CubeSmart (NYSE:CUBE – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.660-0.680 for the period, compared to the consensus EPS estimate of 0.670. The company issued revenue guidance of -. CubeSmart also updated its FY 2024 guidance to 2.610-2.670 EPS.
CubeSmart Stock Up 1.9 %
Shares of NYSE CUBE traded up $0.91 during trading on Friday, reaching $48.72. The company had a trading volume of 2,551,682 shares, compared to its average volume of 1,254,358. CubeSmart has a 12-month low of $33.17 and a 12-month high of $49.58. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average is $45.14 and its 200 day moving average is $44.09. The stock has a market cap 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 (NYSE:CUBE – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.23). The firm had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $260.68 million. CubeSmart had a net margin of 38.07% and a return on equity of 14.34%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. As a group, equities 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 several research analyst reports. Raymond James lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an outperform rating in a report on Tuesday, July 23rd. Evercore ISI lifted their price target 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. BMO Capital Markets downgraded shares of CubeSmart from an outperform rating to a market perform rating and lowered their price objective for the company from $50.00 to $47.00 in a research report on Wednesday, May 29th. Finally, Wells Fargo & Company lifted their target price on shares of CubeSmart from $46.00 to $48.00 and gave the stock an equal weight rating in a research report on Friday, July 26th. One equities 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. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $46.36.
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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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