CubeSmart FFO of $0.65 in-line, revenue of $285.08M beats by $1.43M

* CubeSmart press release [https://seekingalpha.com/pr/20287434-cubesmart-reports-third-quarter-2025-results] (CUBE [https://seekingalpha.com/symbol/CUBE]): Q3 FFO of $0.65 in-line.
* Revenue of $285.08M (+5.2% Y/Y) beats by $1.43M.
* Shares -0.38%.
*
2025 Financial Outlook

“In August, we raised $450 million through a successful bond offering, our first in almost four years, showcasing our access to attractively-priced capital,” commented Chief Financial Officer Tim Martin. “Continued stabilizing trends through the third quarter positioned us to further increase the midpoints of our full year FFO per share and same-store guidance ranges.”

The Company estimates that its fully diluted earnings per share for 2025 will be between $1.46 and $1.50, and that its fully diluted FFO per share, as adjusted, for 2025 will be between $2.56 and $2.60. Due to uncertainty related to the timing and terms of transactions, the impact of any potential future speculative investment activity is excluded from guidance. For 2025, the same-store pool consists of 606 properties totaling 43.8 million rentable square feet.

2025 Full Year Guidance Range Summary
Current Ranges for Annual Assumptions

Prior Guidance (1)

Same-store revenue growth

(1.00
%)

to

(0.25
%)

(1.25
%)

to

(0.25
%)

Same-store expense growth

1.00
%

to

2.00
%

1.50
%

to

3.00
%

Same-store NOI growth

(1.75
%)

to

(0.75
%)

(2.75
%)

to

(1.25
%)

Acquisition of consolidated operating properties
$518.1M

$452.8M

Dilution from properties in lease-up
$
(0.01
)

to
$
(0.02
)

$
(0.01
)

to
$
(0.02
)

Property management fee income
$
40.0M

to
$
41.0M

$
41.0M

to
$
42.0M

General and administrative expenses
$
64.0M

to
$
65.0M

$
63.0M

to
$
64.0M

Interest and loan amortization expense
$
118.0M

to
$
122.0M

$
118.0M

to
$
122.0M

Full year weighted average shares and units
230.5M

230.5M

Diluted earnings per share attributable to common shareholders
$
1.46

to
$
1.50

$
1.44

to
$
1.50

Plus: real estate depreciation and amortization

1.10

1.10

1.10

1.10

FFO, as adjusted, per diluted share
$
2.56

to
$
2.60

$
2.54

to
$
2.60

Click to enlarge
*

FY FFO consensus is $2.59
FY Revenue consensus is $1.11B

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* Seeking Alpha’s Quant Rating on CubeSmart [https://seekingalpha.com/symbol/CUBE/ratings/quant-ratings]