CubeSmart Q4 2023 EPS $0.50, FFO as adj. $0.70; raises dividend 4.1% to $0.51/share

CubeSmart

2023-FY EPS reported $1.82 revenue$1,050,334,000

Diluted EPS $0.50 in Q4 2023 vs $0.36 YoY; full-year EPS $1.82 vs $1.29.
FFO as adjusted per share $0.70 in Q4 (+4.5% YoY); full-year $2.68 (+5.9%).
Same-store NOI +1.2%; revenue +0.4%, expenses -1.8%; ended occupancy 90.3%.
Acquired one NJ store for $22M in Q4; post-close bought two CT stores for $20.2M.
2024 guidance: diluted EPS $1.69-$1.79, FFO as adj. $2.59-$2.69.

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 the twelve months ended December 31, 2023 results: net income $410.8 million, EPS $1.82.

Period: the twelve months ended December 31, 2023
Net income: $410.8 million
EPS: $1.82
Result: reported results

Exact text from the filing

On February 29, 2024, CubeSmart (the “Company”) announced its financial results for the three months and twelve months ended December 31, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CubeSmart reported the three months ended December 31, 2023 results: net income $112.7 million, EPS $0.50.

Period: the three months ended December 31, 2023
Net income: $112.7 million
EPS: $0.50
Result: reported results

Exact text from the filing

On February 29, 2024, CubeSmart (the “Company”) announced its financial results for the three months and twelve months ended December 31, 2023.

View on SEC.gov

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CubeSmart filing history →

Source: SEC EDGAR

accession 0001298675-24-000009

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