CubeSmart: Q3 Earnings Snapshot

MALVERN, Pa. (AP) — MALVERN, Pa. (AP) — CubeSmart (CUBE) on Thursday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The Malvern, Pennsylvania-based real estate investment trust said it had funds from operations of $154 million, or 68 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 67 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $102.6 million, or 45 cents per share.

The self-storage company, based in Malvern, Pennsylvania, posted revenue of $267.9 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $265.3 million.

For the current quarter ending in December, CubeSmart expects its per-share funds from operations to range from 67 cents to 69 cents.

The company expects full-year funds from operations in the range of $2.65 to $2.67 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUBE at https://www.zacks.com/ap/CUBE