CubeSmart (CUBE) Tops Q3 EPS by 5c

CubeSmart (NYSE: CUBE) reported Q3 EPS of $0.24, $0.05 better than the analyst estimate of $0.19.

“The last few months have showcased the strength and resilience of the entire CubeSmart platform. Performance rebounded across our portfolio, as strong demand trends drove record-high same-store occupancies in September,” commented President and Chief Executive Officer Christopher P. Marr. “We also continue to effectively execute on our external growth strategy with a robust pipeline of high-quality acquisitions, including the recently announced Storage Deluxe transaction that represents the culmination of our ten-year New York City portfolio strategy.”

Key Highlights for the Third Quarter

• Reported funds from operations (“FFO”) per share, as adjusted, of $0.44.
• Same-store occupancy during the quarter averaged 94.4% and ended the quarter at 94.3%.

Added 37 stores to our third-party management platform during the quarter, bringing our total third-party managed store count to 733.

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

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