CubeSmart

CUBE 10-K · FY 2025

CUBE FY 2025 request

Playground key active
Request URL /api/financials?ticker=CUBE&year=2025&quarter=4&full_year_mode=true
waiting 0 ms
Pick an endpoint and run the request.
curl

Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Operating Lease Lease Income 956,647 911,161 +5.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 956,647 911,161 +5.0%
Revenue (FY)
Show Product Lines breakouts
Management Service 40,244 41,424 -2.8%
Management Service · CubeSmart, L.P. and Subsidiaries 40,244 41,424 -2.8%
Real Estate Other 126,219 113,646 +11.1%
Real Estate Other · CubeSmart, L.P. and Subsidiaries 126,219 113,646 +11.1%
Revenue 1,123,110 1,066,231 +5.3%
Show Business Segments breakouts
Self-storage segment 1,123,110 1,066,231 +5.3%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 1,123,110 1,066,231 +5.3%
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 63,613 100,049 -36.4%
Cost of Revenue 351,405 317,750 +10.6%
Show Business Segments breakouts
Self-storage segment 351,405 317,750 +10.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 351,405 317,750 +10.6%
Depreciation And Amortization 258,151 205,703 +25.5%
Show Business Segments breakouts
Self-storage segment 258,151 205,703 +25.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 258,151 205,703 +25.5%
General & Administrative 64,655 59,663 +8.4%
Show Business Segments breakouts
Self-storage segment 64,655 59,663 +8.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 64,655 59,663 +8.4%
Total Costs & Expenses 674,211 583,116 +15.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 674,211 583,116 +15.6%
Interest Expense Debt Excluding Amortization -114,099 -90,820 -25.6%
Show Business Segments breakouts
Self-storage segment -114,099 -90,820 -25.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -114,099 -90,820 -25.6%
Amortization of Financing Costs -4,972 -4,067 -22.3%
Show Business Segments breakouts
Self-storage segment -4,972 -4,067 -22.3%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -4,972 -4,067 -22.3%
Gains Losses On Extinguishment Of Debt -3,692
Show Business Segments breakouts
Self-storage segment -3,692
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -3,692
Income Loss From Equity Method Investments 2,460 2,499 -1.6%
Show Business Segments breakouts
Self-storage segment 2,460 2,499 -1.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 2,460 2,499 -1.6%
Other Non-Operating Income (Expense) 2,721 1,158 +135.0%
Show Business Segments breakouts
Self-storage segment 2,721 1,158 +135.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 2,721 1,158 +135.0%
Other Nonoperating Income Expense Net -117,582 -91,230 -28.9%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -117,582 -91,230 -28.9%
Net Income 331,317 391,885 -15.5%
Show Business Segments breakouts
Self-storage segment 331,317 391,885 -15.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 331,317 391,885 -15.5%
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 3,725 3,557 +4.7%
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable -1,625 -2,159 +24.7%
Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable 4,090 1,454 +181.3%
Net Income Loss Available To Common Stockholders Basic 333,782 391,180 -14.7%
EPS (Basic) 1.46 1.73 -15.6%
EPS (Diluted) 1.46 1.72 -15.1%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 1.46 1.72 -15.1%
Wtd Avg Shares (Basic) 228,727 226,353 +1.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 229,844 227,603 +1.0%
Wtd Avg Shares (Diluted) 229,160 227,150 +0.9%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 230,277 228,400 +0.8%
Income Loss Including Portion Attributable To Noncontrolling Interest (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 331,317 391,885 -15.5%
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 4,090 1,454 +181.3%
Net Income Loss Allocated To General Partners (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 335,407 393,339 -14.7%
Net Income Loss Per Outstanding General Partnership Unit Net Of Tax (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 1.46 1.73 -15.6%
Comprehensive Income 333,863 391,261 -14.7%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 335,488 393,420 -14.7%
Labor And Related Expense (FY)
Show Business Segments breakouts
Self-storage segment 94,988 87,418 +8.7%
Marketing And Advertising Expense 30.3 26 +16.5%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 5,782 71,560 -91.9%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 5,782 71,560 -91.9%
