CubeSmart (NYSE:CUBE – Get Free Report) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.630-0.650 for the period, compared to the consensus earnings per share estimate of 0.650. The company issued revenue guidance of -. CubeSmart also updated its FY 2024 guidance to 2.590-2.690 EPS.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on CubeSmart in a research report on Tuesday, January 30th. They issued a sell rating and a $40.00 price objective on the stock. Evercore ISI lifted their target price on CubeSmart from $43.00 to $45.00 and gave the stock an in-line rating in a report on Monday, March 4th. Wells Fargo & Company lifted their target price on CubeSmart from $42.00 to $46.00 and gave the stock an equal weight rating in a report on Friday, April 5th. Jefferies Financial Group raised CubeSmart from a hold rating to a buy rating and lifted their target price for the stock from $38.00 to $53.00 in a report on Tuesday, January 2nd. Finally, Barclays started coverage on CubeSmart in a research note on Wednesday, March 27th. They set an equal weight rating and a $48.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $46.33.
View Our Latest Stock Analysis on CUBE
CubeSmart Price Performance
CubeSmart Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s dividend payout ratio is presently 113.33%.
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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