CubeSmart (CUBE) is emerging as a winner in the race to fill out urban areas with self-storage facilities. Despite smaller size than other Self-Storage REITs, CubeSmart has successfully focused investment on the top 25 US metropolitan areas, where rental rates are higher and growth is more rapid than the US average. Portfolio acquisition pace is ensured by $183 million joint venture development partnerships. Current yield of 3.8% is well supported by FFO growth. Dividends increased 11% during 2018 and appear poised for another increase by year-end 2019.
Self-Storage REITs including CubeSmart are trading near all-time