CubeSmart, L.P. and Subsidiaries · Variable Interest Entity Primary Beneficiary 4,397 2,907 +51.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 4,397 2,907 +51.3%
Non-Current Assets
Total Assets 6,643,193 6,394,181 +3.9%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 6,643,193 6,394,181 +3.9%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 380,031
Variable Interest Entity Primary Beneficiary · 1074 Raritan Road, LLC 15,190
Variable Interest Entity Primary Beneficiary · 350 Main Street, LLC 17,254
Variable Interest Entity Primary Beneficiary · Astoria Investors, LLC 44,562
Variable Interest Entity Primary Beneficiary · C S Lock Up Anoka LLC 9,226
Variable Interest Entity Primary Beneficiary · CS Valley Forge Village Storage LLC 17,862
Variable Interest Entity Primary Beneficiary · CS Vienna LLC 28,363
Variable Interest Entity Primary Beneficiary · Hines Capital 171,219
Variable Interest Entity Primary Beneficiary · New Rochelle Investors LLC 41,278
Variable Interest Entity Primary Beneficiary · SH3, LLC 35,077
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 383,277 701,193 -45.3%
Operating Lease Right-of-Use Assets 48,420 49,435 -2.1%
Other Assets
Real Estate Investment Property At Cost 8,134,189 7,628,774 +6.6%
Show Schedule of Real Estate Investment, Property [Axis] breakouts
Building And Building Improvements 6,203,371 5,759,848 +7.7%
Construction In Progress 34,599 33,723 +2.6%
Equipment 140,027 147,709 -5.2%
Land 1,714,247 1,645,549 +4.2%
Right-of-use assets - finance leases 41,945 41,945 0.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 8,134,189 7,628,774 +6.6%
Real Estate Investment Property Accumulated Depreciation -1,758,340 -1,590,588 -10.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -1,758,340 -1,590,588 -10.5%
Real Estate Investment Property Net 6,375,849 6,038,186 +5.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 6,375,849 6,038,186 +5.6%
CubeSmart, L.P. and Subsidiaries · Variable Interest Entity Primary Beneficiary 373,687 363,315 +2.9%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 373,687 363,315 +2.9%
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 367,994 684,067 -46.2%
Restricted Cash And Cash Equivalents 4,451 6,103 -27.1%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 4,451 6,103 -27.1%
CubeSmart, L.P. and Subsidiaries · Variable Interest Entity Primary Beneficiary 2,552 4,439 -42.5%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 2,552 4,439 -42.5%
Debt Issuance Costs Line Of Credit Arrangements Net 1,803 2,731 -34.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 1,803 2,731 -34.0%
Equity Method Investments 74,034 91,973 -19.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 74,034 91,973 -19.5%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Fontana 12,837 13,200 -2.8%
HHF 29,894 31,253 -4.3%
HHFNE 1,230 1,469 -16.3%
HVP V 10,505 11,353 -7.5%
RCSS 19,568 20,107 -2.7%
Ventures 74,034 91,973 -19.5%
Other Assets 181,274 183,628 -1.3%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 181,274 183,628 -1.3%
Non-Current Liabilities
Accounts Payable And Accrued Liabilities Current And Noncurrent 229,666 229,581 0.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 229,666 229,581 0.0%
Dividends Payable Current And Noncurrent 121,519 119,600 +1.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 121,519 119,600 +1.6%
Total Liabilities 3,861,117 3,440,313 +12.2%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 3,861,117 3,440,313 +12.2%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 247,010
Variable Interest Entity Primary Beneficiary · 1074 Raritan Road, LLC 11,030
Variable Interest Entity Primary Beneficiary · 350 Main Street, LLC 11,475
Variable Interest Entity Primary Beneficiary · Astoria Investors, LLC 30,786
Variable Interest Entity Primary Beneficiary · C S Lock Up Anoka LLC 5,588
Variable Interest Entity Primary Beneficiary · CS Valley Forge Village Storage LLC 14,908
Variable Interest Entity Primary Beneficiary · CS Vienna LLC 34,285
Variable Interest Entity Primary Beneficiary · Hines Capital 120,147
Variable Interest Entity Primary Beneficiary · New Rochelle Investors LLC 18,474
Variable Interest Entity Primary Beneficiary · SH3, LLC 317
Long-Term Debt (Q)
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 3,402,762 2,986,546 +13.9%
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 249,449 472,633 -47.2%
