 2025 is considered a 2025 distribution for federal income tax purposes.
Pursuant to Treas. Reg. § 1.1061-6(c), the Company reports that for purposes of section 1061 of the Internal Revenue Code, the One Year Amounts Disclosure and the Three Year Amounts Disclosure are $0.00 with respect to direct and indirect holders of “applicable partnership interests.”
About CubeSmart
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,528 self-storage properties across the United States. According to the 2024 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the U.S.
The Company’s mission is to simplify the organizational and logistical challenges created by the many life events and business needs of its customers through innovative solutions, unparalleled service, and genuine care. 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.
For more information about business and personal storage or to learn more about the Company and find a nearby storage facility, visit www.cubesmart.com or call CubeSmart toll free at 800-800-1717.
Company Contact
:
Josh Schutzer
Vice President, Finance
(610) 535-5700
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
