CubeSmart (CUBE) SEC Filings & Earnings Calls
EquiReason read 17 CubeSmart SEC filings in the last 12 months. Latest: 8-K on 2026-09-14 — CubeSmart filed an 8-K with earnings results and an investor presentation;.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 9.0B
- P/E TTM
- 27.5
- Dividend yield
- 5.3%
- 52-week
- —
- Next earnings
- 29 Oct, in 5 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
14 Sep 20268-K · 2.02, 7.01CubeSmart filed an 8-K with earnings results and an investor presentation;earningsopen
Figures in the filing · each found in the filing text
| Properties · 2026-06-30 | 1,534 | +19% y/y |
| Total owned square feet · 2026-06-30 | 48,500,000 | |
| Same-store NOI CAGR (5-year) · 2025-12-31 | 6.6% | |
| FFO per share growth (5-year) · 2025-12-31 | 50.0% | |
| Dividend growth (5-year) · 2025-12-31 | 57.0% | |
| Enterprise Value · 2026-06-30 | $12.50B |
Risks flagged
No new risk factors identified; only standard boilerplate forward-looking statements.
“Safe harbor and risk factor references are generic.”
31 Jul 202610-QQ2 2026 earnings: revenue up 1.5%, same-store NOI down 0.7%, net income up 8.5% due to lower depreciation and a land sale gain.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q2-2026 | $286M | +2% y/y |
| Net Income · Q2-2026 | $89M | +9% y/y |
| FFO · Q2-2026 | $143M | -4% y/y |
| NOI · Q2-2026 | $190M | -2% y/y |
| End Occupancy Period · 2026-06-30 | 90.7% | |
| Available on Revolver · 2026-06-30 | $549M |
Guidance
Expect recurring capex $12.5M-$17.5M, planned improvements $9M-$14M, development $2M-$7M for remainder of 2026.
Management reaffirms focus on internal growth and selective acquisitions, with stable demand outlook.
Risks flagged
Expense Growth
“Property operating expenses increased 7.9% for the three months ended June 30, 2026, primarily due to increases in property taxes, personnel expense and advertising.”
Interest Rate Exposure
“Interest expense on loans increased from $29.1 million to $30.3 million, an increase of 4.3%, due to higher average debt balance and interest rates.” · word for word
31 Jul 20268-K · 2.02, 7.01Q2 2026: Diluted EPS $0.39 (vs $0.36 YoY), FFO as adjusted $0.63 (vs $0.65). Same-store NOI -0.7% (revenue +0.8%, expenses +4.4%). Guidance raised: FY26 FFO/sh $2.54-2.60 (from $2.50-2.58), EPS $1.58-1.64 (from $1.55-1.63). Credit facilityearningsopen
Figures in the filing · each found in the filing text
| Diluted EPS attributable to common shareholders · Q2-2026 | $0.39 | +8% y/y |
| FFO as adjusted per diluted share · Q2-2026 | $0.63 | -3% y/y |
| Net income attributable to common shareholders · Q2-2026 | $90M | +8% y/y |
| FFO as adjusted · Q2-2026 | $143M | -4% y/y |
| Same-store NOI growth · Same-store · Q2-2026 | -0.7% | |
| Same-store revenue growth · Same-store · Q2-2026 | 0.8% | |
| Same-store operating expense growth · Same-store · Q2-2026 | 4.4% | |
| Same-store physical occupancy (end of period) · Same-store · Q2-2026 | 91.0% | |
| Same-store average occupancy · Same-store · Q2-2026 | 90.4% | |
| Total consolidated stores · Q2-2026 | 662 |
Guidance
FY26 fully diluted EPS $1.58-1.64 (prior $1.55-1.63); FY26 fully diluted FFO per share as adjusted $2.54-2.60 (prior $2.50-2.58)
Guidance raised for same-store revenue, same-store NOI, and FFO; midpoint increases.
Risks flagged
Operating expense growth (4.4%) outpacing revenue growth (0.8%), pressuring same-store NOI.
“Same-store operating expenses increased 4.4% compared to same quarter in 2025.”
Interest expense increased due to higher average debt balance and higher interest rates.
“Interest expense increased $1.2M due to increase in average outstanding debt balance and higher interest rates.”
1 May 202610-QTotal Revenue $282M (+3% y/y); Same Store NOI $166M (-2% y/y); Same Store Occupancy (Period End) 89.3open
Figures in the filing · each found in the filing text
| Total Revenue · Q1-2026 | $282M | +3% y/y |
| Same Store NOI · Same Store · Q1-2026 | $166M | -2% y/y |
| Same Store Occupancy (Period End) · Same Store · Q1-2026 | 89.3% | |
| Same Store Realized Annual Rent per Occupied Sq Ft · Same Store · Q1-2026 | $22.46 | +1% y/y |
| FFO Attributable to Common Shareholders and OP Unitholders · Q1-2026 | $144M | -3% y/y |
| Net Income Attributable to Common Shareholders · Q1-2026 | $83M | -7% y/y |
| Interest Expense on Loans · Q1-2026 | $30M | +14% y/y |
Guidance
No explicit quantitative guidance. Provides capex ranges for remainder of 2026. Management tone neutral.