Other Liabilities
Unsecured Senior Notes Net 2,925,103 2,780,631 +5.2%
Show Debt Instrument breakouts
Senior Notes -2,925,103 -2,780,631 -5.2%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 2,925,103 2,780,631 +5.2%
Line Of Credit 378,800
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 378,800
Notes And Loans Payable 98,859 205,915 -52.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 98,859 205,915 -52.0%
CubeSmart, L.P. and Subsidiaries · Variable Interest Entity Primary Beneficiary 7,092 111,728 -93.7%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 7,092 111,728 -93.7%
Show Long-Term Debt Type breakouts
Mortgages 98,859 205,915 -52.0%
Finance Lease Liability 65,579 65,668 -0.1%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 65,579 65,668 -0.1%
Deferred Revenue 41,591 38,918 +6.9%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 41,591 38,918 +6.9%
Redeemable Noncontrolling Interest Equity Carrying Amount 36,167 51,193 -29.4%
Show Temporary Equity [Axis] breakouts
Noncontrolling Interests in the Operating Partnership 36,167 51,193 -29.4%
Noncontrolling Interests in the Operating Partnership · CubeSmart, L.P. and Subsidiaries 36,167 51,193 -29.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 36,167 51,193 -29.4%
Stockholders' Equity
Total Liabilities & Equity 6,643,193 6,394,181 +3.9%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 6,643,193 6,394,181 +3.9%
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 383,277 701,193 -45.3%
Common Stock 2,273 2,278 -0.2%
Additional Paid-In Capital 4,302,554 4,285,570 +0.4%
Accumulated Other Comprehensive Income -249 -330 +24.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -249 -330 +24.5%
Retained Earnings -1,585,135 -1,415,662 -12.0%
Total Stockholders' Equity 2,719,443 2,871,856 -5.3%
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 43,917 60,993 -28.0%
Minority Interest 26,466 30,819 -14.1%
Show Equity Method Investment Nonconsolidated Investee breakouts
Ventures 84,687 150,105 -43.6%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 2,745,909 2,902,675 -5.4%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -249 -330 +24.5%
Additional Paid In Capital 4,302,554 4,285,570 +0.4%
Aoci Attributable To Noncontrolling Interest 2 2 0.0%
Aoci Including Portion Attributable To Noncontrolling Interest -251 -332 +24.4%
Common Stock 2,273 2,278 -0.2%
Noncontrolling Interest 26,466 30,819 -14.1%
Parent 2,719,443 2,871,856 -5.3%
Retained Earnings -1,585,135 -1,415,662 -12.0%
General Partners Capital Account (Q)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 2,719,692 2,872,186 -5.3%
Partners Capital (Q)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 2,719,443 2,871,856 -5.3%
Partners Capital Attributable To Noncontrolling Interest (Q)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 26,466 30,819 -14.1%
Partners Capital Including Portion Attributable To Noncontrolling Interest (Q)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 2,745,909 2,902,675 -5.4%
CubeSmart, L.P. and Subsidiaries · Accumulated Other Comprehensive Income -249 -330 +24.5%
CubeSmart, L.P. and Subsidiaries · General Partner 2,719,692 2,872,186 -5.3%
CubeSmart, L.P. and Subsidiaries · Noncontrolling Interest 26,466 30,819 -14.1%
CubeSmart, L.P. and Subsidiaries · Parent 2,719,443 2,871,856 -5.3%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciation & Amortization 263,123 209,770 +25.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 263,123 209,770 +25.4%
Finance Lease Non Cash Portion Of Interest Expense -89 -46 -93.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -89 -46 -93.5%
Equity Method Investment Dividends Or Distributions 3,971 4,661 -14.8%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 3,971 4,661 -14.8%
Stock-Based Compensation 11,544 11,487 +0.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 11,544 11,487 +0.5%
Fair Value Adjustment Of Debt 268 -295 +190.8%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 268 -295 +190.8%
Increase Decrease In Other Operating Assets -6,079 -7,469 +18.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -6,079 -7,469 +18.6%
Increase Decrease In Accounts Payable And Accrued Liabilities 2,477 24,025 -89.7%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 2,477 24,025 -89.7%
Increase Decrease In Other Operating Liabilities 748 -445 +268.1%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 748 -445 +268.1%
