CubeSmart Q1 FFO Rises

(RTTNews) - CubeSmart (CUBE) Thursday reported first-quarter funds from operations of $34.0 million or $0.23 per share, compared to $27.4 million or $0.20 per share last year.

Adjusted funds from operations for the quarter were $35.7 million or $0.25 pe share. Analysts polled by Thomson Reuters estimated FFO of $0.23 per share. Analysts' estimates typically exclude one-time items.

Net income for the quarter was $3.0 million or $0.02 per share, compared to a loss of $1.9 million or $0.01 per share last year.

Total revenues for the quarter rose to $87.3 million from $74.7 million last year. Analysts estimated revenues of $86.63 million for the quarter.