CubeSmart (CUBE) Reports Q3 Earnings: What Key Metrics Have to Say

Zacks Equity Research
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For the quarter ended September 2024, CubeSmart (CUBE) reported revenue of $270.89 million, up 1.1% over the same period last year. EPS came in at $0.67, compared to $0.45 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $267.5 million, representing a surprise of +1.27%. The company delivered an EPS surprise of -1.47%, with the consensus EPS estimate being $0.68.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how CubeSmart performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Property management fee income: $10.67 million compared to the $10.68 million average estimate based on three analysts. The reported number represents a change of +11.7% year over year.

  • Rental income: $230.95 million compared to the $232.91 million average estimate based on two analysts. The reported number represents a change of -0.7% year over year.

  • Other property related income: $29.27 million compared to the $29.27 million average estimate based on two analysts. The reported number represents a change of +13.2% year over year.

  • Net Earnings Per Share (Diluted): $0.44 versus $0.45 estimated by four analysts on average.

View all Key Company Metrics for CubeSmart here>>>

Shares of CubeSmart have returned -7.9% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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