CubeSmart Q1 2023 EPS $0.43, FFO per share $0.65, same-store NOI up 9.1%

CubeSmart

2023-Q1 EPS reported $0.43 revenue$256,528,000

Net income $97.6M vs $38.2M YoY; diluted EPS $0.43 (vs $0.17).
Same-store NOI +9.1% YoY: revenue +6.9%, expenses +1.0%; occupancy 91.5% avg.
FFO per share as adjusted $0.65 (+12.1% YoY); FY23 guidance EPS $1.77-$1.84, FFO $2.64-$2.71.
Added 25 stores to third-party management platform (total 676 stores, 45.1M rentable sq ft).
Quarterly dividend $0.49/share paid Apr 17; no ATM sales in Q1; $57.3M in JV development.

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 0.97

CubeSmart reported the three months ended March 31, 2023 results: net income $ 97.6 million, EPS $0.43.

Period: the three months ended March 31, 2023
Net income: $ 97.6 million
EPS: $0.43
Result: reported results

Exact text from the filing

Net income attributable to the Company’s common shareholders was $ 97.6 million for the first quarter of 2023

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Source: SEC EDGAR

accession 0001298675-23-000016

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