CubeSmart Q1 2026 Earnings Release

CubeSmart announced its first quarter 2026 financial results, reporting diluted EPS of $0.36 and adjusted FFO per diluted share of $0.63. Same-store revenue saw a 0.6% increase, while operating expenses rose by 5.8%, leading to a 1.5% decrease in same-store Net Operating Income (NOI). The company opened one development property and acquired a store through a joint venture. Share repurchases amounted to $33.4 million. Third-party managed stores increased by 33, totaling 854. For the full year 2026, CubeSmart projects diluted EPS between $1.55 and $1.63, and adjusted diluted FFO per share between $2.52 and $2.60. Interest expenses increased due to higher debt balances and interest rates.