v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES        
Rental income $ 242,217 $ 239,557 $ 482,142 $ 472,322
Total revenues 286,486 282,303 568,415 555,339
OPERATING EXPENSES        
Property operating expenses 96,018 89,028 186,086 171,962
Depreciation and amortization 55,839 66,488 117,277 125,644
General and administrative 17,246 14,897 34,435 30,965
Total operating expenses 169,103 170,413 337,798 328,571
Interest:        
Interest expense on loans (30,341) (29,090) (60,172) (55,190)
Loan procurement amortization expense (1,099) (1,221) (2,164) (2,442)
Equity in earnings of real estate ventures 556 547 1,163 926
Gain from sale of real estate, net 2,503   2,503  
Other 458 306 263 1,115
Total other expense $ (27,923) $ (29,458) $ (58,407) $ (55,591)
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.39 $ 0.36 $ 0.76 $ 0.75
Weighted-average basic units outstanding (in units) 226,774 228,737 227,289 228,700
Weighted-average diluted units outstanding (in units) 227,189 229,303 227,676 229,273
Other Property Related Income        
REVENUES        
Property related income $ 34,240 $ 32,596 $ 66,312 $ 62,362
Property Management Fee Income        
REVENUES        
Property related income 10,029 10,150 19,961 20,655
CubeSmart, L.P. and Subsidiaries        
REVENUES        
Rental income 242,217 239,557 482,142 472,322
Total revenues 286,486 282,303 568,415 555,339
OPERATING EXPENSES        
Property operating expenses 96,018 89,028 186,086 171,962
Depreciation and amortization 55,839 66,488 117,277 125,644
General and administrative 17,246 14,897 34,435 30,965
Total operating expenses 169,103 170,413 337,798 328,571
Interest:        
Interest expense on loans (30,341) (29,090) (60,172) (55,190)
Loan procurement amortization expense (1,099) (1,221) (2,164) (2,442)
Equity in earnings of real estate ventures 556 547 1,163 926
Gain from sale of real estate, net 2,503   2,503  
Other 458 306 263 1,115
Total other expense (27,923) (29,458) (58,407) (55,591)
NET INCOME 89,460 82,432 172,210 171,177
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Net loss attributable to noncontrolling interests in subsidiaries 520 929 1,014 1,834
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. $ 89,980 $ 83,361 $ 173,224 $ 173,011
Basic earnings per unit attributable to common unitholders (in dollars per share) $ 0.4 $ 0.36 $ 0.76 $ 0.75
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.39 $ 0.36 $ 0.76 $ 0.75
Weighted-average basic units outstanding (in units) 227,758 229,852 228,274 229,842
Weighted-average diluted units outstanding (in units) 228,173 230,418 228,661 230,415
CubeSmart, L.P. and Subsidiaries | Other Property Related Income        
REVENUES        
Property related income $ 34,240 $ 32,596 $ 66,312 $ 62,362
CubeSmart, L.P. and Subsidiaries | Property Management Fee Income        
REVENUES        
Property related income $ 10,029 $ 10,150 $ 19,961 $ 20,655