earnings
confidence high
sentiment neutral
materiality 0.65
CubeSmart Q3 diluted EPS $0.36, same-store NOI -1.5%; lifts FY2025 guidance midpoints
CubeSmart
2025-Q3 EPS
reported $1.11
vs consensus $0.39
▲ beat
(+186.4%)
- Net income $82.9M, diluted EPS $0.36 vs $0.44 YoY; FFO as adjusted $0.65 vs $0.67.
- Same-store NOI -1.5% (revenue -1.0%, expenses +0.3%); occupancy averaged 89.9%, ended 89.0%.
- Issued $450M 5.125% unsecured senior notes due 2035; proceeds used to reduce credit facility.
- Post-quarter, entered contracts to buy 3 properties (AZ, FL, NJ) for $65.3M; Q4 close expected.
- FY2025 guidance: EPS $1.46-$1.50, FFO as adjusted $2.56-$2.60 (midpoints raised).