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.
Shares of CUBE stock traded up $1.19 during trading hours on Thursday, reaching $55.06. The company’s stock had a trading volume of 1,237,442 shares, compared to its average volume of 1,081,550. The firm’s 50 day simple moving average is $52.42 and its 200-day simple moving average is $49.62. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 50.05, a PEG 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. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.13.
CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, November 4th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.10). The business had revenue of $212.56 million during the quarter, compared to analyst estimates of $206.64 million. CubeSmart had a net margin of 28.28% and a return on equity of 11.73%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. Sell-side analysts predict that CubeSmart will post 2.1 earnings per share for the current year.
Several research firms recently weighed in on CUBE. Raymond James raised CubeSmart from an underperform rating to a market perform rating in a report on Tuesday, August 10th. Truist Securities raised their price objective on CubeSmart from $48.00 to $53.00 and gave the company a hold rating in a report on Monday, August 16th. Truist raised their price objective on CubeSmart from $48.00 to $53.00 and gave the company a hold rating in a report on Monday, August 16th. They noted that the move was a valuation call. Zacks Investment Research raised CubeSmart from a hold rating to a buy rating and set a $56.00 price objective on the stock in a report on Thursday, August 5th. Finally, Berenberg Bank assumed coverage on CubeSmart in a report on Thursday, October 7th. They set a hold rating and a $52.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, CubeSmart currently has an average rating of Hold and a consensus price target of $49.50.
CubeSmart Company Profile
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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