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CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Rental income $ 216,133 $ 170,359 $ 424,504 $ 332,835
Total revenues 248,664 199,247 487,229 388,088
OPERATING EXPENSES        
Property operating expenses 73,472 63,751 144,039 124,979
Depreciation and amortization 79,046 54,139 161,603 107,949
General and administrative 13,725 11,560 28,250 22,476
Total operating expenses 166,243 129,450 333,892 255,404
Interest:        
Interest expense on loans (23,055) (19,112) (45,879) (38,346)
Loan procurement amortization expense (959) (1,012) (1,916) (2,047)
Equity in earnings of real estate ventures 680 316 974 336
Other (493) 377 (9,656) 1,054
Total other expense (23,827) (19,431) (56,477) (39,003)
NET INCOME     96,860 93,681
NET LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Noncontrolling interest in subsidiaries     324 120
NET INCOME ATTRIBUTABLE TO CUBESMART L.P.     97,184 93,801
Operating Partnership interests of third parties $ (379) $ (1,768) (671) (3,317)
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS     $ 96,513 $ 90,484
Basic earnings per unit attributable to common unitholders     $ 0.43 $ 0.45
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.26 $ 0.24 $ 0.43 $ 0.45
Weighted-average basic units outstanding (in units) 224,960 201,414 224,812 200,293
Weighted-average diluted units outstanding (in units) 225,895 202,809 225,820 201,527
Other Property Related Income        
REVENUES        
Property related income $ 23,861 $ 21,218 $ 46,141 $ 40,522
Property Management Fee Income        
REVENUES        
Property related income 8,670 7,670 16,584 14,731
CubeSmart, L.P. and Subsidiaries        
REVENUES        
Rental income 216,133 170,359    
Total revenues 248,664 199,247    
OPERATING EXPENSES        
Property operating expenses 73,472 63,751    
Depreciation and amortization 79,046 54,139    
General and administrative 13,725 11,560    
Total operating expenses 166,243 129,450    
Interest:        
Interest expense on loans (23,055) (19,112)    
Loan procurement amortization expense (959) (1,012)    
Equity in earnings of real estate ventures 680 316 $ 974 $ 336
Other (493) 377    
Total other expense (23,827) (19,431)    
NET INCOME 58,594 50,366    
NET LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Noncontrolling interest in subsidiaries 143 154    
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. 58,737 50,520    
Operating Partnership interests of third parties (379) (1,768)    
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS $ 58,358 $ 48,752    
Basic earnings per unit attributable to common unitholders $ 0.26 $ 0.24    
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.26 $ 0.24    
Weighted-average basic units outstanding (in units) 224,960 201,414    
Weighted-average diluted units outstanding (in units) 225,895 202,809    
CubeSmart, L.P. and Subsidiaries | Other Property Related Income        
REVENUES        
Property related income $ 23,861 $ 21,218    
CubeSmart, L.P. and Subsidiaries | Property Management Fee Income        
REVENUES        
Property related income $ 8,670 $ 7,670