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CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Rental income $ 226,837 $ 182,409 $ 651,341 $ 515,244
Total revenues 261,408 212,564 748,637 600,652
OPERATING EXPENSES        
Property operating expenses 76,728 64,065 220,767 189,044
Depreciation and amortization 79,574 55,871 241,177 163,820
General and administrative 13,390 12,095 41,640 34,571
Total operating expenses 169,692 132,031 503,584 387,435
Interest:        
Interest expense on loans (23,850) (19,122) (69,729) (57,468)
Loan procurement amortization expense (969) (1,012) (2,885) (3,059)
Equity in earnings of real estate ventures 46,558 816 47,532 1,152
Gains from sales of real estate, net   28,815   28,815
Other (15) 539 (9,671) 1,593
Total other income (expense) 21,724 10,036 (34,753) (28,967)
NET INCOME     210,300 184,250
NET LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Noncontrolling interest in subsidiaries     505 350
NET INCOME ATTRIBUTABLE TO CUBESMART L.P.     210,805 184,600
Operating Partnership interests of third parties $ (733) $ (3,149) (1,404) (6,466)
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS     $ 209,401 $ 178,134
Basic earnings per unit attributable to common unitholders     $ 0.93 $ 0.89
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.50 $ 0.43 $ 0.93 $ 0.88
Weighted-average basic units outstanding (in units) 225,023 202,194 224,883 200,934
Weighted-average diluted units outstanding (in units) 225,966 203,797 225,881 202,291
Other Property Related Income        
REVENUES        
Property related income $ 25,619 $ 21,892 $ 71,760 $ 62,414
Property Management Fee Income        
REVENUES        
Property related income 8,952 8,263 25,536 22,994
CubeSmart, L.P. and Subsidiaries        
REVENUES        
Rental income 226,837 182,409    
Total revenues 261,408 212,564    
OPERATING EXPENSES        
Property operating expenses 76,728 64,065    
Depreciation and amortization 79,574 55,871    
General and administrative 13,390 12,095    
Total operating expenses 169,692 132,031    
Interest:        
Interest expense on loans (23,850) (19,122)    
Loan procurement amortization expense (969) (1,012)    
Equity in earnings of real estate ventures 46,558 816 $ 47,532 $ 1,152
Gains from sales of real estate, net   28,815    
Other (15) 539    
Total other income (expense) 21,724 10,036    
NET INCOME 113,440 90,569    
NET LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Noncontrolling interest in subsidiaries 181 230    
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. 113,621 90,799    
Operating Partnership interests of third parties (733) (3,149)    
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS $ 112,888 $ 87,650    
Basic earnings per unit attributable to common unitholders $ 0.50 $ 0.43    
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.50 $ 0.43    
Weighted-average basic units outstanding (in units) 225,023 202,194    
Weighted-average diluted units outstanding (in units) 225,966 203,797    
CubeSmart, L.P. and Subsidiaries | Other Property Related Income        
REVENUES        
Property related income $ 25,619 $ 21,892    
CubeSmart, L.P. and Subsidiaries | Property Management Fee Income        
REVENUES        
Property related income $ 8,952 $ 8,263