CubeSmart

CUBE · NYSE

$39.35+$0.77 (+2.00%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $38.58

CUBE analyst rating

BuyConsensus of 12 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy6
Hold6
Underperform0
Sell0

12-month price target · 18 analysts

Average $44.95 (+14.2% upside)

Low: $40.40
Now: $39.35
High: $50.40

Upgrades and downgrades

The latest rating actions, newest first

CUBE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Oct 16, 2026	Maintains	Neutral	$43.00 → $38.00	45%
Truist Securities	Oct 2, 2026	Initiates	Buy	$43.00 → $41.00	54%
Evercore ISI Group	Sep 21, 2026	Maintains	Outperform	$48.00 → $46.00	45%
Mizuho	Sep 2, 2026	Maintains	Neutral	$42.00 → $41.00	33%
Wells Fargo	Jul 24, 2026	Maintains	Equal-Weight	$40.00 → $42.00	43%
Raymond James	Jul 16, 2026	Initiates	Outperform	$44.00	39%
UBS	Jul 10, 2026	Maintains	Neutral	$41.00 → $43.00	45%
Barclays	Jul 10, 2026	Upgrade	Equal-Weight → Overweight	$45.00 → $46.00	32%
Evercore ISI Group	Jul 6, 2026	Maintains	Outperform	$48.00 → $47.00	45%
Truist Securities	Jun 17, 2026	Maintains	Buy	$41.00 → $43.00	45%

The case for and against

Updated Oct 21, 2026

Bull case

CubeSmart is supported by an attractive valuation, with an implied cap rate of about 5.9% and a strong balance sheet that sits below its long-term leverage target, giving it flexibility for repurchases, joint ventures, and future acquisitions. Its 1Q26 results showed the first positive same-store revenue growth since mid 2024, aided by higher YoY move-in rates, slightly higher April rates, and a narrowing occupancy gap, while the urban and NYC-heavy portfolio should benefit from demand outstripping supply over time. The third-party management business remains competitive, and improving fundamentals alongside a potentially higher credit rating provide additional upside as the self-storage market normalizes.

Bear case

CubeSmart is facing a weaker fundamental setup as management and analysts have already trimmed 2026 normalized FFO to $2.56 per share, a penny below the $2.57 consensus and the midpoint of the $2.52-$2.60 guidance range. The outlook is pressured by observed softening in self-storage pricing surveys, slower-than-expected demand tied to low moving velocity, and the risk that higher supply or stronger promotions could further weigh on street rates and occupancy. Its heavy exposure to the NYC MSA, plus increased competition in third-party management and sensitivity to credit markets and regulatory scrutiny, adds additional downside to rental income stability and FFO growth.

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