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CubeSmart Q1 Adjusted FFO Declines, Revenue Rises

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CubeSmart (CUBE) reported Q1 adjusted funds from operations late Thursday of $0.63 per diluted share, down from $0.64 a year earlier.

Analysts polled by FactSet expected $0.62.

Revenue for the three months ended March 31 rose to $281.9 million from $273 million a year earlier.

Analysts polled by FactSet expected $275.2 million.

The company expects Q2 adjusted FFO of $0.62 to $0.64. Analysts polled by FactSet expect $0.61.

CubeSmart shares rose 2% in after-hours trading.

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