CubeSmart (NYSE:CUBE) Issues Q2 Earnings Guidance

CubeSmart (NYSE:CUBE) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.63-0.65 for the period, compared to the consensus EPS estimate of $0.65. CubeSmart also updated its FY 2024 guidance to 2.590-2.690 EPS.

Wall Street Analyst Weigh In

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

CubeSmart Trading Down 1.5 %

NYSE CUBE traded down $0.62 during trading on Friday, hitting $40.76. The stock had a trading volume of 1,165,289 shares, compared to its average volume of 1,216,967. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 22.64 and a beta of 0.69. CubeSmart has a one year low of $33.17 and a one year high of $47.81. The stock has a 50 day simple moving average of $43.70 and a 200 day simple moving average of $42.28.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.00%. The ex-dividend date was Thursday, March 28th. CubeSmart’s payout ratio is currently 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.