CubeSmart CUBE
CubeSmart functions as an independent real estate investment trust (REIT), overseeing both its administration and management. The company's self-storage facilities deliver secure, convenient, and budget-friendly storage options for both private individuals and commercial entities. According to data from the 2020 Self-Storage Almanac, CubeSmart ranks among the top three owners and operators of self-storage properties nationwide.
Snapshot
Reported FFO / FFO, as adjusted / leverage are from the Q1 2026 earnings release (filed 2026-06-01) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-07-01 | 2026-07-01 | 2026-07-15 | 2026-05-19 | $0.53 | Quarterly |
| 2026-04-01 | 2026-04-01 | 2026-04-15 | 2026-02-24 | $0.53 | Irregular |
| 2026-01-02 | 2026-01-02 | 2026-01-16 | 2025-12-15 | $0.53 | Quarterly |
| 2025-10-01 | 2025-10-01 | 2025-10-15 | 2025-07-29 | $0.52 | Quarterly |
| 2025-07-01 | 2025-07-01 | 2025-07-15 | 2025-05-20 | $0.52 | Quarterly |
| 2025-04-01 | 2025-04-01 | 2025-04-15 | 2025-02-25 | $0.52 | Irregular |
| 2025-01-02 | 2025-01-02 | 2025-01-16 | 2024-12-13 | $0.52 | Quarterly |
| 2024-10-01 | 2024-10-01 | 2024-10-15 | 2024-07-23 | $0.51 | Quarterly |
| 2024-07-01 | 2024-07-01 | 2024-07-15 | 2024-05-21 | $0.51 | Quarterly |
| 2024-03-28 | 2024-04-01 | 2024-04-15 | 2024-03-18 | $0.51 | Quarterly |
| 2023-12-29 | 2024-01-02 | 2024-01-16 | 2023-12-07 | $0.51 | Quarterly |
| 2023-09-29 | 2023-10-02 | 2023-10-16 | 2023-07-25 | $0.49 | Quarterly |
| 2023-06-30 | 2023-07-03 | 2023-07-17 | 2023-05-16 | $0.49 | Quarterly |
| 2023-03-31 | 2023-04-03 | 2023-04-17 | 2023-02-22 | $0.49 | Quarterly |
| 2022-12-30 | 2023-01-03 | 2023-01-17 | 2022-12-07 | $0.49 | Quarterly |
| 2022-09-30 | 2022-10-03 | 2022-10-17 | 2022-07-26 | $0.43 | Quarterly |
| 2022-06-30 | 2022-07-01 | 2022-07-15 | 2022-05-17 | $0.43 | Quarterly |
| 2022-03-31 | 2022-04-01 | 2022-04-18 | 2022-02-23 | $0.43 | Quarterly |
| 2021-12-31 | 2022-01-03 | 2022-01-18 | 2021-11-02 | $0.43 | Quarterly |
| 2021-09-30 | 2021-10-01 | 2021-10-15 | 2021-07-27 | $0.34 | Quarterly |
| 2021-06-30 | 2021-07-01 | 2021-07-15 | 2021-05-12 | $0.34 | Quarterly |
| 2021-03-31 | 2021-04-01 | 2021-04-15 | 2021-02-23 | $0.34 | Quarterly |
| 2020-12-31 | 2021-01-04 | 2021-01-15 | 2020-12-08 | $0.34 | Quarterly |
| 2020-09-30 | 2020-10-01 | 2020-10-15 | 2020-07-29 | $0.33 | Quarterly |
Coverage (payout of operating cash flow): 79.42%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $1.12B | $333.78M | $258.15M | $703.57M | $611.67M |
| 2024 | $1.07B | $391.18M | $205.70M | $688.82M | $631.07M |
| 2023 | $1.05B | $410.76M | $205.38M | $710.88M | $611.14M |
| 2022 | $1.01B | $291.26M | $310.61M | $603.08M | $591.47M |
| 2021 | $822.56M | $223.48M | $232.05M | $462.86M | $449.19M |
| 2020 | $679.36M | $165.62M | $156.57M | $414.30M | $351.03M |
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.