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Jun 30, 2021
CubeSmart Q2 2021 Earnings Report
CubeSmart's Q2 2021 earnings were reported, showing increased net income, EPS, and same-store NOI, driven by strong operating fundamentals and revenue growth.
Key Takeaways
CubeSmart reported strong Q2 2021 results with significant increases in net income, EPS, and same-store NOI. The company benefited from strengthening operating fundamentals and positive consumer demand, leading to exceptional performance during the rental season.
Reported EPS attributable to common shareholders was $0.24.
Reported FFO per share, as adjusted, was $0.50.
Same-store NOI increased 17.6% year over year, driven by 14.0% revenue growth.
Same-store occupancy averaged 95.6% during the quarter and ended at 96.1%.
Forward Guidance
CubeSmart estimates its fully diluted earnings per share for the year will be between $0.93 and $0.97, and its fully diluted FFO per share, as adjusted, for 2021 will be between $1.99 and $2.03.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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