CubeSmart (NYSE:CUBE) Issues FY 2024 Earnings Guidance

CubeSmart (NYSE:CUBE) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.590-2.690 for the period, compared to the consensus EPS estimate of 2.650. The company issued revenue guidance of -. CubeSmart also updated its FY24 guidance to $2.59-2.69 EPS.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on CubeSmart in a report on Tuesday, January 30th. They issued a sell rating and a $40.00 price target for the company. Evercore ISI increased their price target on CubeSmart from $43.00 to $45.00 and gave the company an in-line rating in a report on Monday, March 4th. Raymond James restated an outperform rating and set a $48.00 price objective on shares of CubeSmart in a research note on Thursday, March 28th. Barclays initiated coverage on CubeSmart in a research note on Wednesday, March 27th. They set an equal weight rating and a $48.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on CubeSmart from $42.00 to $46.00 and gave the company an equal weight rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CubeSmart has an average rating of Hold and a consensus target price of $46.33.

CubeSmart Stock Performance

CUBE stock traded down $0.62 on Friday, reaching $40.76. The company’s stock had a trading volume of 1,165,289 shares, compared to its average volume of 1,216,967. CubeSmart has a 52 week low of $33.17 and a 52 week high of $47.81. The company has a market capitalization of $9.17 billion, a P/E ratio of 22.64 and a beta of 0.69. The firm has a fifty day moving average of $43.70 and a two-hundred day moving average of $42.31. 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 Dividend Announcement

The company also recently disclosed 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 was Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a yield of 5.00%. CubeSmart’s payout ratio is 113.33%.

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.