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REIT that owns and manages self-storage facilities across the United States.
REIT that owns and manages self-storage facilities across the United States.
Most revenue is rent on month-to-month contracts, so rates can be raised on existing customers and reset quickly with demand. Fees for managing stores owned by others add a smaller stream. Local supply of new storage space matters more to pricing than national trends.
Moat: narrow (scale, brand, installed base). Brand recognition and dense local market clusters support pricing, but sites face local competition and new supply.
Headquarters: Malvern, Pennsylvania, United States · Founded: 2004 · Employees: 3,121
Size CubeSmart (CUBE) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $10.1B, the 773rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $45.02 on 6 Nov 2026.
Performance Over six months the shares gained 11.3%, against -1.3% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 3.3% over the last twelve months (peer median +6.5%); the operating margin is 40.8% (peer median 34.8%).
Valuation It trades at 4.06× book value against a peer median of 2.00× (3rd most expensive of 21).
Price implies The share price implies a return on equity of about 30.4%; CubeSmart delivers 13.1%, so the price asks more than the business earns today.
Credit CubeSmart has 6 bonds outstanding ($2.65B), rated BBB by the agencies and trading like BBB at a weighted spread of 83 bp.
Short interest Short interest is 3.7% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.15B | $1.12B | $1.07B | $1.05B | $1.01B |
| Revenue growth | — | +5% | +2% | +4% | — |
| Gross profit | $536M | $514M | $543M | $554M | $406M |
| EBITDA | $706M | $707M | $689M | $699M | $662M |
| Net income | $346M | $334M | $391M | $411M | $291M |
| Free cash flow | $552M | $567M | $593M | $580M | $613M |
| Capital expenditure | $51.3M | $44.8M | $43.6M | $39.9M | $41.2M |
| Total debt | $3.60B | $3.52B | $3.10B | $3.04B | $3.11B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| CubeSmart CUBE | $10.1B | +11% | +3% | 13% | 4.06× | 30.4% |
| Public Storage PSA | $63.1B | +10% | +5% | 16% | 6.45× | 43.1% |
| Extra Space Storage EXR | $33.2B | +12% | +4% | 8% | 2.59× | 21.8% |
| U-Haul UHAL | $9.87B | +7% | +3% | 0% | 1.45× | 13.5% |
| SmartStop Self Storage REIT SMA | $2.31B | +20% | +21% | 2% | 1.86× | 9.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CUBE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.0% | +6.8% | highest of 21 |
| 6-month return | +11.3% | -1.3% | 4th highest of 21 |
| Return on equity | 13.1% | 9.1% | 7th highest of 20 |
| Price / book | 4.06× | 2.00× | 3rd most expensive of 21 |
| Trailing P/E | 29.6× | 24.1× | 8th most expensive of 18 |
| ROE the price implies | 30.4% | 14.8% | 3rd most demanding of 21 |
| ROE delivered | 13.1% | 9.1% | 7th highest of 20 |
| Bond spread | 83 bp | 95 bp | 3rd tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| CubeSmart CUBE | United States | $10.1B | +11% | +3% | 13% | 4.06× | 30.4% | 13.1% |
| Janus Living JAN | United States | $9.93B | +15% | n/a | n/a | 2.41× | 15.7% | n/a |
| BXP BXP | United States | $10.4B | +11% | +3% | 10% | 2.00× | 17.2% | 10.4% |
| Federal Realty Investment Trust FRT | United States | $9.74B | -2% | +8% | 14% | 3.14× | 23.7% | 13.6% |
| EastGroup Properties EGP | United States | $10.4B | -6% | +10% | 9% | 2.92× | 22.3% | 8.9% |
| CapitaLand Investment 9CI.SI | Singapore | $9.22B | -11% | -15% | 1% | 0.94× | 7.9% | 1.5% |
| Brixmor Property BRX | United States | $9.21B | +1% | +5% | 14% | 3.05× | 23.1% | 14.2% |
| Ryman Hospitality Properties RHP | United States | $9.11B | +19% | +13% | 26% | 6.58× | 55.9% | 26.0% |
| Agree Realty ADC | United States | $9.09B | -8% | +18% | 4% | 1.34× | 8.2% | 3.8% |
| AGNC Investment AGNC | United States | $11.2B | -19% | +152% | 1% | 1.15× | 13.1% | 0.9% |
| CareTrust REIT CTRE | United States | $9.03B | -8% | +53% | 9% | 2.01× | 14.7% | 9.1% |
| Gaming and Leisure Properties GLPI | United States | $11.3B | -19% | +7% | 20% | 2.28× | 14.8% | 19.6% |
| Lineage LINE | United States | $8.91B | -2% | +1% | -2% | 1.13× | 9.9% | -2.0% |
| CapitaLand Ascendas REIT A17U.SI | Singapore | $8.83B | -9% | +7% | 7% | 0.99× | 5.2% | 7.0% |
| UDR UDR | United States | $11.6B | -1% | +1% | 22% | 3.76× | 22.9% | 21.8% |
| American Homes 4 Rent AMH | United States | $11.8B | +2% | +4% | 7% | 1.73× | 12.9% | 6.8% |
| Equity LifeStyle Properties ELS | United States | $12.3B | 0% | +3% | 22% | 6.99× | 37.4% | 22.3% |
| MERLIN Properties SOCIMI MRL.MC | Spain | $8.05B | -23% | +13% | 10% | 0.77× | 8.0% | 9.9% |
| Rexford Industrial Realty REXR | United States | $8.02B | +4% | -2% | -6% | 1.16× | 11.7% | -5.9% |
| Vicinity Centres VCX.AX | Australia | $8.01B | 0% | +3% | 12% | 0.94× | 9.7% | 12.0% |
| American Healthcare REIT AHR | United States | $12.7B | +12% | +16% | 4% | 3.05× | 20.7% | 4.0% |
CubeSmart has 6 bonds outstanding with $2.65B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.43%, a spread of 83 bp over government bonds.