CubeSmart Reports First Quarter 2026 Results

CubeSmart (CUBE) reported Q2 2026 non-GAAP FFO of $0.63 per diluted share, down 3.1% from $0.65 a year earlier. Same-store revenue rose 0.8% YoY, while same-store operating expenses grew 4.4%, pushing same-store NOI down 0.7%. Full-year 2026 FFO guidance was raised to $2.54-$2.60. The company agreed to a Heitman JV contributing $197M of assets and declared a $0.53 dividend.

CubeSmart reported Q2 2026 results and said same-store revenues turned positive in H1, with positive earnings growth expected in H2. Management raised full-year same-store revenue guidance to 0.5% to 1.25%. July occupancy rose 30 bps to 91.1% as rentals were up 3% and vacates down 3%. It also announced a Titan JV and $75.8M buybacks.

Barclays upgraded CubeSmart to Overweight from Equal Weight and raised its price target to $46 from $45, citing improving move-in trends and stronger pricing power. It downgraded Public Storage to Equal Weight from Overweight, keeping its $349 target unchanged. Barclays maintained Overweight on Extra Space Storage and lifted its target to $172 from $170, expecting a gradual self-storage recovery as supply eases.

Johnson & Johnson (JNJ) proposed a $5.5B settlement for 76,000 talc-related lawsuits, but it requires 95% claimant approval and may exceed this amount. The company has $21B in cash and expects to pay $3B in 2027, with further payments starting in 2028. A judge's recent ruling may strengthen JNJ's legal position. Investors weigh the benefit of reduced uncertainty against potential higher costs.

Wall Street analysts maintain positive outlooks on CrowdStrike, Dell, and SanDisk, citing long-term growth in cybersecurity, AI infrastructure, and storage. CrowdStrike's price target raised to $245 by Truist, Dell's to $550 by Evercore, and SanDisk's to $2,250 by J.P. Morgan, all with buy ratings.

Pemex and Petrobras are collaborating to explore deep, high-risk oil prospects in the Gulf of Mexico. Pemex, facing declining production and high debt, seeks to unlock potential resources in Jurassic formations. Petrobras, with extensive pre-salt drilling experience, brings technical expertise. Success could reverse Pemex's fortunes, but risks remain high. Pemex reported a 70% net profit drop in Q2 2024, producing 1.66 million bpd, below government targets.