2024 Q1 Form 10-K Financial Statement

#000129867524000011 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $261.4M $265.1M $1.050B
YoY Change 1.9% 1.59% 4.03%
Cost Of Revenue $77.04M $71.29M $294.8M
YoY Change 8.31% -1.66% 0.52%
Gross Profit $184.4M $193.8M $755.6M
YoY Change -0.56% 2.84% 5.47%
Gross Profit Margin 70.53% 73.11% 71.93%
Selling, General & Admin $15.63M $13.98M $81.54M
YoY Change 6.48% 7.69% 5.87%
% of Gross Profit 8.47% 7.21% 10.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $50.72M $51.60M $201.2M
YoY Change 0.77% -26.76% -35.21%
% of Gross Profit 27.51% 26.62% 26.63%
Operating Expenses $66.34M $64.55M $282.8M
YoY Change 2.06% -21.68% -27.05%
Operating Profit $118.0M $129.3M $472.8M
YoY Change -1.97% 21.88% 43.82%
Interest Expense -$23.10M -$22.05M -$91.12M
YoY Change 4.17% -5.03% 88.64%
% of Operating Profit -19.58% -17.06% -19.27%
Other Income/Expense, Net -$65.00K $1.072M $6.281M
YoY Change -76.45% -256.73% -160.66%
Pretax Income $94.86M $113.1M $412.4M
YoY Change -3.15% 37.68% 41.02%
Income Tax
% Of Pretax Income
Net Earnings $94.86M $112.7M $412.4M
YoY Change -3.15% 37.63% 41.02%
Net Earnings / Revenue 36.29% 42.5% 39.27%
Basic Earnings Per Share $0.42 $1.82
Diluted Earnings Per Share $0.42 $0.50 $1.82
COMMON SHARES
Basic Shares Outstanding 225.0M 224.9M 225.4M
Diluted Shares Outstanding 226.6M 226.2M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.587M $6.526M $6.526M
YoY Change 1.4% 7.62% 7.62%
Cash & Equivalents $5.587M $6.526M $6.526M
Short-Term Investments
Other Short-Term Assets $7.912M $13.05M $13.05M
YoY Change -2.51% 28.42% 28.42%
Inventory
Prepaid Expenses
Receivables $7.907M $8.944M $8.944M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.41M $28.52M $28.52M
YoY Change 2.78% 18.06% 18.06%
LONG-TERM ASSETS
Property, Plant & Equipment $5.989B $6.002B $6.002B
YoY Change -1.22% -1.57% -1.57%
Goodwill
YoY Change
Intangibles $2.036M $1.806M
YoY Change 279.85% 52.92%
Long-Term Investments $96.23M $98.29M $98.29M
YoY Change -7.19% -7.27% -7.27%
Other Assets $5.707M $5.686M $5.686M
YoY Change -52.21% -51.76% -51.76%
Total Long-Term Assets $6.187B $6.197B $6.197B
YoY Change -1.32% -1.67% -1.67%
TOTAL ASSETS
Total Short-Term Assets $21.41M $28.52M $28.52M
Total Long-Term Assets $6.187B $6.197B $6.197B
Total Assets $6.209B $6.225B $6.225B
YoY Change -1.31% -1.59% -1.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $202.8M $201.4M $151.1M
YoY Change 7.76% -5.57% -8.22%
Accrued Expenses $50.32M
YoY Change 3.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $31.87M $32.33M $2.183M
YoY Change 0.0%
Total Short-Term Liabilities $350.6M $317.2M $319.4M
YoY Change 16.67% -2.56% -2.54%
LONG-TERM LIABILITIES
Long-Term Debt $2.957B $2.988B $2.986B
YoY Change -3.44% -2.4% -2.4%
Other Long-Term Liabilities $39.27M $38.48M $38.48M
YoY Change -4.5% -5.05% -5.05%
Total Long-Term Liabilities $2.996B $3.027B $3.025B
YoY Change -3.45% -2.43% -2.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $350.6M $317.2M $319.4M
Total Long-Term Liabilities $2.996B $3.027B $3.025B
Total Liabilities $3.347B $3.344B $3.426B
YoY Change -1.67% -2.45% -2.1%
SHAREHOLDERS EQUITY
Retained Earnings -$1.365B -$1.345B
YoY Change 3.19% 3.4%
Common Stock $2.250M $2.249M
YoY Change 0.13% 0.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.782B $2.799B $2.799B
YoY Change
Total Liabilities & Shareholders Equity $6.209B $6.225B $6.225B
YoY Change -1.31% -1.59% -1.59%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $94.86M $112.7M $412.4M
YoY Change -3.15% 37.63% 41.02%
Depreciation, Depletion And Amortization $50.72M $51.60M $201.2M
YoY Change 0.77% -26.76% -35.21%
Cash From Operating Activities $150.2M $146.0M $611.1M
YoY Change 10.81% 0.71% 3.33%
INVESTING ACTIVITIES
Capital Expenditures $29.80M $30.64M $62.28M
YoY Change 167.29% 123.0% -52.18%
Acquisitions
YoY Change
Other Investing Activities -$4.417M -$8.351M -$31.54M
YoY Change -66.56% 119.42% -138.71%
Cash From Investing Activities -$34.22M -$38.99M -$93.82M
YoY Change 40.48% 122.22% 92.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$276.0K
YoY Change -105.66%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -116.5M -108.7M -518.0M
YoY Change 4.71% -14.21% -5.31%
NET CHANGE
Cash From Operating Activities 150.2M 146.0M 611.1M
Cash From Investing Activities -34.22M -38.99M -93.82M
Cash From Financing Activities -116.5M -108.7M -518.0M
Net Change In Cash -604.0K -1.683M -708.0K
YoY Change 322.38% -333.43% -83.88%
FREE CASH FLOW
Cash From Operating Activities $150.2M $146.0M $611.1M
Capital Expenditures $29.80M $30.64M $62.28M
Free Cash Flow $120.3M $115.4M $548.9M
YoY Change -3.22% -12.09% 19.0%

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OtherComprehensiveIncomeLossReclassificationAdjustmentOnInterestRateSwapAgreementsIncludedInNetIncomeNetOfTax
81000
CY2021 cube Other Comprehensive Income Loss Reclassification Adjustment On Interest Rate Swap Agreements Included In Net Income Net Of Tax
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CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2023 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
230894000
CY2023 cube Comprehensive Income Net Of Tax Attributable To Redeemable Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToRedeemableNoncontrollingInterest
2536000
CY2022 cube Comprehensive Income Net Of Tax Attributable To Redeemable Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToRedeemableNoncontrollingInterest
1933000
CY2021 cube Comprehensive Income Net Of Tax Attributable To Redeemable Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToRedeemableNoncontrollingInterest
