CUBE vs. ELS: CubeSmart vs. Equity LifeStyle Properties Stock Comparison

Company Profile

CubeSmart (CUBE) and Equity LifeStyle Properties (ELS) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but CUBE is classified in Specialized REITs while ELS is classified in Residential REITs.

Both CubeSmart (CUBE) and Equity LifeStyle Properties (ELS) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Both CubeSmart (CUBE) at 12.78% and Equity LifeStyle Properties (ELS) at 22.34% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

Neither CubeSmart (CUBE) in Equity Real Estate Investment Trusts (REITs) nor Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for CubeSmart (CUBE) in Equity Real Estate Investment Trusts (REITs) and Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both CubeSmart (CUBE) at 5.33% and Equity LifeStyle Properties (ELS) at 1.18% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either CubeSmart (CUBE) in Equity Real Estate Investment Trusts (REITs) or Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Both CubeSmart (CUBE) at 0.17 and Equity LifeStyle Properties (ELS) at 0.12 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

CubeSmart (CUBE) at 1.42 carries an industry-typical debt-to-equity mix, while Equity LifeStyle Properties (ELS) at 1.83 uses more debt funding than most peers.

Financial Strength Metrics

Dividends

Both CubeSmart (CUBE) at 4.67% and Equity LifeStyle Properties (ELS) at 3.40% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

An earnings-based payout ratio fits neither CubeSmart (CUBE) in Equity Real Estate Investment Trusts (REITs) nor Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either CubeSmart (CUBE) in Equity Real Estate Investment Trusts (REITs) or Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

Equity LifeStyle Properties (ELS) at 7.96 is priced about in line with its industry on P/S ratio, while CubeSmart (CUBE) at 8.80 sits in the pricier quartile — CUBE costs more per dollar of sales.

Both look rich against book: CubeSmart (CUBE) at 4.06 sits in the upper P/B ratio quartile, and Equity LifeStyle Properties (ELS) at 6.99 prices even higher, above its industry range.

Valuation Metrics