CubeSmart (NYSE:CUBE – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.610-2.670 for the period, compared to the consensus EPS estimate of 2.650. The company issued revenue guidance of -. CubeSmart also updated its FY24 guidance to $2.61-2.67 EPS.
CubeSmart Price Performance
Shares of NYSE CUBE traded up $0.91 during midday trading on Friday, reaching $48.72. 2,551,682 shares of the stock traded hands, compared to its average volume of 1,254,358. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market capitalization of $10.96 billion, a PE ratio of 27.07, a P/E/G ratio of 8.43 and a beta of 0.80. CubeSmart has a one year low of $33.17 and a one year high of $49.58. The company’s 50 day moving average is $45.14 and its 200 day moving average is $44.09.
CubeSmart (NYSE:CUBE – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $260.68 million. CubeSmart had a return on equity of 14.34% and a net margin of 38.07%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, equities research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Dividend Announcement
Analyst Ratings Changes
CUBE has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on CubeSmart from $46.00 to $48.00 and gave the stock an equal weight rating in a research report on Friday, July 26th. BMO Capital Markets downgraded CubeSmart from an outperform rating to a market perform rating and lowered their price target for the stock from $50.00 to $47.00 in a research report on Wednesday, May 29th. Evercore ISI increased their target price on CubeSmart from $44.00 to $45.00 and gave the stock an in-line rating in a research note on Monday, July 15th. Finally, Raymond James increased their target price on CubeSmart from $48.00 to $50.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CubeSmart has an average rating of Hold and an average price target of $46.36.
Check Out Our Latest Stock Report on CUBE
CubeSmart Company Profile
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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