7892000
CY2023 cube Comprehensive Income Loss Net Of Tax Attributable To Noncontrolling Interest Excluding Redeemable Noncontrolling Interest
ComprehensiveIncomeLossNetOfTaxAttributableToNoncontrollingInterestExcludingRedeemableNoncontrollingInterest
-857000
CY2022 cube Comprehensive Income Loss Net Of Tax Attributable To Noncontrolling Interest Excluding Redeemable Noncontrolling Interest
ComprehensiveIncomeLossNetOfTaxAttributableToNoncontrollingInterestExcludingRedeemableNoncontrollingInterest
-722000
CY2021 cube Comprehensive Income Loss Net Of Tax Attributable To Noncontrolling Interest Excluding Redeemable Noncontrolling Interest
ComprehensiveIncomeLossNetOfTaxAttributableToNoncontrollingInterestExcludingRedeemableNoncontrollingInterest
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CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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CY2021 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
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CY2021 us-gaap Stock Issued During Period Value New Issues
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CY2021 us-gaap Stock Issued During Period Value Conversion Of Units
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CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2021 cube Adjustments To Additional Paid In Capital Amortization Of Restricted Stock
AdjustmentsToAdditionalPaidInCapitalAmortizationOfRestrictedStock
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
222940000
CY2021 cube Other Comprehensive Income Loss Net Of Tax Including Portion Attributable To Temporary Equity
OtherComprehensiveIncomeLossNetOfTaxIncludingPortionAttributableToTemporaryEquity
62000
CY2022 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2022 us-gaap Stock Issued During Period Value New Issues
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CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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CY2022 us-gaap Stock Issued During Period Value Conversion Of Units
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CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2022 cube Adjustments To Additional Paid In Capital Amortization Of Restricted Stock
AdjustmentsToAdditionalPaidInCapitalAmortizationOfRestrictedStock
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CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2543000
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CY2022 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
290541000
CY2022 cube Other Comprehensive Income Loss Net Of Tax Including Portion Attributable To Temporary Equity
OtherComprehensiveIncomeLossNetOfTaxIncludingPortionAttributableToTemporaryEquity
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CY2023 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
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CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2716000
CY2023 cube Adjustments To Additional Paid In Capital Amortization Of Restricted Stock
AdjustmentsToAdditionalPaidInCapitalAmortizationOfRestrictedStock
6454000
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2818000
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CY2023 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
409900000
CY2023 cube Other Comprehensive Income Loss Net Of Tax Including Portion Attributable To Temporary Equity
OtherComprehensiveIncomeLossNetOfTaxIncludingPortionAttributableToTemporaryEquity
80000
CY2023 us-gaap Common Stock Dividends Per Share Declared
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ProfitLoss
412435000
CY2022 us-gaap Profit Loss
ProfitLoss
292472000
CY2021 us-gaap Profit Loss
ProfitLoss
230813000
CY2023 cube Depreciation Depletion And Amortization Cash Flow Impact
DepreciationDepletionAndAmortizationCashFlowImpact
205379000
CY2022 cube Depreciation Depletion And Amortization Cash Flow Impact
DepreciationDepletionAndAmortizationCashFlowImpact
314507000
CY2021 cube Depreciation Depletion And Amortization Cash Flow Impact
DepreciationDepletionAndAmortizationCashFlowImpact
240217000
CY2023 cube Finance Lease Non Cash Portion Of Interest Expense
FinanceLeaseNonCashPortionOfInterestExpense
-44000
CY2022 cube Finance Lease Non Cash Portion Of Interest Expense
FinanceLeaseNonCashPortionOfInterestExpense
-43000
CY2021 cube Finance Lease Non Cash Portion Of Interest Expense
FinanceLeaseNonCashPortionOfInterestExpense
202000
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-20328000
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6085000
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
48877000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
25275000
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EquityMethodInvestmentDividendsOrDistributions
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CY2023 cube Gain Loss On Involuntary Conversion
GainLossOnInvoluntaryConversion
4827000
CY2021 cube Gain Loss On Sale Of Real Estate Properties
GainLossOnSaleOfRealEstateProperties
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CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
10089000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2023 cube Fair Value Adjustment Of Debt
FairValueAdjustmentOfDebt
886000
CY2022 cube Fair Value Adjustment Of Debt
FairValueAdjustmentOfDebt
1099000
CY2021 cube Fair Value Adjustment Of Debt
FairValueAdjustmentOfDebt
2037000
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IncreaseDecreaseInOtherOperatingAssets
