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CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES        
Rental income $ 230,954 $ 232,468 $ 682,935 $ 681,962
Total revenues 270,890 267,876 798,505 785,209
OPERATING EXPENSES        
Property operating expenses 81,868 77,546 242,002 223,494
Depreciation and amortization 51,210 49,985 152,962 150,672
General and administrative 14,265 14,060 44,512 43,059
Total operating expenses 147,343 141,591 439,476 417,225
Interest:        
Interest expense on loans (22,750) (23,204) (68,436) (70,439)
Loan procurement amortization expense (986) (1,030) (3,031) (3,111)
Equity in earnings of real estate ventures 418 1,141 1,688 4,482
Other 721 (119) 744 382
Total other expense $ (22,597) $ (23,212) $ (69,035) $ (68,686)
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.44 $ 0.45 $ 1.28 $ 1.32
Weighted-average basic units outstanding (in units) 226,166 225,467 225,941 225,380
Weighted-average diluted units outstanding (in units) 227,149 226,210 226,805 226,206
Other Property Related Income        
REVENUES        
Property related income $ 29,268 $ 25,857 $ 84,542 $ 76,001
Property Management Fee Income        
REVENUES        
Property related income 10,668 9,551 31,028 27,246
CubeSmart, L.P. and Subsidiaries        
REVENUES        
Rental income 230,954 232,468 682,935 681,962
Total revenues 270,890 267,876 798,505 785,209
OPERATING EXPENSES        
Property operating expenses 81,868 77,546 242,002 223,494
Depreciation and amortization 51,210 49,985 152,962 150,672
General and administrative 14,265 14,060 44,512 43,059
Total operating expenses 147,343 141,591 439,476 417,225
Interest:        
Interest expense on loans (22,750) (23,204) (68,436) (70,439)
Loan procurement amortization expense (986) (1,030) (3,031) (3,111)
Equity in earnings of real estate ventures 418 1,141 1,688 4,482
Other 721 (119) 744 382
Total other expense (22,597) (23,212) (69,035) (68,686)
NET INCOME 100,950 103,073 289,994 299,298
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Net loss attributable to noncontrolling interests in subsidiaries 398 212 910 662
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. $ 101,348 $ 103,285 $ 290,904 $ 299,960
Basic earnings per unit attributable to common unitholders (in dollars per share) $ 0.45 $ 0.46 $ 1.28 $ 1.32
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.44 $ 0.45 $ 1.28 $ 1.32
Weighted-average basic units outstanding (in units) 227,403 226,871 227,203 226,795
Weighted-average diluted units outstanding (in units) 228,386 227,614 228,067 227,621
CubeSmart, L.P. and Subsidiaries | Other Property Related Income        
REVENUES        
Property related income $ 29,268 $ 25,857 $ 84,542 $ 76,001
CubeSmart, L.P. and Subsidiaries | Property Management Fee Income        
REVENUES        
Property related income $ 10,668 $ 9,551 $ 31,028 $ 27,246