2023-04-27 16:24:31 ET
- CubeSmart press release ( NYSE: CUBE ): Q1 FFO of $0.65 in-line.
- Revenue of $226.73M (+6.9% Y/Y) misses by $34.41M .
- Increased same-store (593 stores) net operating income (“NOI”) 9.1% year over year, driven by 6.9% revenue growth and a 1.0% increase in property operating expenses.
- Averaged same-store occupancy of 91.5% during the quarter and ended the quarter at 91.9%.
- Added 25 stores to our third-party management platform during the quarter, bringing our total third-party managed store count to 676.
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CubeSmart FFO of $0.65 in-line, revenue of $226.73M misses by $34.41M