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CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES        
Rental income $ 170,359 $ 140,484 $ 332,835 $ 281,469
Total revenues 199,247 163,798 388,088 327,879
OPERATING EXPENSES        
Property operating expenses 63,751 55,345 124,979 111,085
Depreciation and amortization 54,139 39,893 107,949 80,731
General and administrative 11,560 9,543 22,476 19,908
Total operating expenses 129,450 104,781 255,404 211,724
Interest:        
Interest expense on loans (19,112) (18,702) (38,346) (37,383)
Loan procurement amortization expense (1,012) (753) (2,047) (1,507)
Equity in earnings (losses) of real estate ventures 316 (174) 336 (179)
Other 377 (456) 1,054 163
Total other expense (19,431) (20,085) (39,003) (38,906)
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Operating Partnership interests of third parties $ (1,768) $ (389) $ (3,317) $ (772)
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.24 $ 0.20 $ 0.45 $ 0.39
Weighted-average basic units outstanding (in units) 201,414 193,629 200,293 193,605
Weighted-average diluted units outstanding (in units) 202,809 194,192 201,527 194,231
Other Property Related Income        
REVENUES        
Property related income $ 21,218 $ 16,522 $ 40,522 $ 33,424
Property Management Fee Income        
REVENUES        
Property related income 7,670 6,792 14,731 12,986
Cubesmart, L P and Subsidiaries        
REVENUES        
Rental income 170,359 140,484 332,835 281,469
Total revenues 199,247 163,798 388,088 327,879
OPERATING EXPENSES        
Property operating expenses 63,751 55,345 124,979 111,085
Depreciation and amortization 54,139 39,893 107,949 80,731
General and administrative 11,560 9,543 22,476 19,908
Total operating expenses 129,450 104,781 255,404 211,724
Interest:        
Interest expense on loans (19,112) (18,702) (38,346) (37,383)
Loan procurement amortization expense (1,012) (753) (2,047) (1,507)
Equity in earnings (losses) of real estate ventures 316 (174) 336 (179)
Other 377 (456) 1,054 163
Total other expense (19,431) (20,085) (39,003) (38,906)
NET INCOME 50,366 38,932 93,681 77,249
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Noncontrolling interest in subsidiaries 154 (38) 120 (76)
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. 50,520 38,894 93,801 77,173
Operating Partnership interests of third parties (1,768) (389) (3,317) (772)
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS $ 48,752 $ 38,505 $ 90,484 $ 76,401
Basic earnings per unit attributable to common unitholders $ 0.24 $ 0.20 $ 0.45 $ 0.39
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.24 $ 0.20 $ 0.45 $ 0.39
Weighted-average basic units outstanding (in units) 201,414 193,629 200,293 193,605
Weighted-average diluted units outstanding (in units) 202,809 194,192 201,527 194,231
Cubesmart, L P and Subsidiaries | Other Property Related Income        
REVENUES        
Property related income $ 21,218 $ 16,522 $ 40,522 $ 33,424
Cubesmart, L P and Subsidiaries | Property Management Fee Income        
REVENUES        
Property related income $ 7,670 $ 6,792 $ 14,731 $ 12,986