CubeSmart sees FY19 EPS 85c-89c, consensus 80c
"With our January issuance of $350M of senior unsecured notes and subsequent repayment of our $200M term loan due in 2019, we increased our weighted average debt maturity to 5.8 years," commented Chief Financial Officer Tim Martin. "We remain disciplined in our strategy to fund the Company's acquisition and value creation investment pipeline utilizing a balance of cash flow, equity proceeds and unsecured borrowings in a manner consistent with our investment grade ratings." The Company is adjusting its previously issued estimates and now expects that its fully diluted FFO per share, as adjusted, for 2019 will be between $1.65 and $1.69, and that its fully diluted earnings per share for the period will be between $0.85 and $0.89. Due to uncertainty related to the timing and terms of transactions, the impact of any potential future speculative investment activity is excluded from guidance. For 2019, the same store pool consists of 468 properties totaling 32.4 million square feet.