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CubeSmart beats and lifts full-year guidance

Published 10/27/2016, 04:42 PM
CubeSmart beats and lifts full-year guidance
  • Q3 adjusted FFO of $68.7M or $0.38 per share vs. $58.5M and $0.34 one year ago.
  • Same-store (407) revenue growth of 6.2% Y/Y; expenses down 0.9%; NOI growth of 9.3%.
  • Same-store occupancy averaged 93.8% during quarter, up 40 bps Y/Y.
  • Full-year adjusted FFO guidance is lifted to $1.43-$1.44 per share from $1.40-$1.44 previously. Q4 AFFO guidance of $0.37-$0.38 per share.
  • Conference call tomorrow at 11 ET
  • Previously: CubeSmart beats by $0.01, beats on revenue (Oct. 27)
  • CUBE flat after hours

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