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Cubesmart (CUBE)
NYSE:CUBE
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.35Last Year’s EPS
0.39Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed an optimistic tone centered on clear operational inflection: move-in rates turned positive, the occupancy gap narrowed, same-store revenue stabilized (Q4 -0.1%), and management provided constructive 2026 FFO guidance ($2.52–$2.60). Strategic capital actions (expanded buyback authorization, a $250M JV with CBRE IM, and selective acquisitions) and a favorable balance sheet support a return-to-growth narrative. Offsetting risks include near-term expense pressures (Q4 expense growth +2.9%), weather-related costs, ongoing variability across supply-impacted markets, limited accretive on-balance-sheet buying opportunities due to public/private valuation disconnect, and localized regulatory/legal risk in New York. Overall, the positive momentum, clear plan for capital deployment, and declining supply headwinds materially outweigh the near-term operational and expense challenges.Company Guidance
Improving Move-in Rate Momentum
Sequential improvement in year-over-year quarterly move-in rates: Q4 2024 -10.0% -> Q1 2025 -8.3% -> Q2 2025 -4.0% -> Q3 2025 +2.5% -> Q4 2025 +2.8%; early 2026 move-ins remain positive and generally in line with Q4 results.
Occupancy Gap Narrowing
Occupancy at the end of January 2026 was 88.7%; the year-over-year occupancy gap improved from being down ~70 basis points at year-end to approximately -40 basis points versus January 2025, indicating a narrowing gap as 2026 begins.
Same-Store Revenue Stabilization
Same-store revenue growth accelerated from Q3 to Q4 2025, finishing the quarter just shy of flat at -0.1%, signaling stabilization of top-line trends heading into 2026.
FFO and 2026 Guidance
Reported adjusted FFO per share of $0.64 in Q4 2025; company issued 2026 FFO per share guidance of $2.52 to $2.60, providing a concrete path to recovery.
Dividend Increase and Yield
Quarterly dividend raised 1.9% to an annualized $2.12 per share; represented a ~5.3% yield on yesterday's closing price (per management).
Strategic Capital Allocation Actions
Board expanded share repurchase authorization to ~ $475 million in capacity; management indicated ~$100 million annual free cash flow could support leverage-neutral repurchases; executed repurchases during Q4 2025.
JV with CBRE Investment Management
Announced a $250 million joint venture mandate with CBRE IM to pursue core/core-plus/value-add opportunities in high-growth markets, expanding third-party capital avenues.
Selective Acquisitions and Historical Accretive Investments
Closed two on-balance-sheet acquisitions for $49 million in Q4 2025; referenced prior accretive structured investments totaling $610 million in late 2024/early 2025 (underwritten in low-5% initial cap-rate range, stabilizing into ~6% in year 2/2.5).
Portfolio Quality and Supply Headwinds Diminishing
Only ~19% of same-store assets are projected to face competing new supply in 2026 (3-year rolling basis), down from 24% in 2025 and a 2019 peak of ~50%, reducing the magnitude of competitive headwinds.
Strong Balance Sheet Positioning
Net debt to EBITDA ended the year at 4.8x; management characterized credit metrics as favorable to maintaining investment-grade ratings and outlined plans to opportunistically access the bond market in 2026 to optimize liquidity and repay revolver/bond maturities.
CUBE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CUBE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $40.21 | $41.14 | +2.31% |
Oct 30, 2025 | $38.48 | $37.12 | -3.56% |
Jul 31, 2025 | $37.85 | $38.81 | +2.54% |
May 01, 2025 | $39.34 | $40.90 | +3.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cubesmart (CUBE) report earnings?
Cubesmart (CUBE) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Cubesmart (CUBE) earnings time?
Cubesmart (CUBE) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CUBE EPS forecast?
CUBE EPS forecast for the fiscal quarter 2026 (Q1) is 0.35.