CubeSmart (NYSE:CUBE) Releases FY 2021 Earnings Guidance

CubeSmart (NYSE:CUBE) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.090-$2.100 for the period. The company issued revenue guidance of -.CubeSmart also updated its Q4 2021 guidance to $0.560-$0.570 EPS.

CUBE stock traded up $1.19 during trading on Thursday, hitting $55.06. The company had a trading volume of 1,237,442 shares, compared to its average volume of 1,081,550. The company has a fifty day moving average price of $52.42 and a two-hundred day moving average price of $49.62. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.13. The company has a market cap of $11.19 billion, a P/E ratio of 50.05, a P/E/G ratio of 2.93 and a beta of 0.35. CubeSmart has a fifty-two week low of $31.44 and a fifty-two week high of $56.64.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, November 4th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.10). CubeSmart had a net margin of 28.28% and a return on equity of 11.73%. The company had revenue of $212.56 million during the quarter, compared to analyst estimates of $206.64 million. During the same period in the prior year, the firm earned $0.44 EPS. CubeSmart’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts expect that CubeSmart will post 2.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd will be given a $0.43 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, December 31st. This represents a $1.72 annualized dividend and a yield of 3.12%. CubeSmart’s payout ratio is presently 123.64%.

Several equities analysts have issued reports on CUBE shares. Truist Securities lifted their price objective on CubeSmart from $48.00 to $53.00 and gave the company a hold rating in a research report on Monday, August 16th. Zacks Investment Research upgraded CubeSmart from a hold rating to a buy rating and set a $56.00 price objective for the company in a research report on Thursday, August 5th. Raymond James upgraded CubeSmart from an underperform rating to a market perform rating in a research report on Tuesday, August 10th. Berenberg Bank assumed coverage on CubeSmart in a research report on Thursday, October 7th. They set a hold rating and a $52.00 target price for the company. Finally, Truist boosted their target price on CubeSmart from $48.00 to $53.00 and gave the stock a hold rating in a research report on Monday, August 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $49.50.

About CubeSmart

CubeSmart operates as a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.

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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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