Net Cash from Operations 608,512 631,074 -3.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 608,512 631,074 -3.6%
Investing Activities
Payments To Acquire Real Estate -49,681 -42,402 -17.2%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -49,681 -42,402 -17.2%
Payments For Additions And Improvements To Real Estate -44,786 -43,575 -2.8%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -44,786 -43,575 -2.8%
Payments To Develop Real Estate Assets -28,050 -29,959 +6.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -28,050 -29,959 +6.4%
Payments To Acquire Partners Interest In Real Estate Partnership Net Of Cash Acquired -451,141
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -451,141
Distributions Payable To Real Estate Partnerships -827 -1,301 +36.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -827 -1,301 +36.4%
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital 3,162 5,454 -42.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 3,162 5,454 -42.0%
Net Cash from Investing -571,323 -173,959 -228.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -571,323 -173,959 -228.4%
Derivative Valuation Adjustment 81 81 0.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 81 81 0.0%
Capital Expenditures (FY)
Show Schedule of Real Estate Investment, Property [Axis] breakouts
Arizona and Florida assets · 2025 Acquisitions 49
Arizona Asset November 2025 · 2025 Acquisitions 17,500
Florida Asset December 2025 · 2025 Acquisitions 31,500
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
HVP IV · 2025 Acquisitions 452,785
Show Property Plant And Equipment By Type breakouts
2025 Acquisitions 501,785
Financing Activities
Proceeds From Issuance Of Senior Long Term Debt 443,952
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 443,952
Proceeds From Lines Of Credit 1,403,877 697,039 +101.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 1,403,877 697,039 +101.4%
Repayments Of Unsecured Debt -300,000
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -300,000
Repayments Of Lines Of Credit -1,025,077 -715,139 -43.3%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -1,025,077 -715,139 -43.3%
Payments Of Mortgage Loans And Notes Payable -109,185 -32,341 -237.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -109,185 -32,341 -237.6%
Payments Of Loan Costs -4,271
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -4,271
Debt Prepayment Costs -1,100
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -1,100
Proceeds From Issuance Of General Partners Units (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -452 118,270 -100.4%
Payments For Repurchase Of Operating Partnership Units (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -31,916
Tax Withholding for Share Compensation -3,264 -1,044 -212.6%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -3,264 -1,044 -212.6%
Payments For Repurchase Of Redeemable Preferred Stock (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -3,654
Payments For Redemption Of Operating Partnership Units -3,654
Proceeds From Unit Options Exercised (FY)
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 5,406 9,941 -45.6%
Proceeds From Minority Shareholders 303 372 -18.5%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 303 372 -18.5%
Payments To Minority Shareholders -566 -418 -35.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -566 -418 -35.4%
Payments Of Dividends Common Stock -476,309 -461,769 -3.1%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -478,672 -464,349 -3.1%
Net Cash from Financing -104,619 -387,669 +73.0%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -104,619 -387,669 +73.0%
Proceeds From Issuance Of Common Stock -452 118,270 -100.4%
Share Repurchases -31,916
Proceeds From Stock Options Exercised 5,406 9,941 -45.6%
Payments To Minority Shareholders In Operating Partnership -2,363 -2,580 +8.4%
Debt Repayments (FY)
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
HVP IV 44.4
Supplemental
Interest Paid 106,830 92,609 +15.4%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 106,830 92,609 +15.4%
Other Cash Flow
Net Change in Cash -67,430 69,446 -197.1%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries -67,430 69,446 -197.1%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 10,233 77,663 -86.8%
Show Legal Entity breakouts
CubeSmart, L.P. and Subsidiaries 10,233 77,663 -86.8%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

Get API Key