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CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES        
Rental income $ 232,468 $ 226,837 $ 681,962 $ 651,341
Total revenues 267,876 261,408 785,209 748,637
OPERATING EXPENSES        
Property operating expenses 77,546 76,728 223,494 220,767
Depreciation and amortization 49,985 79,574 150,672 241,177
General and administrative 14,060 13,390 43,059 41,640
Total operating expenses 141,591 169,692 417,225 503,584
Interest:        
Interest expense on loans (23,204) (23,850) (70,439) (69,729)
Loan procurement amortization expense (1,030) (969) (3,111) (2,885)
Equity in earnings of real estate ventures 1,141 46,558 4,482 47,532
Other (119) (15) 382 (9,671)
Total other (expense) income (23,212) 21,724 (68,686) (34,753)
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Operating Partnership interests of third parties $ (640) $ (733) $ (1,870) $ (1,404)
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.45 $ 0.50 $ 1.32 $ 0.93
Weighted-average basic units outstanding (in units) 225,467 225,023 225,380 224,883
Weighted-average diluted units outstanding (in units) 226,210 225,966 226,206 225,881
Other Property Related Income        
REVENUES        
Property related income $ 25,857 $ 25,619 $ 76,001 $ 71,760
Property Management Fee Income        
REVENUES        
Property related income 9,551 8,952 27,246 25,536
CubeSmart, L.P. and Subsidiaries        
REVENUES        
Rental income 232,468 226,837 681,962 651,341
Total revenues 267,876 261,408 785,209 748,637
OPERATING EXPENSES        
Property operating expenses 77,546 76,728 223,494 220,767
Depreciation and amortization 49,985 79,574 150,672 241,177
General and administrative 14,060 13,390 43,059 41,640
Total operating expenses 141,591 169,692 417,225 503,584
Interest:        
Interest expense on loans (23,204) (23,850) (70,439) (69,729)
Loan procurement amortization expense (1,030) (969) (3,111) (2,885)
Equity in earnings of real estate ventures 1,141 46,558 4,482 47,532
Other (119) (15) 382 (9,671)
Total other (expense) income (23,212) 21,724 (68,686) (34,753)
NET INCOME 103,073 113,440 299,298 210,300
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Noncontrolling interest in subsidiaries 212 181 662 505
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. 103,285 113,621 299,960 210,805
Operating Partnership interests of third parties (640) (733) (1,870) (1,404)
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS $ 102,645 $ 112,888 $ 298,090 $ 209,401
Basic earnings per unit attributable to common unitholders (in dollars per share) $ 0.46 $ 0.50 $ 1.32 $ 0.93
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.45 $ 0.50 $ 1.32 $ 0.93
Weighted-average basic units outstanding (in units) 225,467 225,023 225,380 224,883
Weighted-average diluted units outstanding (in units) 226,210 225,966 226,206 225,881
CubeSmart, L.P. and Subsidiaries | Other Property Related Income        
REVENUES        
Property related income $ 25,857 $ 25,619 $ 76,001 $ 71,760
CubeSmart, L.P. and Subsidiaries | Property Management Fee Income        
REVENUES        
Property related income $ 9,551 $ 8,952 $ 27,246 $ 25,536