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CubeSmart reported third quarter same-store revenue growth of 1.9%, same-store NOI growth of 2.1%, and adjusted FFO per share of $0.66. It raised full-year same-store revenue guidance to 1% to 1.4% and expense growth guidance to 2.8 percent to 3.8 percent.
CubeSmart reported third-quarter revenue of $294.0 million, up 3.1%, and net income growth of 14.4%, driven by higher same-store occupancy and rental rates.
CubeSmart reported third-quarter diluted EPS of $0.42 and adjusted FFO per diluted share of $0.66, up 1.5%, with 2026 adjusted FFO per-share guidance of $2.58–$2.60.
CubeSmart, L.P. entered a Term Loan Agreement on October 26, 2026, funding a $300 million unsecured term loan maturing January 10, 2031 at 0.800% over daily simple SOFR, with proceeds used to repay its unsecured revolving credit facility.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Third-quarter growth inflected positively, with same-store NOI up 2.1%, adjusted FFO per share up 1.5%, period-end occupancy at 89.9%, and improved revenue and expense guidance. Offsetting risks include higher interest and property operating expenses, flat nine-month same-store NOI, capital-allocation uncertainty, and a potentially gradual recovery.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
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| average outstanding debt balance | $3.55B | three months ended September 30, 2026 | — |
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| average purchase price | $39.09 | third quarter of 2026 | — |
| FFO attributable to the Company's common shareholders and third-party OP unitholders non-GAAP | 437.56M | Nine Months Ended September 30, 2026 | — |
| FFO, as adjusted non-GAAP | $150.3M | third quarter of 2026 | — |
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| FFO, as adjusted, attributable to the Company's common shareholders and third-party OP unitholde non-GAAP | 437.62M | Nine Months Ended September 30, 2026 | — |
| FFO, as adjusted, per diluted share non-GAAP | $0.66 | third quarter of 2026 | — |
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| Gross margin | 69.5% | Nine Months Ended September 30, 2026 | — |
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| invested | $10.8M | September 30, 2026 | — |
| Net operating income non-GAAP | 504.98M | Nine Months Ended September 30, 2026 | — |
| Payout ratio of FFO, as adjusted non-GAAP | 82.8% | Nine Months Ended September 30, 2026 | — |
| Period average occupancy | 90% | Nine Months Ended September 30, 2026 | — |
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| Period end occupancy | 89.9% | Nine Months Ended September 30, 2026 | — |
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| physical occupancy | 89.7% | September 30, 2026 | — |
| Realized annual rent per occupied square foot | $22.54 | Nine Months Ended September 30, 2026 | — |
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| rentable square feet | 45.2M | 2026 | — |
| Same-store net operating income non-GAAP | 504.98M | Nine Months Ended September 30, 2026 | — |
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| Same-store occupancy | 90.5% | third quarter of 2026 | — |
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| Same-store operating expenses | 1.3% | third quarter of 2026 | — |
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| Same-store total revenues | 1.9% | third quarter of 2026 | — |
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| share repurchase program | $83.9M | third quarter of 2026 | — |
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| shares remained available for repurchase | 8M | September 30, 2026 | — |
| stores | 90 | nine months ended September 30, 2026 | — |
| Total rentable square feet | 45.24M | Nine Months Ended September 30, 2026 | — |
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| weighted average effective interest rate | 3.37% | three months ended September 30, 2026 | — |
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| Average Price Paid Per Share | $38.95 | the three months ended June 30, 2026 filing | — |
| Average share repurchase price | $38.96 | three months ended June 30, 2026 | — |
| Consolidated physical occupancy | 90.7% | as of June 30, 2026 | — |
| Consolidated rentable square feet | 48.5M | as of June 30, 2026 | — |
| Consolidated store count | 662 | as of June 30, 2026 | — |
| FFO, as adjusted per diluted share and unit non-GAAP | $1.26 | Six Months Ended June 30, 2026 | — |
| Non same-store period end occupancy | 86.9% | three months ended June 30, 2026 filing | — |
| Same-store NOI change | 0.7% | three months ended June 30, 2026 | — |
| Same-store period end occupancy | 91% | three months ended June 30, 2026 filing | — |
| Same-store physical occupancy | 91% | as of June 30, 2026 | — |
| Same-store rental income percent change | 0.5% | Three Months Ended June 30, 2026 | — |
| Same-store store count | 623 | as of June 30, 2026 | — |
| Shares repurchased | 1.1M | three months ended June 30, 2026 | — |
| Third-party managed store count | 872 | as of June 30, 2026 | — |
| Total Number of Shares Purchased | 1,094,843 | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
CUBE
this stock
CubeSmart
|
$10.17B | +24.6% | +5.3% | 29.6 | 3.6% |
|
PLD
Prologis, Inc.
|
$119.96B | +0.8% | +7.2% | 28.4 | 1.8% |
|
PSA
Public Storage
|
$62.14B | +28.2% | +2.7% | 34.9 | 3.8% |
|
EXR
Extra Space Storage Inc.
|
$33.08B | +21.7% | +3.7% | 32.3 | 2.3% |
|
EGP
Eastgroup Properties Inc
|
$10.63B | +10.9% | +12.7% | 33.5 | 8.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| CUBE | -0.2% | +15.2% | +12.4% | +5.1% | +24.6% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -2.8% | +16.3% | +11.9% | +5.3% | +14.0% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
