NYSE$CUBE

CubeSmart · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

CubeSmart reported fourth quarter 2025 results with stable occupancy and modest same-store revenue growth.

CubeSmart generated 278706000 in total revenue and 86215000 in net income for Q4 2025, supported by positive same-store NOI growth and steady occupancy levels.

  • Same-store NOI increased 2.7% year-over-year in the fourth quarter.
  • Same-store average occupancy remained resilient at 92.4%.
  • Total period-end occupancy was 91.8% across the portfolio.
  • The company ended the quarter with 1456 total consolidated stores.

Headline financials

Total Revenue

$279M

Previous: $1.07B-73.9%
EPS (adj)

$0.64

Previous: $0.68-5.9%
Same-Store Avg Occupancy

92.4%

No prior period
Total Period-End Occupancy

91.8%

No prior period
Same-Store Revenue Growth

2.1%

No prior period
Same-Store Expense Growth

1.4%

No prior period
Same-Store NOI Growth

2.7%

No prior period
Total Consolidated Stores

1.5K

No prior period
Same-Store Stores

1.2K

No prior period
Third-Party Managed Stores

842

No prior period
Total Rentable Sq Ft

104.5M

No prior period
Same-Store Rentable Sq Ft

87.5M

No prior period
3rd Party Managed Sq Ft

61.2M

No prior period
Net Income

$86.2M

Previous: $102M-15.4%
Operating Income

$112M

Previous: $170M-33.7%

Revenue & EPS history

CubeSmart · Revenue · Quarterly

$279M

Q4 2025-73.9%vs Q4 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Forward guidance

For 2026, CubeSmart expects stable occupancy and modest same-store revenue and NOI growth.

Tailwinds

  • Anticipates positive same-store revenue growth.
  • Continued disciplined expense management.
  • Strong balance sheet and liquidity position.
  • Ongoing third-party management expansion.
  • Focus on capital allocation and shareholder returns.

Headwinds

  • Potential pressure on occupancy from competitive supply.
  • Macroeconomic uncertainty impacting move-in demand.
  • Interest rate volatility affecting financing costs.
  • Expense growth may outpace revenue in certain markets.
  • Limited external growth opportunities in some regions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.5%

Avg return

Earnings day

+0.2%

Avg return

5 days after

+1.0%

Avg return

30 days after

52%

33 / 64 earnings

Positive

+10.8%

Q1 2020

Best reaction

-6.9%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.8%-0.5%-1.2%
Q4 2025-1.5%-1.5%-12.7%
Q3 2025-5.3%-3.4%-4.7%
Q1 2025+3.8%+3.0%+4.4%
Q4 2024-2.9%+1.7%-2.7%
Q3 2024-1.9%+1.7%+2.7%
Q2 2024+2.4%-0.1%+8.9%
Q1 2024-3.2%-4.0%-0.0%
Q4 2023+2.2%+4.4%+1.8%
Q3 2023+6.7%+6.1%+20.6%
Q2 2023-4.9%-3.4%-2.9%
Q1 2023+0.9%-2.0%-0.6%
Q4 2022+1.1%-0.2%-2.7%
Q3 2022+6.9%+6.5%+3.1%
Q2 2022+4.4%+7.0%+1.0%
Q1 2022-6.9%-9.0%-11.1%
Q4 2021+3.3%+1.3%+4.8%
Q3 2021+1.4%-2.7%-3.5%
Q2 2021+1.2%+2.6%+7.5%
Q1 2021+2.6%+1.5%+6.1%
Q4 2020-2.8%-7.1%-1.1%
Q3 2020-2.2%-2.9%-4.3%
Q2 2020+3.5%+4.5%+9.5%
Q1 2020+10.8%+1.4%+22.4%
Q4 2019+2.7%+1.9%-32.5%
Q3 2019-6.8%-7.0%-10.6%
Q2 2019+0.0%+0.8%+5.4%
Q1 2019+1.4%+1.5%+7.3%
Q4 2018-0.9%+2.2%+8.4%
Q3 2018-0.1%+3.2%+6.4%
Q2 2018-2.4%-0.2%+0.8%
Q1 2018+5.1%+6.6%+9.3%
Q4 2017+0.3%-0.6%+7.7%
Q3 2017+3.4%+5.0%+12.5%
Q2 2017-2.3%-0.4%+0.1%
Q1 2017-6.3%-7.4%-7.4%
Q4 2016+6.8%+4.0%+2.4%
Q3 2016-2.3%-2.7%-7.2%
Q2 2016-0.8%-2.3%-9.5%
Q1 2016-2.1%
Q4 2015+1.2%
Q3 2015-2.1%
Q2 2015+1.7%
Q1 2015+2.3%
Q4 2014-1.8%
Q3 2014+5.3%
Q2 2014+2.9%
Q1 2014-0.3%
Q4 2013-0.5%
Q3 2013-6.2%
Q2 2013+4.2%
Q1 2013-0.3%
Q4 2012+1.4%
Q3 2012-0.5%
Q2 2012+0.9%
Q1 2012+0.0%
Q4 2011+0.0%
Q3 2011+0.1%
Q2 2010+4.1%
Q2 2011+4.1%
Q1 2011-0.5%
Q4 2010-3.0%
Q3 2010+1.7%
Q1 2010+4.6%

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