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CubeSmart reported total revenues of $1.12 billion for FY 2025, representing a 5.3% increase from the prior year. Net income attributable to the company was $333.8 million, a 14.7% decrease from FY 2024. The company's revenue growth was primarily driven by acquisitions and new store openings, with rental income reaching $956.6 million and property-related income at $166.5 million. However, operating expenses increased by 10.6% to $674.2 million, and interest expense rose by 25.6% to $114.1 million due to higher average debt balances and interest rates. The company maintained strong operating cash flow of $608.5 million and ended the year with $6.64 billion in total assets. Key markets including New York (17% of revenue), Florida (14%), Texas (11%), and California (10%) contributed significantly to overall performance.
EPS
$1.00
Revenue
$1.12B
Net Income
$333.8M
free cash flow
$37.2M
operating margin
29.6%