CubeSmart

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust focused on the ownership, operation, development, management and acquisition of self-storage properties throughout the United States. The company was formed in July 2004 as a Maryland REIT and conducts its business through CubeSmart, L.P., a Delaware limited partnership in which it holds a 99.6% ownership interest as of December 31, 2025.

As of the end of 2025, CubeSmart owns or partially owns and consolidates 662 self-storage properties containing approximately 48.4 million rentable square feet located across 25 states and the District of Columbia. The company's portfolio achieves an occupancy rate of 88.1% and serves approximately 399,000 customers. Additionally, CubeSmart manages 862 stores for third parties, bringing the total number of owned and managed properties to 1,524 across 39 states. The company's stores are concentrated in major metropolitan areas, with significant presence in New York, Florida, Texas and California, which collectively represent approximately 52% of total revenues.

CubeSmart's self-storage properties offer climate-controlled units at approximately 84.6% of owned stores, with most locations providing 24-hour access through computer-controlled systems. The company serves both residential and commercial customers through month-to-month lease arrangements. The business model emphasizes maximizing cash flow through disciplined management of rental rates, occupancy levels and discounts while maintaining high standards of physical attributes and customer service.

The company employs 3,121 teammates across the United States, with approximately 88% in hourly positions and 12% in salaried roles. The average teammate tenure is 3.8 years, and the company maintains no union presence or collective bargaining agreements.

CubeSmart's strategy focuses on acquiring stores in targeted markets with high barriers to entry and strong demographic fundamentals, disposing of underperforming assets, growing its third-party management platform and maximizing cash flow from existing operations. The company maintains a disciplined capital structure and finances acquisitions and development through a combination of cash flow, debt financing, equity offerings and joint venture formations. More information is available at www.cubesmart.com.