Cubesmart · NYSE:CUBE
Cubesmart — U-Store-It Trust — NAREIT Conference 2007
14 slides from Cubesmart's conference presentation, Jun 6, 2007
Slide 1: NAREIT Conference - June 6, 2007
NAREIT CONFERENCE - JUNE 6, 2007
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain statements that may be considered to be "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical facts, that address activities, events or developments that the Co
Slide 3: Agenda
Financial overview Portfolio overview Organizational structure Corporate overview U-Store-It objectives 1 1 1 2 3 3 5 4 9 5 12 6 7
Slide 4: U-Store-It objectives
U-Store-It objectives U-Store-It will seek to grow the business both internally and externally Internal growth opportunities Improve physical occupancy Increase marketing through the internet Improve training at stores to increase the number of closed transactions Utilize incentives to attract addit
Slide 5: Corporate overview
Financial overview Portfolio overview Organizational structure Corporate overview U-Store-It objectives 3 1 1 2 3 3 5 4 7 5 10 6 7
Slide 6: Introduction to U-Store-It Trust
Introduction to U-Store-It Trust Key financials ($ millions) Company snapshot Facility overview (as of 3/31/07) U-Store-It is a self-administered and self-managed REIT focused on the ownership, operation, acquisition and development of self-storage facilities in the United States The company is the
Slide 7: Organizational structure
Financial overview Portfolio overview Organizational structure Corporate overview U-Store-It objectives 5 1 1 2 3 3 5 4 7 5 10 6 7
Slide 8: Led by a recently upgraded, experienced management team
U-Store-It is led by a recently upgraded, experienced management team . . . Board of Trustees Christopher P. Marr Chief Financial Officer 1 year with YSI 13 years in real estate Kathleen A. Weigand Executive Vice President, General Counsel and Secretary 1 year with YSI 1 year in real estate Stephen
Slide 9: Portfolio overview
Financial overview Portfolio overview Organizational structure Corporate overview U-Store-It objectives 7 1 1 2 3 3 5 4 7 5 10 6 7
Slide 10: Has a diversified portfolio
U-Store-It has a diversified portfolio Store distribution (as of 03/31/2007) Alabama Arizona California Colorado Connecticut Delaware Florida Georgia Illinois Indiana Louisiana Maryland Massachusetts Michigan Mississippi Nevada New Jersey New Mexico New York North Carolina Ohio Pennsylvania Rhode Is
Slide 11: Portfolio demographics
Portfolio demographics 2006 Population (benchmark = 100,000) Median: 181,484, with 79% of the portfolio above the benchmark 2006 Population per square mile (benchmark = 1,275) Median: 2,312, with 79% of the portfolio above the benchmark 2006 Median HH income (benchmark = $38,000) Median: $51,335, wi
Slide 12: Financial overview
Financial overview Portfolio overview Organizational structure Corporate overview U-Store-It objectives 10 1 1 2 3 3 5 4 7 5 10 6 7
Slide 13: First Quarter 2007 Results
U-Store-It First Quarter 2007 Results Funds from Operations (FFO) reported at $0.21/share In-line with previously issued guidance of $0.21 - $0.23 Same Store Occupancy of 79.7% (and average occupancy of 79.6%) In-line with previously issued guidance of 79.5% - 80.0% Same Store Revenue growth of 4.2%
Slide 14: First Quarter FFO to EPS Reconciliation
U-Store-It First Quarter FFO to EPS Reconciliation Net Loss $(3,358) Add (deduct): Real estate depreciation 16,610 Minority interests (304) FFO (1) $12,948 Loss per share - fully diluted $(0.06) FFO per share and unit - fully diluted $0.21 Weighted-average diluted shares outstanding 57,421 Weighted-