CubeSmart (NYSE:CUBE – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.660-0.680 for the period, compared to the consensus estimate of 0.670. The company issued revenue guidance of -. CubeSmart also updated its FY 2024 guidance to 2.610-2.670 EPS.
CubeSmart Price Performance
Shares of CUBE stock traded up $0.91 on Friday, reaching $48.72. 2,551,682 shares of the company were exchanged, compared to its average volume of 1,254,358. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 8.43 and a beta of 0.80. The business has a 50-day moving average price of $45.14 and a 200 day moving average price of $44.09. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a 1 year low of $33.17 and a 1 year high of $49.58.
CubeSmart (NYSE:CUBE – Get Free Report) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The company had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $260.68 million. CubeSmart had a return on equity of 14.34% and a net margin of 38.07%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.
CubeSmart Dividend Announcement
Analysts Set New Price Targets
CUBE has been the subject of a number of research reports. Evercore ISI boosted their target price on shares of CubeSmart from $44.00 to $45.00 and gave the stock an in-line rating in a research note on Monday, July 15th. Raymond James upped their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. BMO Capital Markets cut shares of CubeSmart from an outperform rating to a market perform rating and dropped their price objective for the company from $50.00 to $47.00 in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company upped their price objective on shares of CubeSmart from $46.00 to $48.00 and gave the company an equal weight rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $46.36.
Check Out Our Latest Report on CubeSmart
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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