8 High Growth Real Estate Stocks That Are Profitable in 2024

5. CubeSmart (NYSE:CUBE)

5-Year Net Income Growth: 18.07%

5-Year Revenue Growth: 11.47%

TTM Net Income: $403.8 Million

Number of Hedge Fund Holders: 23

CubeSmart (NYSE:CUBE) is a self-administered and self-managed real estate company that focuses on the ownership, acquisition, operation, and development of self-storage facilities in the US. Thus, the company provides affordable and easily accessible storage space for residential and commercial customers.

CubeSmart has the privilege of being one of the largest owners and operators of self-storage properties in the nation with over 1,200 self-storage properties. The firm has a high-quality portfolio in an attractive industry with high margins and dynamic demand. CubeSmart boasts an extensive national footprint spanning 185 markets across 40 states and the District of Colombia and hence, remains diversified. The firm further diversifies its portfolio by exposure to secondary and tertiary markets through its third-party management programs and joint ventures.

During the fiscal second quarter, CubeSmart (NYSE:CUBE) benefitted from a marginally stronger seasonal uplift in demand. The firm reported FFO, as adjusted, of $146.0 million for the quarter as compared to $149.5 million for the second quarter of 2023. While the firm opened for operation two development projects in New Jersey and New York, it added 39 stores to its third-party management platform.

CubeSmart (NYSE:CUBE) is a leading player in self-storage with a focus on submarkets with attractive demographics for long-term demand trends. With the consistent growth in CubeSmart stores, its customer base has also substantially expanded over time. Furthermore, the firm’s external growth strategy remains robust through high-quality acquisitions and value-added joint ventures.