CubeSmart Q4 EPS falls

CubeSmart

26/02/2026 21:27

Overview

Self-storage REIT's Q4 diluted EPS fell to $0.34, with net income down yr/yr

Same-store NOI decreased 1.1% yr/yr due to higher operating expenses

Company repurchased 0.9 mln shares for $31.9 mln

Outlook

CubeSmart estimates 2026 diluted EPS between $1.55 and $1.63

Company expects 2026 FFO per share, as adjusted, between $2.52 and $2.60

CubeSmart sees 2026 same-store NOI growth between -1.75% and 0.25%

Result Drivers

SAME-STORE NOI DECLINE - Same-store NOI decreased 1.1% due to a 0.1% decrease in revenues and a 2.9% increase in operating expenses

ACQUISITIONS AND REDEMPTIONS - Co acquired two stores for $49 mln and redeemed $300 mln of unsecured senior notes

THIRD-PARTY MANAGEMENT EXPANSION - Added 27 stores to third-party management platform, increasing total to 862 stores

Company press release: ID:nGNX16GnG4

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Rental income
$223.07 mln
Q4 EPS
$0.34
Q4 Net Income
$77.72 mln
Q4 Adjusted FFO
$147.3 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy."

Wall Street's median 12-month price target for CubeSmart is $41.00, about 3.2% above its February 25 closing price of $39.71

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)