CubeSmart
Owns U.S. self-storage properties and manages hundreds more for third-party owners.
Something off on this page? Send us feedback.
Profile
Earns rent from owned U.S. self-storage properties and fees from managing hundreds of stores for other owners. The management platform extends the brand, builds operating relationships, and can surface acquisition opportunities.
Owns, operates, develops, manages, and acquires self-storage properties across the United States. The core owned-store business leases storage space to residential and business customers, while the third-party-management platform earns fees by operating stores for outside owners.
Combines a national brand, service-oriented store operations, and SmartRental, its fully online rental platform. Managing hundreds of third-party locations extends operating scale and industry relationships, while giving the company direct knowledge of properties that may later become acquisition candidates.
Results depend on leasing physical storage space across U.S. markets and retaining the employees who run stores, sales centers, and headquarters functions. The management business also depends on maintaining relationships with outside property owners, which support both fee income and the acquisition pipeline.
Company facts
Categories
Key statistics
Year to date +13.1% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 4, 2026 | RBC Capital | Reiterate | Outperform | $46 | $47 | |
| Jul 24, 2026 | Wells Fargo | Reiterate | Neutral | $39 | $42 | |
| Jul 15, 2026 | Raymond James | Target | $50 | $44 | ||
| Jul 10, 2026 | UBS | Reiterate | Neutral | $41 | $43 | |
| Jul 10, 2026 | Barclays | Upgrade | Positive | Overweight | $43 | $46 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.36 | $0.39 | +7.2% | $281.1M | $286.5M | +1.9% | +0.53% |
| Apr 30, 2026Q1 FY26 | $0.35 | $0.63 | +80.1% | $275.2M | $281.9M | +2.4% | −0.84% |
| Feb 26, 2026Q4 FY25 | $0.37 | $0.64 | +73.1% | $276.5M | $282.7M | +2.2% | +2.31% |
| Oct 30, 2025Q3 FY25 | $0.65 | $0.65 | 0.0% | $280.1M | $285.1M | +1.8% | −3.56% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $273.0M | $282.3M | $285.1M | $282.7M | $281.9M | $286.5M | |
| Gross profit | $190.1M | $126.8M | $194.2M | −$255.7M | $69.0M | $190.5M | |
| Operating income | $114.9M | $111.9M | $111.0M | $111.1M | $113.2M | $117.4M | |
| Net income | $89.2M | $83.0M | $82.9M | $78.7M | $82.9M | $89.6M | |
| Diluted EPS | $0.39 | $0.36 | $0.36 | $0.34 | $0.36 | $0.39 | |
| Gross margin | 69.6% | 44.9% | 68.1% | -90.5% | 24.5% | 66.5% | |
| Operating margin | 42.1% | 39.6% | 38.9% | 39.3% | 40.2% | 41.0% |
Fiscal years (4-quarter sums)FY21 $824.9M · FY22 $1.01B · FY23 $1.05B · FY24 $1.07B · FY25 $1.12B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $14.3M · Total debt $3.54B · Total assets $6.58B · Shareholders' equity $2.58B
Dividends
Raised for 16 straight years — most recently to $0.53 from $0.52 in Jan 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 1, 2026 | Jul 1 | Jul 15 | $0.53 | |
| Apr 1, 2026 | Apr 1 | Apr 15 | $0.53 | |
| Jan 2, 2026 | Jan 2 | Jan 16 | $0.53 | raised from $0.52 |
| Oct 1, 2025 | Oct 1 | Oct 15 | $0.52 | |
| Jul 1, 2025 | Jul 1 | Jul 15 | $0.52 | |
| Apr 1, 2025 | Apr 1 | Apr 15 | $0.52 | |
| Jan 2, 2025 | Jan 2 | Jan 16 | $0.52 | raised from $0.51 |
| Oct 1, 2024 | Oct 1 | Oct 15 | $0.51 |
Ownership
Shares outstanding 226.41M · Float 211.26M · 93.3% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 33.92M | 14.98% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 19.50M | 8.61% | 13F | Aug 13, 2026 |
| Norges Bank | 12.24M | 5.40% | 13F | Aug 12, 2026 |
| State Street Corp | 11.04M | 4.88% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 10.24M | 4.52% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 10, 2026 | Christopher P. Marr | director, officer: CEO | −108,932 | $42.24 |
| Mar 3, 2026 | Jeffrey P. Foster | officer: CLO & Secretary | −23,148 | $41.02 |
| Dec 15, 2025 | Christopher P. Marr | director, officer: CEO | −679 | $36.55 |
| Dec 12, 2025 | Christopher P. Marr | director, officer: CEO | −46,925 | $36.55 |
Peers
- Extra Space Storage
Largest U.S. management platform with broad owned-store overlap
- Public Storage
National scale across self-storage leasing, management, and acquisitions
- SmartStop Self Storage REIT
Owned-and-managed storage platform with broad U.S. overlap
- U-Haul
Scaled storage rival embedded in a moving-and-storage network
- Global Self Storage
Small listed REIT with direct regional self-storage overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CubeSmart | $40.02 | −0.05% | $9.06B | 27.6 | 25.5 | 8.0 | +1.5% |
| Extra Space Storage | $143.00 | +0.06% | $30.19B | 32.0 | 30.6 | 8.8 | +3.9% |
| Public Storage | $313.51 | +0.03% | $58.46B | 29.9 | 31.6 | 12.0 | +2.7% |
| SmartStop Self Storage REIT | $33.04 | +0.03% | $1.83B | 64.6 | 64.0 | 11.4 | −5.9% |
| U-Haul | $68.59 | +0.01% | $13.41B | 361.0 | 50.4 | 2.2 | +3.2% |
| Global Self Storage | $5.49 | 0.00% | $62.7M | 29.9 | 78.4 | 4.9 | −1.5% |
| Median | 32.0 | 50.4 | 8.8 | +2.7% |