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CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Other Operating Liabilities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
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CY2021 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
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CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2023 cube Payments For Additions And Improvements To Real Estate
PaymentsForAdditionsAndImprovementsToRealEstate
39853000
CY2022 cube Payments For Additions And Improvements To Real Estate
PaymentsForAdditionsAndImprovementsToRealEstate
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CY2021 cube Payments For Additions And Improvements To Real Estate
PaymentsForAdditionsAndImprovementsToRealEstate
34608000
CY2023 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
47521000
CY2022 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
24358000
CY2021 us-gaap Payments To Develop Real Estate Assets
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CY2023 us-gaap Distributions Payable To Real Estate Partnerships
DistributionsPayableToRealEstatePartnerships
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CY2022 us-gaap Distributions Payable To Real Estate Partnerships
DistributionsPayableToRealEstatePartnerships
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CY2021 us-gaap Distributions Payable To Real Estate Partnerships
DistributionsPayableToRealEstatePartnerships
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CY2023 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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8344000
CY2022 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
62656000
CY2021 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
66593000
CY2023 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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CY2022 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
43193000
CY2021 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
44026000
CY2023 cube Proceeds From Involuntary Conversion Net
ProceedsFromInvoluntaryConversionNet
7424000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2022 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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CY2021 us-gaap Repayments Of Unsecured Debt
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CY2023 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
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CY2022 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
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CY2021 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
814471000
CY2023 cube Payments Of Mortgage Loans And Notes Payable
PaymentsOfMortgageLoansAndNotesPayable
32591000
CY2022 cube Payments Of Mortgage Loans And Notes Payable
PaymentsOfMortgageLoansAndNotesPayable
2426000
CY2021 cube Payments Of Mortgage Loans And Notes Payable
PaymentsOfMortgageLoansAndNotesPayable
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CY2023 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
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CY2022 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
3885000
CY2021 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
12548000
CY2021 cube Debt Prepayment Costs
DebtPrepaymentCosts
20023000
CY2021 cube Payments To Acquire Noncontrolling Interests
PaymentsToAcquireNoncontrollingInterests
3397000
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ProceedsFromIssuanceOfCommonStock
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023 us-gaap Proceeds From Stock Options Exercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2022 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
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CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
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CY2022 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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CY2021 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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CY2023 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2022 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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PaymentsOfDividendsCommonStock
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PaymentsToMinorityShareholdersInOperatingPartnership
2756000
CY2022 cube Payments To Minority Shareholders In Operating Partnership
PaymentsToMinorityShareholdersInOperatingPartnership
2702000
CY2021 cube Payments To Minority Shareholders In Operating Partnership
PaymentsToMinorityShareholdersInOperatingPartnership
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7089000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8925000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13318000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6229000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8217000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8925000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13318000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 cube Noncash Or Part Noncash Acquisition Properties Acquired
NoncashOrPartNoncashAcquisitionPropertiesAcquired
700000
CY2021 cube Discount On Issuance Of Unsecured Notes
DiscountOnIssuanceOfUnsecuredNotes
6573000
CY2021 us-gaap Loans Assumed1
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40880000
