CubeSmart (NYSE:CUBE – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.590-2.690 for the period, compared to the consensus earnings per share estimate of 2.650. The company issued revenue guidance of -. CubeSmart also updated its FY24 guidance to $2.59-2.69 EPS.
CubeSmart Stock Performance
Shares of NYSE CUBE traded down $0.62 during midday trading on Friday, hitting $40.76. 1,165,289 shares of the company’s stock traded hands, compared to its average volume of 1,216,967. CubeSmart has a 1 year low of $33.17 and a 1 year high of $47.81. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 22.64 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a fifty day moving average of $43.70 and a 200 day moving average of $42.31.
CubeSmart Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.00%. The ex-dividend date was Thursday, March 28th. CubeSmart’s dividend payout ratio is 113.33%.
Wall Street Analyst Weigh In
Read Our Latest Analysis on CUBE
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.
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