CubeSmart (CUBE) Misses Q2 EPS by 1c

CubeSmart (NYSE: CUBE) reported Q2 EPS of $0.21, $0.01 worse than the analyst estimate of $0.22.

• Reported earnings per share (“EPS”) attributable to the Company’s common shareholders of $0.21.
• Reported funds from operations (“FFO”) per share, as adjusted, of $0.41, representing a year-over-year increase of 5.1%.
• Increased same-store (458 stores) net operating income (“NOI”) 3.3% year over year, driven by 3.2% revenue growth and a 3.2% increase in property operating expenses.
• Averaged 93.6% same-store occupancy during the quarter, which was consistent year over year, ending the quarter with same-store occupancy of 94.4%.
• Closed on one property acquisition totaling $19.0 million.
• Sold 3.1 million common shares at an average sales price of $30.78 per share, resulting in net proceeds of $95.4 million.
• Added 41 stores to our third-party management platform during the quarter, bringing our total third-party managed store count to 535.

For earnings history and earnings-related data on CubeSmart (CUBE) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Diana Shipping drops bid for Genco after price demands spike to $36.91
• Movano (MOVE) Misses Q2 EPS by 195c