CY2022 cube Accretion Of Liability
AccretionOfLiability
2444000
CY2021 cube Accretion Of Liability
AccretionOfLiability
9777000
CY2023 cube Derivative Valuation Adjustment
DerivativeValuationAdjustment
81000
CY2022 cube Derivative Valuation Adjustment
DerivativeValuationAdjustment
81000
CY2021 cube Derivative Valuation Adjustment
DerivativeValuationAdjustment
81000
CY2023 cube Contributions From Noncontrolling Interests In Subidiaries
ContributionsFromNoncontrollingInterestsInSubidiaries
7599000
CY2022 cube Contributions From Noncontrolling Interests In Subidiaries
ContributionsFromNoncontrollingInterestsInSubidiaries
3340000
CY2021 cube Contributions From Noncontrolling Interests In Subidiaries
ContributionsFromNoncontrollingInterestsInSubidiaries
3373000
CY2023Q4 cube Number Of Owned Self Storage Properties
NumberOfOwnedSelfStorageProperties
611
CY2023Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
24
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023 cube Common Stock Conversion Ratio
CommonStockConversionRatio
1
CY2023 cube Common Stock Conversion Ratio
CommonStockConversionRatio
1
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:9pt;margin:0pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Although management believes the assumptions and estimates made are reasonable and appropriate, as discussed in the applicable sections throughout these consolidated financial statements, different assumptions and estimates could materially impact the Company’s reported results. There is a degree of uncertainty inherent in these estimates and assumptions, and changes in market conditions could impact the Company’s future operating results.</p>
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:9pt;margin:0pt;">Certain amounts on the Company’s and the Operating Partnership’s consolidated balance sheets have been reclassified in prior years to conform to the current year presentation. Additionally, the Operating Partnership’s consolidated statements of operations have been updated to conform to the current year presentation. </p>
CY2023 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
24500000
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
22400000
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
21000000.0
CY2023 cube Payments To Acquire Businesses Gross Allocated To Above Or Below Market Lease Intangibles
PaymentsToAcquireBusinessesGrossAllocatedToAboveOrBelowMarketLeaseIntangibles
0
CY2023 cube Write Off Fully Depreciated Real Estate Assets
WriteOffFullyDepreciatedRealEstateAssets
29100000
CY2023 cube Write Off Fully Amortized In Place Lease Intangible Assets
WriteOffFullyAmortizedInPlaceLeaseIntangibleAssets
3400000
CY2022 cube Write Off Fully Depreciated Real Estate Assets
WriteOffFullyDepreciatedRealEstateAssets
32300000
CY2022 cube Write Off Fully Amortized In Place Lease Intangible Assets
WriteOffFullyAmortizedInPlaceLeaseIntangibleAssets
121600000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 cube Disposal Group Including Discontinued Operation Expected Timing Of Disposal
DisposalGroupIncludingDiscontinuedOperationExpectedTimingOfDisposal
P1Y
CY2023Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
0
CY2023Q4 us-gaap Deferred Finance Costs Gross
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53700000
CY2022Q4 us-gaap Deferred Finance Costs Gross
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53900000
CY2023Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
25300000
CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
19800000
CY2022 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2023 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2023Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
31800000
CY2022Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
32700000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
164000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2263000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1806000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1181000
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
8944000
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
7932000
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
8171000
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
8033000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
4879000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2129000
CY2023Q4 us-gaap Other Receivables
OtherReceivables
18045000
CY2022Q4 us-gaap Other Receivables
OtherReceivables
15947000
CY2023Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
60038000
CY2022Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
55572000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
50476000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
49491000
CY2023Q4 cube Ground Lease Receivable
GroundLeaseReceivable
6193000
CY2022Q4 cube Ground Lease Receivable
GroundLeaseReceivable
6138000
CY2023Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
4732000
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
7559000
CY2023Q4 us-gaap Other Assets
OtherAssets
163284000
CY2022Q4 us-gaap Other Assets
OtherAssets
153982000
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1247775000
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
5951236000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6048003000
CY2023 cube Equity Offering Costs
EquityOfferingCosts
300000
CY2022 cube Equity Offering Costs
EquityOfferingCosts
200000
CY2021 cube Equity Offering Costs
EquityOfferingCosts
28300000
