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.

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.

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

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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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