CubeSmart Q3 Profit Beats Estimates - Quick Facts

(RTTNews) - CubeSmart (CUBE) reported third-quarter net income to shareholders of $6.98 million or $0.05 per share, compared to $14.84 million or $0.11 per share, last year. FFO increased to $41.55 million from $34.58 million, a year ago. FFO per share, as adjusted, was $0.28 for the third quarter of 2014.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.27 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $97.09 million from $82.49 million, last year. Analysts expected revenue of $94.47 million for the quarter.

The company now expects 2014 FFO per share, as adjusted, to be between $1.06 and $1.07 (previously between $1.03 and $1.06), and net income per share to be between $0.16 and $0.17 (previously between $0.13 to $0.16). Analysts expect the company to report full year earnings per share of $1.05.

The company estimates fourth-quarter FFO, as adjusted, per share to be between $0.26 and $0.27, and earnings per share to be between $0.04 and $0.05. Analysts expect the company to report fourth-quarter earnings per share of $0.27.