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1300000
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1300000
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1900000
CY2022Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
0
CY2023Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
0
CY2023Q4 cube Tax Basis Of Real Estate Assets
TaxBasisOfRealEstateAssets
6022100000
CY2022Q4 cube Tax Basis Of Real Estate Assets
TaxBasisOfRealEstateAssets
6145800000
CY2023 cube Federal Excise Tax Rate
FederalExciseTaxRate
0.04
CY2023 cube Federal Excise Tax Rate
FederalExciseTaxRate
0.04
CY2023 cube Percentage Of Ordinary Income Considered For Calculation Of Excise Tax
PercentageOfOrdinaryIncomeConsideredForCalculationOfExciseTax
0.85
CY2023 cube Percentage Of Capital Gain Considered For Calculation Of Excise Tax
PercentageOfCapitalGainConsideredForCalculationOfExciseTax
0.95
CY2023 cube Percentage Of Prior Year Taxable Income Considered For Calculation Of Excise Tax
PercentageOfPriorYearTaxableIncomeConsideredForCalculationOfExciseTax
1
CY2021 cube Excise Tax Incurred
ExciseTaxIncurred
0
CY2022 cube Excise Tax Incurred
ExciseTaxIncurred
0
CY2023 cube Excise Tax Incurred
ExciseTaxIncurred
0
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1100000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1000000.0
CY2023 cube Schedule Of Capitalized Costs For Investments In Storage Properties
ScheduleOfCapitalizedCostsForInvestmentsInStorageProperties
<p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-indent:9pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:34.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:34.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">CubeSmart</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Number of</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Ownership</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Total</b></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:34.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Store Location</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Stores</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Date Opened</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Interest</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Construction Costs</b></p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(in thousands)</b></p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Valley Stream, NY <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(1) </sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q3 2022</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 37,200</p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Vienna, VA <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(2)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2022</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">80%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 21,800</p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Newton, MA <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(3)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q4 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 20,800</p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">East Meadow, NY <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 25,900</p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">King of Prussia, PA</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">70%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 22,800</p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Arlington, VA <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(2)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q1 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">90%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 26,400</p></td></tr><tr><td style="vertical-align:bottom;width:34.01%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 154,900</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 27pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 36pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">These stores were previously owned by </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">two</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> separate consolidated joint ventures, of which the Company held a </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">51%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> ownership interest in each. On June 29, 2021, the noncontrolling member in the venture that owned the East Meadow, NY store put its </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">49%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest in the venture to the Company for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$6.6</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. On January 18, 2023, the noncontrolling member in the venture that owned the Valley Stream, NY store put its </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">49%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest in the venture to the Company for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$15.3</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. The cash payments related to each of these transactions are included in Development costs in the consolidated statements of cash flows. </span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 36pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Each of these stores are located adjacent to an existing consolidated joint venture store. Given this proximity, each of these stores has been combined with the adjacent existing store in our store count upon opening, as well as for operational and reporting purposes.