CubeSmart reports results for the quarter ended in June - Earnings Summary

CubeSmart

02/08/2024 04:26

* CubeSmart  CUBE.N  reported quarterly adjusted earnings of
41
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 43
cents.  The mean expectation of eight analysts for the quarter
was for earnings of 42 cents per share. Wall Street expected
results to range from 41 cents to 43 cents per share.
    * Revenue rose 17.8% to $266.21 million from a year ago;
analysts
expected $254.94 million. 
    * CubeSmart's reported EPS for the quarter was 41 cents​.
    * The company reported quarterly net income of $93.96
million.
    * CubeSmart shares had risen by 5.3% this quarter and
gained 2.7%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.1%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 11
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "hold"

Wall Street's median 12-month price target for CubeSmart is
$48.00 
This summary was machine generated from LSEG data August 2 at
03:25 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.64           0.64           Met
 Mar. 31 2024      0.65           0.64           Missed
 Dec. 31 2023      0.68           0.70           Beat
 Sep. 30 2023      0.67           0.68           Beat