CubeSmart (NYSE:CUBE) Issues Q4 2024 Earnings Guidance

CubeSmart (NYSE:CUBE) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.670-0.700 for the period, compared to the consensus 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

Several analysts recently commented on CUBE shares. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and raised their price target for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Wells Fargo & Company raised their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Truist Financial upped their price target on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Jefferies Financial Group raised their price objective on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI upped their target price on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.73.

CubeSmart Price Performance

CUBE stock traded down $0.47 during mid-day trading on Thursday, reaching $47.80. The company’s stock had a trading volume of 1,881,721 shares, compared to its average volume of 1,349,804. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average is $51.50 and its two-hundred day moving average is $47.04. CubeSmart has a fifty-two week low of $33.32 and a fifty-two week high of $55.14. The stock has a market cap of $10.76 billion, a PE ratio of 26.88, a P/E/G ratio of 8.81 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data 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 14.37% and a net margin of 38.07%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. Equities research analysts expect that CubeSmart will post 2.65 EPS for the current year.

Insiders Place Their Bets

In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of CubeSmart stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the transaction, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at $4,205,194.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the completion of the sale, the chief operating officer now owns 87,663 shares of the company’s stock, valued at $4,205,194.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Foster sold 7,739 shares of CubeSmart stock in a transaction on Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now owns 182,460 shares in the company, valued at $8,630,358. 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 valued at $4,244,344 in the last three months. 1.68% of the stock is currently owned by insiders.

About CubeSmart

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.