</span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 36pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">During the fourth quarter of 2021, the Company, through a joint venture in which it owned a </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">90%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest that was previously consolidated, completed the construction of this store and it was opened for operation. On December 14, 2021, the Company acquired the </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">10%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest of the noncontrolling member in the venture that owned the store for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$3.4</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. Prior to this transaction, the noncontrolling member’s interest in this venture was reported in Noncontrolling interests in subsidiaries on the Company’s consolidated balance sheets. Since the Company retained its controlling interest in the venture and the store is now wholly owned, this transaction was accounted for as an equity transaction. The carrying amount of the noncontrolling interest was reduced to </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">zero</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> to reflect the purchase and the difference between the purchase price paid by the Company and the carrying amount of the noncontrolling interest of </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$2.7</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million was recorded as an adjustment to equity attributable to the Company, with </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">no</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> gain or loss recorded. The </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$13.2</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million related party loan extended by the Company to the venture that owned the store was repaid in conjunction with the Company’s acquisition of the noncontrolling member’s ownership interest. </span></td></tr></table>
cube Number Of Facilities Construction Completed And Opened For Operation
NumberOfFacilitiesConstructionCompletedAndOpenedForOperation
6
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
154900000
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
817000
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
953000
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1177000
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Concentration of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:9pt;margin:0pt;">The Company’s stores are located in major metropolitan and rural areas and have numerous customers per store. No single customer represents a significant concentration of our revenues. The stores in New York, Florida, California and Texas provided approximately 17%, 15%, 11% and 9%, respectively, of the Company’s total revenues for the year ended December 31, 2023. The stores in New York, Florida, California and Texas provided approximately 16%, 15%, 11% and 9%, respectively, of the Company’s total revenues for the year ended December 31, 2022. The stores in New York, Florida, Texas and California provided approximately 19%, 15%, 9% and 8%, respectively, of the Company’s total revenues for the year ended December 31, 2021. </p>
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7367613000
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7295778000
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CY2023 us-gaap Partners Capital Account Units Redeemed
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CY2023 us-gaap Lessee Operating Lease Existence Of Option To Extend
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CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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2587000
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FinanceLeaseLiabilityPaymentsDueYearFour
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2023Q4 us-gaap Finance Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q4 us-gaap Finance Lease Liability
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CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q4 cube Property Self Storage Facility Under Development Number Of Units
PropertySelfStorageFacilityUnderDevelopmentNumberOfUnits
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CY2023Q4 cube Commitments And Contingencies Future Milestone Payments
CommitmentsAndContingenciesFutureMilestonePayments
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CY2023 us-gaap Profit Loss
ProfitLoss
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CY2022 us-gaap Profit Loss
ProfitLoss
292472000
CY2021 us-gaap Profit Loss
ProfitLoss
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CY2023 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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CY2022 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
1931000
CY2021 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
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CY2023 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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CY2022 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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410757000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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291263000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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224928000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203832000
