CubeSmart (NYSE:CUBE – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.63-0.65 for the period, compared to the consensus earnings per share estimate of $0.65. CubeSmart also updated its FY 2024 guidance to 2.590-2.690 EPS.
CubeSmart Stock Down 1.5 %
CUBE stock traded down $0.62 during mid-day trading on Friday, hitting $40.76. 1,165,289 shares of the company were exchanged, compared to its average volume of 1,216,967. The firm has a fifty day simple moving average of $43.70 and a 200 day simple moving average of $42.28. The company has a market capitalization of $9.17 billion, a PE ratio of 22.64 and a beta of 0.69. CubeSmart has a twelve month low of $33.17 and a twelve month high of $47.81. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.
CubeSmart Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Thursday, March 28th. CubeSmart’s dividend payout ratio is currently 113.33%.
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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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