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Companies / Real Estate / CubeSmart
CUBE

CubeSmart

Ticker CUBEMALVERN, PAFiscal year ends DecemberBook value per share $10.90Diluted shares 227.2M

CubeSmart (NYSE: CUBE) is a self-managed real estate company focused on owning, operating, developing, acquiring and managing self-storage properties in the United States. Its stores offer units, generally rented month to month, to residential and commercial customers, with climate-controlled space at many locations… From the company’s description.

Over the twelve months to Sep 30, 2026, CubeSmart reported revenue of $1.15B, up 3.3% from a year earlier, and net income of $344.25M. Its operating margin was 40.8%, and operations generated $600.77M in cash. In fiscal 2025, it reported revenue of $1.12B, up 5.3% from fiscal 2024, and net income of $331.32M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$1.12BFY2025
+5.3% year over year
Last 12 mo $1.15B
39.97%FY2025
−5.3 percentage points
Last 12 mo 40.82%
$331.32MFY2025
−15.5% year over year
Last 12 mo $344.25M
12.27%FY2025
−1.3 percentage points
Last 12 mo 13.95%
Cash & financing
$608.51MFY2025
−3.6% year over year
Last 12 mo $600.77M
$608.51MFY2025
−3.6% year over year
Last 12 mo $600.77M
1.28FY2025
Was 1.06× a year earlier
Last 12 mo 1.45
229.2MFY2025
+0.9% year over year
Last 12 mo 227.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What CubeSmart does

In the company’s own words

CubeSmart (NYSE: CUBE) is a self-managed real estate company focused on owning, operating, developing, acquiring and managing self-storage properties in the United States. Its stores offer units, generally rented month to month, to residential and commercial customers, with climate-controlled space at many locations and some outdoor vehicle and boat storage. CubeSmart also manages self-storage properties for third-party owners and through joint ventures. It reports one operating segment, covering ownership, operation, development, management and acquisition of self-storage properties. At December 31, 2025, the company owned or partially owned and consolidated 662 stores across 25 states and the District of Columbia, with approximately 48.4 million rentable square feet; it managed 862 additional stores for third parties, bringing its owned and managed total to 1,524. The company was formed in 2004 as a real estate investment trust and conducts its business through CubeSmart, L.P., which holds substantially all company assets and operates the business. Its website is www.cubesmart.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
MALVERN, PA
Fiscal year end
December
CIK
1298675
SIC
6798

Financial performance, year by year

Fiscal 2011–2025 · USD
$-114.51M$229.01M$572.54M$916.06M$1.26B201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns CubeSmart — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

425
funds hold it
0 of 35
superinvestors hold it
$3.42B
held by funds, at market
38.3%
of shares held by funds

Largest fund holders · CubeSmart’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.25%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.11%of fund net assets
VANGUARD SMALL-CAP VALUE INDEX FUND
VBR · VANGUARD INDEX FUNDS
0.19%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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