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CubeSmart CUBE NY — Development In Process

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Other financials

Income statement

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Revenue$281.9M+3.3%
Gross profit$191.9M+0.9%
Net income$82.8M-6.8%
EPS (diluted)$0.36-7.7%

Balance sheet

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Cash & equivalents$7.3M-32.5%
Total debt$65.5M-0.2%
Total equity$2.6B-6.9%
Total assets$6.6B-2.1%

Cash flow

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Operating cash flow$148.8M+1.7%

Valuation

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Market cap$9.42B+4.6%
Enterprise value$9.48B+4.6%
P/E29×+4.9×
P/S8.3×+0.1×

Profitability

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Gross margin68.3%-1.6pp
Operating margin37.8%
Net margin28.7%-7.1pp

Returns & leverage

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Return on equity11.8%-1.9pp
Debt / equity0.0×

Where this comes from

Reported directly by CubeSmart in its filing.

Tagged under the XBRL concept us-gaap:DevelopmentInProcess.

The source filing: CubeSmart’s 10-Q, filed May 1, 2026.

Filed
May 1, 2026, 4:30 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001298675-26-000018

As of March 31, 2026, the Company held an ownership interest in a consolidated joint venture to develop a single self-storage property located in New York. Construction for this project is expected to be completed during the third quarter of 2027. As of March 31, 2026, development costs incurred to date for this project totaled $9.3 million. Total costs for this project are expected to be $28.0 million. These costs are capitalized to construction in progress while the projects are under development and are reflected in Storage properties on the Company’s consolidated balance sheets.

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is CubeSmart's NY — development in process?
CubeSmart (CUBE) reported NY — development in process of $9.3M in Q1 2026.
How has CubeSmart's NY — development in process changed year-over-year?
CubeSmart's NY — development in process decreased by 70.4% year-over-year, from $31.4M to $9.3M.
What does NY — development in process mean?
The total capital investment currently allocated to storage projects under construction or in the pre-development phase within the region. It represents the pipeline of future capacity that has not yet reached stabilized operations.

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