8-K
filed August 4, 2023, 7:59 PM ET
ticker CUBE
CIK 0001298675
earnings
confidence high
sentiment neutral
materiality 0.70
CubeSmart Reports Q2 2023 EPS of $0.43, FFO per Share $0.66, Same-Store NOI Up 5.0%
CubeSmart
2023-Q2 EPS reported
$0.86
revenue$517,333,000
- Net income attributable to common shareholders was $97.9 million for Q2 2023, up from $58.4 million in Q2 2022.
- Same-store NOI increased 5.0% year-over-year, driven by 4.6% revenue growth and 3.6% expense growth.
- Same-store physical occupancy ended quarter at 92.7%, down from 94.4% a year earlier.
- Added 58 stores to third-party management platform in Q2, totaling 727 managed stores.
- Updated 2023 guidance: EPS $1.77-$1.81, FFO per share $2.64-$2.68 (previously $2.64-$2.71).
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 and six months ended June 30, 2023 results: net income $97.9 million, EPS $0.43.
- Period
- three and six months ended June 30, 2023
- Net income
- $97.9 million
- EPS
- $0.43
- Result
- reported results
Exact text from the filing
Net income attributable to the Company’s common shareholders was $ 97.9 million for the second quarter of 2023 , compared with $ 58.4 million for the second quarter of 2022 .
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
CubeSmart reported second quarter of 2023 results: EPS $0.43.
- Period
- second quarter of 2023
- EPS
- $0.43
- Result
- reported results
Exact text from the filing
EPS attributable to the Company’s common shareholders was $0.43 for the second quarter of 2023 , compared with $0.26 for the same period last year.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
CubeSmart reported 2023 fiscal year results: EPS $1.77 to $1.81. Guidance lowered.
- Period
- 2023 fiscal year
- EPS
- $1.77 to $1.81
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
The Company estimates that its fully diluted earnings per share for the year will be between $1.77 and $1.81 (previously $1.77 to $1.84), and that its fully diluted FFO per share, as adjusted, for 2023 will be between $2.64 and $2.68 (previously $2.64 to $2.71).
View on SEC.gov
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