CubeSmart (NYSE:CUBE – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.59-2.69 for the period, compared to the consensus EPS estimate of $2.65. CubeSmart also updated its Q2 guidance to $0.63-0.65 EPS.
CubeSmart Stock Down 1.8 %
Shares of NYSE:CUBE traded down $0.74 on Thursday, hitting $41.38. 1,243,008 shares of the company’s stock were exchanged, compared to its average volume of 1,478,720. The firm’s 50-day moving average is $43.83 and its 200 day moving average is $42.27. The company has a market capitalization of $9.31 billion, a PE ratio of 23.26 and a beta of 0.69. CubeSmart has a 1-year low of $33.17 and a 1-year high of $47.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04.
CubeSmart Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.93%. CubeSmart’s dividend payout ratio is currently 112.71%.
Wall Street Analyst Weigh In
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CubeSmart Company Profile
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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