CubeSmart (NYSE:CUBE – Get Free Report) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.23), Zacks reports. CubeSmart had a net margin of 38.07% and a return on equity of 14.34%. The business had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $260.68 million. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue was up 2.1% on a year-over-year basis.
CubeSmart Stock Up 1.9 %
CubeSmart stock traded up $0.91 during mid-day trading on Friday, reaching $48.72. 2,551,682 shares of the company’s stock were exchanged, compared to its average volume of 1,254,358. The company has a market cap of $10.96 billion, a P/E ratio of 27.07, a P/E/G ratio of 8.43 and a beta of 0.80. CubeSmart has a twelve month low of $33.17 and a twelve month high of $49.58. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $45.14 and a 200-day moving average of $44.09.
CubeSmart Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 4.19%. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on CUBE
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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