CubeSmart Q1 2021 Earnings Report
Key Takeaways
CubeSmart reported strong first-quarter results, driven by an 8.9% increase in same-store NOI and a record-high occupancy. The company's EPS was $0.21, and FFO per share, as adjusted, was $0.47. CubeSmart also opened a development project and established a joint venture, expanding its portfolio and third-party management platform.
EPS attributable to common shareholders was reported at $0.21.
FFO per share, as adjusted, was reported at $0.47.
Same-store NOI increased by 8.9% year over year.
Same-store occupancy averaged 93.8% during the quarter and ended at 94.4%.
CubeSmart
CubeSmart
Forward Guidance
CubeSmart anticipates a positive operating environment due to record-high occupancy and an improving macroeconomic backdrop, leading to increased guidance ranges for same-store and FFO per share estimates for 2021.