CubeSmart (CUBE)

Over the past six months, CubeSmart's stock price has declined, with the share price at $36.03 as of November 17, 2025, a 25.89% decrease from November 18, 2024. The stock was down 14.30% over the past 12 months as of October 24, 2025. In Q1 2025, adjusted FFO was $0.64 per diluted share, a 1.5% decrease year-over-year. In Q2 2025, the company reported better-than-expected earnings and raised its guidance for the remainder of 2025. In Q3 2025, diluted EPS was $0.36, and adjusted FFO per diluted share was $0.65, a 3.0% decrease from Q3 2024. In Q4 2024, adjusted FFO per diluted share decreased 2.9% to $0.68 compared to the same period in 2023. In March 2025, CubeSmart acquired a two-store portfolio in Connecticut for $20.2 million. Analysts currently have a "Hold" consensus rating for CubeSmart, with an average target price of $45.94.

The self-storage industry experiences demand seasonality, with summer historically being a "supercharged season" driven by life transitions. CubeSmart has observed signs of stabilization after a period of uncharacteristically high demand during the pandemic. The company's Q2 2025 earnings reflected a seasonal uplift in demand, and management anticipates further improvement heading into the peak leasing season. Demand is also influenced by factors like urbanization, downsizing, and the growth of e-commerce fulfillment.

CubeSmart is a self-administered and self-managed REIT specializing in self-storage solutions, operating within the Real Estate sector, specifically in the Storage & Warehouse Leasing industry. The company acquires, owns, operates, develops, and manages self-storage properties across the United States. Its major products and services include various storage unit sizes, climate-controlled units, drive-up access, and enhanced security features. CubeSmart also provides packing and moving supplies, moving truck rentals, moving and labor assistance, and specialized storage for vehicles, RVs, boats, and motorcycles.

As of September 17, 2025, CubeSmart operates over 1,500 self-storage locations across 43 states and territories in the United States, focusing on dense metropolitan statistical areas (MSAs). Over 90% of its store-level net operating income is generated from the top 40 MSAs. Key states with a significant number of CubeSmart locations include Texas, Florida, and New York. Its facilities are present in states such as Florida, Pennsylvania, New Jersey, Georgia, Maryland, New York, Arizona, North Carolina, Texas, Nevada, Illinois, and California.

CubeSmart generally maintains a positive brand reputation, often highlighted by customers for its clean and well-maintained facilities, good security measures, and convenient access to storage units. The company emphasizes customer satisfaction through flexible lease terms, online rental processes, and a mobile app for managing units. However, some customer reviews have pointed to frequent and significant rent increases, poor customer service experiences, and a lack of communication from management as areas of concern.

CubeSmart's ownership structure is predominantly institutional, with institutional investors holding the vast majority of the company's shares. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., State Street Corp, Fmr Llc, Price T Rowe Associates Inc /md/, Norges Bank, T. Rowe Price Investment Management, Inc., and JPMorgan Chase & Co. The largest individual insider shareholder is Todd C. Amsdell, who owns 15.89 million shares, representing 6.97% of the company.