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CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Rental income $ 226,791 $ 225,910 $ 451,981 $ 449,494
Total revenues 266,209 260,805 527,615 517,333
OPERATING EXPENSES        
Property operating expenses 83,097 74,821 160,134 145,948
Depreciation and amortization 51,035 50,358 101,752 100,687
General and administrative 14,622 14,325 30,247 28,999
Total operating expenses 148,754 139,504 292,133 275,634
Interest:        
Interest expense on loans (22,767) (23,544) (45,686) (47,235)
Loan procurement amortization expense (1,015) (1,041) (2,045) (2,081)
Equity in earnings of real estate ventures 425 790 1,270 3,341
Other 88 777 23 501
Total other expense (23,269) (23,018) (46,438) (45,474)
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Operating Partnership interests of third parties $ (524) $ (616) $ (1,065) $ (1,230)
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.41 $ 0.43 $ 0.83 $ 0.86
Weighted-average basic units outstanding (in units) 225,886 225,388 225,827 225,342
Weighted-average diluted units outstanding (in units) 226,618 226,275 226,593 226,238
Other Property Related Income        
REVENUES        
Property related income $ 28,958 $ 25,760 $ 55,274 $ 50,144
Property Management Fee Income        
REVENUES        
Property related income 10,460 9,135 20,360 17,695
CubeSmart, L.P. and Subsidiaries        
REVENUES        
Rental income 226,791 225,910 451,981 449,494
Total revenues 266,209 260,805 527,615 517,333
OPERATING EXPENSES        
Property operating expenses 83,097 74,821 160,134 145,948
Depreciation and amortization 51,035 50,358 101,752 100,687
General and administrative 14,622 14,325 30,247 28,999
Total operating expenses 148,754 139,504 292,133 275,634
Interest:        
Interest expense on loans (22,767) (23,544) (45,686) (47,235)
Loan procurement amortization expense (1,015) (1,041) (2,045) (2,081)
Equity in earnings of real estate ventures 425 790 1,270 3,341
Other 88 777 23 501
Total other expense (23,269) (23,018) (46,438) (45,474)
NET INCOME 94,186 98,283 189,044 196,225
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Net loss attributable to noncontrolling interest in subsidiaries 302 212 512 450
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. 94,488 98,495 189,556 196,675
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS $ 94,488 $ 98,495 $ 189,556 $ 196,675
Basic earnings per unit attributable to common unitholders (in dollars per share) $ 0.42 $ 0.43 $ 0.83 $ 0.87
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.41 $ 0.43 $ 0.83 $ 0.86
Weighted-average basic units outstanding (in units) 227,145 226,807 227,101 226,763
Weighted-average diluted units outstanding (in units) 227,877 227,694 227,867 227,659
CubeSmart, L.P. and Subsidiaries | Other Property Related Income        
REVENUES        
Property related income $ 28,958 $ 25,760 $ 55,274 $ 50,144
CubeSmart, L.P. and Subsidiaries | Property Management Fee Income        
REVENUES        
Property related income $ 10,460 $ 9,135 $ 20,360 $ 17,695