CubeSmart (NYSE:CUBE) Releases Q4 2024 Earnings Guidance

CubeSmart (NYSE:CUBE) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.670-0.700 for the period, compared to the consensus earnings per share estimate of 0.680. The company issued revenue guidance of -. CubeSmart also updated its FY 2024 guidance to 2.620-2.660 EPS.

Wall Street Analyst Weigh In

CUBE has been the subject of several recent research reports. Truist Financial lifted their price objective on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 16th. Barclays dropped their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday. Royal Bank of Canada started coverage on shares of CubeSmart in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $56.00 price objective for the company. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and increased their target price for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Finally, Jefferies Financial Group boosted their price target on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus price target of $51.73.

CubeSmart Stock Down 1.0 %

CUBE stock traded down $0.47 on Thursday, hitting $47.80. 1,881,721 shares of the company’s stock were exchanged, compared to its average volume of 1,349,804. The firm has a 50 day moving average price of $51.50 and a two-hundred day moving average price of $47.04. CubeSmart has a 12-month low of $33.32 and a 12-month high of $55.14. The stock has a market cap of $10.76 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 8.81 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.03 and a current ratio of 0.03.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The business had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. CubeSmart’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities research analysts expect that CubeSmart will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the sale, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at $27,947,704.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher P. Marr sold 37,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total value of $1,792,650.00. Following the completion of the transaction, the chief executive officer now directly owns 576,836 shares in the company, valued at $27,947,704.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Joel D. Keaton sold 43,478 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the sale, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,217 shares of company stock worth $4,244,344 in the last three months. Corporate insiders own 1.68% of the company’s stock.

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.