Risks flagged
Interest Rate Exposure
“Interest expense on loans increased from $26.1 million during the three months ended March 31, 2025 to $29.8 million during the three months ended March 31, 2026, an increase of $3.7 million, or 14.3%.” · word for word
Expense Growth Pressure
“Property operating expenses increased from $82.9 million for the three months ended March 31, 2025 to $90.1 million for the three months ended March 31, 2026, an increase of $7.1 million, or 8.6%.” · word for word
3 Apr 2026DEF 14AProxy statement filed; no material event.open
Figures in the filing · each found in the filing text
| FFO, as adjusted per share · FY2025 | $2.58 | -2% y/y |
| Same-store NOI growth · FY2025 | 6.6% | |
| Same-store revenue growth · FY2025 | 5.5% | |
| Net Debt/EBITDA · FY2025 | $4.80 | |
| Net income · FY2025 | $331M | -15% y/y |
27 Feb 202610-KRental income $957M (+5% y/y); Total revenues $1.12B (+5% y/y); Net income attributable to common shareholders $334M (-15% y/y)open
Figures in the filing · each found in the filing text
| Rental income · total portfolio · FY2025 | $957M | +5% y/y |
| Total revenues · FY2025 | $1.12B | +5% y/y |
| Net income attributable to common shareholders · FY2025 | $334M | -15% y/y |
| Same-store rental income · same-store · FY2025 | $893M | -1% y/y |
| Same-store net operating income · same-store · FY2025 | $667M | -1% y/y |
| Period-end occupancy · same-store · FY2025 | 88.6% | |
| Realized annual rent per occupied sq. ft. · same-store · FY2025 | $22.73 | +0% y/y |
| Total owned stores · FY2025 | 662 | +5% y/y |
| Total rentable square feet · FY2025 | 48,390,000 | +6% y/y |
| Interest expense on loans · FY2025 | $114M | +26% y/y |
Risks flagged
Interest rate risk
“Interest expense on loans increased from $90.8 million for the year ended December 31, 2024 to $114.1 million for the year ended December 31, 2025, an increase of $23.3 million, or 25.6%.” · word for word
Occupancy decline
“Period end occupancy 88.6 % 89.3 %” · word for word
2 Dec 20258-K · 2.02, 7.01Properties 1,523; Total owned square feet 48,200,000; Enterprise Value $12.70Bearningsopen
Figures in the filing · each found in the filing text
| Properties · Q3-2025 | 1,523 | |
| Total owned square feet · Q3-2025 | 48,200,000 | |
| Enterprise Value · Q3-2025 | $12.70B |
31 Oct 20258-K · 2.02, 7.01Diluted EPS $0.36 (-18% y/y); FFO, as adjusted, per diluted share $0.65 (-3% y/y); Same-store occupancy (average) 89.9earningsopen
Figures in the filing · each found in the filing text
| Diluted EPS · Q3-2025 | $0.36 | -18% y/y |
| FFO, as adjusted, per diluted share · Q3-2025 | $0.65 | -3% y/y |
| Same-store occupancy (average) · Same-store · Q3-2025 | 89.9% | |
| Same-store occupancy (end of period) · Same-store · Q3-2025 | 89.0% | |
| Net income attributable to common shareholders · Q3-2025 | $83M | -18% y/y |
| Interest expense · Q3-2025 | $29M | +29% y/y |
Risks flagged
Same-store revenue and NOI decline driven by occupancy pressure in sunbelt markets; interest expense increased due to higher debt and rates.
“Our coastal and more urban markets maintained their strong performance while our sunbelt properties continued to experience tradeoffs between rate and occupancy.” · word for word
31 Oct 202510-QCubeSmart reported Q3 2025 net income of $82.9M, down 17.7% YoY, with same-store rental income declining 0.9% and interest expense rising 29.1%.earningsopen
Figures in the filing · each found in the filing text
| Total revenues · Q3-2025 | $285M | +5% y/y |
| Net income attributable to common shareholders · Q3-2025 | $83M | -18% y/y |
| FFO attributable to common shareholders and OP unitholders · Q3-2025 | $149M | -3% y/y |
| Period end occupancy · same-store · 2025-09-30 | 88.6% | |
| Realized annual rent per occupied sq. ft. · same-store · Q3-2025 | $22.99 | 0% y/y |
Risks flagged
Interest rate exposure
“Interest expense increased 29.1% YoY due to higher debt balance and higher effective rate.”
Same-store revenue decline
“Same-store rental income decreased 0.9% YoY, occupancy down 120bps.”
CubeSmart — questions
- What did CubeSmart file recently?
- 17 SEC filings in the last 12 months. Latest: 8-K on 2026-09-14 — CubeSmart filed an 8-K with earnings results and an investor presentation;
Every figure on this page comes from CubeSmart's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.