CubeSmart Q3 EPS $0.50, FFO as adj $0.66; raises FY guidance

CubeSmart

2022-Q3 EPS reported $0.93 revenue$748,637,000

EPS of $0.50 vs $0.43 YoY; FFO as adj $0.66 vs $0.56; net income $112.9M.
Same-store NOI +15.4% YoY; revenue +12.2%, occupancy 93.8% at quarter end.
HVPSE JV sold 14 properties for $235M; company received $49.9M promoted interest.
FY 2022 EPS guidance raised to $1.26-$1.28 (prior $1.05-$1.09); FFO as adj to $2.50-$2.52.
Acquired one store for $20.7M; credit facility amended to $850M, maturity extended to 2027.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CubeSmart reported three months ended September 30, 2022 results: net income $112.9 million, EPS $0.50.

Period: three months ended September 30, 2022
Net income: $112.9 million
EPS: $0.50
Result: reported results

Exact text from the filing

Net income attributable to the Company’s common shareholders was $ 112.9 million for the third quarter of 2022 , compared with $ 87.7 million for the third quarter of 2021 . A significant driver of the year over year increase was a $45.7 million gain related to the sale of the 14 properties within the HVPSE joint venture. This gain is included in equity in earnings of real estate ventures and is not included in FFO or FFO, as adjusted. EPS attributable to the Company’s common shareholders was $0.50 for the third quarter of 2022 , compared with $0.43 for the same period last year.

View on SEC.gov

Browse all earnings releases →

CubeSmart filing history →

Source: SEC EDGAR

accession 0001298675-22-000051

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.