CubeSmart (NYSE:CUBE) Issues Q2 2024 Earnings Guidance

CubeSmart (NYSE:CUBE) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.630-0.650 for the period, compared to the consensus EPS estimate of 0.650. The company issued revenue guidance of -. CubeSmart also updated its FY 2024 guidance to 2.590-2.690 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Evercore ISI increased their target price on CubeSmart from $43.00 to $45.00 and gave the company an in-line rating in a research note on Monday, March 4th. Barclays initiated coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They set an equal weight rating and a $48.00 target price for the company. Wells Fargo & Company raised their price objective on CubeSmart from $42.00 to $46.00 and gave the stock an equal weight rating in a research report on Friday, April 5th. Jefferies Financial Group raised shares of CubeSmart from a hold rating to a buy rating and lifted their target price for the company from $38.00 to $53.00 in a research note on Tuesday, January 2nd. Finally, Raymond James reaffirmed an outperform rating and set a $48.00 price objective on shares of CubeSmart in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CubeSmart presently has a consensus rating of Hold and a consensus price target of $46.33.

CubeSmart Stock Down 1.5 %

NYSE:CUBE traded down $0.62 during trading hours on Friday, reaching $40.76. 1,165,289 shares of the stock were exchanged, compared to its average volume of 1,216,967. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a twelve month low of $33.17 and a twelve month high of $47.81. The firm has a 50 day moving average of $43.70 and a 200 day moving average of $42.31. The stock has a market cap of $9.17 billion, a PE ratio of 22.64 and a beta of 0.69.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.04 annualized dividend and a yield of 5.00%. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.

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.