By Connor Hart

Shares of CubeSmart slipped after the company logged lower profit and revenue in the fourth quarter, and issued lower-than-expected outlooks for the current year.

The stock fell 3.6%, to $41, in after-hours trading Thursday. Shares, which ended the day roughly flat at $42.53, have fallen 15% in the past three months.

The Malvern, Pa., real-estate company--which owns and manages self-storage facilities across the U.S.--posted a profit of $101.9 million, or 45 cents a share, compared with $112.7 million, or 50 cents a share, a year earlier.

Adjusted per-share earnings came in at 68 cents, in line with the expectations of analysts surveyed by FactSet.

Revenue slipped to $231.4 million from $235.2 million the prior year. Analysts were looking for $265.4 million.

Chief Executive Christopher Marr said operating trends in the quarter were in line with the company's expectations, given what he called a volatile self-storage environment.

"Looking forward to 2025, we are optimistic that we have reached an inflection point in the trend of decelerating growth rates, although we remain cautious given the macro uncertainty," he said. "Our expectation is that self-storage fundamentals in 2025 will be consistent with the last two years as there is no obvious catalyst for a sharp acceleration."

In the first quarter, CubeSmart forecast adjusted per-share earnings of 61 cents to 63 cents, missing the 65 cents that analysts modeled.

For the year, the company guided for adjusted per-share earnings between $2.50 to $2.59, also below the $2.67 that analysts forecast.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 27, 2025 18:13 ET (23:13 GMT)

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