CubeSmart
What the filings actually show.
CubeSmart Q1 2026 same-store revenue +0.6% YoY — the first positive print since mid-2024. Facility count 1,524 (662 wholly-owned + 862 managed). Same-store occupancy 89.3%. Revenue per sqft from FY2025 10-K $22.73 (highest of the Big 4) — but this is a FY2025 figure not restated in the Q1 2026 10-Q narrative.
What this REIT does that the others don't.
Smallest of the Big 4 by owned facility count but operates the highest revenue-per-sqft in the group. CUBE's owned portfolio skews to higher-revenue facilities in tighter-supply metros; the company has been more selective in acquisitions than PSA or EXR.
What to watch through the year.
The first positive same-store revenue print in over six quarters is the 2026 turning point. CUBE management commentary attributes the recovery to coastal-market exposure (less Sun Belt drag than competitors). Watch for continued same-store acceleration through Q2-Q3 2026.
Where these numbers come from.
Q1 2026 10-Q filed 2026-05-01. FY2025 10-K filed February 2026 (period ending 2025-12-31). Revenue-per-sqft figure used here is from the 10-K — labelled as FY2025 on the per-REIT page.
↗ https://www.sec.gov/Archives/edgar/data/0001298675/000129867526000010/cube-20251231x10k.htm