CY2023 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
817000
CY2022 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
953000
CY2021 us-gaap Weighted Average Number Of Shares Restricted Stock
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1177000
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WeightedAverageNumberOfDilutedSharesOutstanding
226241000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
205009000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.82
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.10
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.82
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.29
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.09
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.98
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.78
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.45
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
700000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2023Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
611
CY2023Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
44131804
CY2023Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
121368000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
1558465000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
5417658000
CY2023 cube Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisition
462413000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
1594742000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
5517544000
CY2023 cube Real Estate And Accumulated Depreciation Carrying Amount
RealEstateAndAccumulatedDepreciationCarryingAmount
7112286000
CY2023Q4 cube Real Estate Related Accumulated Depreciation
RealEstateRelatedAccumulatedDepreciation
1341613000
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7295778000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7183494000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
5489754000
CY2023 cube Real Estate Acquisitions And Improvements
RealEstateAcquisitionsAndImprovements
74259000
CY2022 cube Real Estate Acquisitions And Improvements
RealEstateAcquisitionsAndImprovements
191495000
CY2021 cube Real Estate Acquisitions And Improvements
RealEstateAcquisitionsAndImprovements
1795965000
CY2023 cube Real Estate Fully Depreciated Assets
RealEstateFullyDepreciatedAssets
29133000
CY2022 cube Real Estate Fully Depreciated Assets
RealEstateFullyDepreciatedAssets
32344000
CY2021 cube Real Estate Fully Depreciated Assets
RealEstateFullyDepreciatedAssets
52722000
CY2023 cube Real Estate Cost Of Real Estate Sold And Other Deductions
RealEstateCostOfRealEstateSoldAndOtherDeductions
4717000
CY2022 cube Real Estate Cost Of Real Estate Sold And Other Deductions
RealEstateCostOfRealEstateSoldAndOtherDeductions
6230000
CY2021 cube Real Estate Cost Of Real Estate Sold And Other Deductions
RealEstateCostOfRealEstateSoldAndOtherDeductions
19408000
CY2023 cube Real Estate Gross Construction In Progress
RealEstateGrossConstructionInProgress
31426000
CY2022 cube Real Estate Gross Construction In Progress
RealEstateGrossConstructionInProgress
-40637000
CY2021 cube Real Estate Gross Construction In Progress
RealEstateGrossConstructionInProgress
-30095000
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7367613000
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7295778000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7183494000
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1247775000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1085824000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
983940000
CY2023 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
199065000
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
195522000
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
160933000
CY2023 cube Real Estate Accumulated Depreciation Fully Depreciated Assets
RealEstateAccumulatedDepreciationFullyDepreciatedAssets
29133000
CY2022 cube Real Estate Accumulated Depreciation Fully Depreciated Assets
RealEstateAccumulatedDepreciationFullyDepreciatedAssets
32344000
CY2021 cube Real Estate Accumulated Depreciation Fully Depreciated Assets
RealEstateAccumulatedDepreciationFullyDepreciatedAssets
52722000
CY2023 cube Real Estate Accumulated Depreciation Real Estate Sold And Other Deductions
RealEstateAccumulatedDepreciationRealEstateSoldAndOtherDeductions
1330000
CY2022 cube Real Estate Accumulated Depreciation Real Estate Sold And Other Deductions
RealEstateAccumulatedDepreciationRealEstateSoldAndOtherDeductions
1227000
CY2021 cube Real Estate Accumulated Depreciation Real Estate Sold And Other Deductions
RealEstateAccumulatedDepreciationRealEstateSoldAndOtherDeductions
6327000
CY2023Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1416377000
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1247775000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1085824000
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
5951236000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6048003000
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6097670000
CY2023Q4 cube Real Estate Aggregate Cost For Federal Income Tax Purposes
RealEstateAggregateCostForFederalIncomeTaxPurposes
7719600000

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