CubeSmart (CUBE - Free Report) reported $267.88 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 2.5%. EPS of $0.68 for the same period compares to $0.51 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $265.3 million, representing a surprise of +0.97%. The company delivered an EPS surprise of +1.49%, with the consensus EPS estimate being $0.67.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $9.55 million compared to the $9.47 million average estimate based on four analysts. The reported number represents a change of +6.7% year over year.
- Rental income: $232.47 million versus $230.31 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.5% change.
- Other property related income: $25.86 million versus the three-analyst average estimate of $26.41 million. The reported number represents a year-over-year change of +0.9%.
- Net Earnings Per Share (Diluted): $0.45 versus the five-analyst average estimate of $0.44.
View all Key Company Metrics for CubeSmart here>>>Shares of CubeSmart have returned -8.1% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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CubeSmart (CUBE - Free Report) reported $267.88 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 2.5%. EPS of $0.68 for the same period compares to $0.51 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $265.3 million, representing a surprise of +0.97%. The company delivered an EPS surprise of +1.49%, with the consensus EPS estimate being $0.67.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $9.55 million compared to the $9.47 million average estimate based on four analysts. The reported number represents a change of +6.7% year over year.
- Rental income: $232.47 million versus $230.31 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.5% change.
- Other property related income: $25.86 million versus the three-analyst average estimate of $26.41 million. The reported number represents a year-over-year change of +0.9%.
- Net Earnings Per Share (Diluted): $0.45 versus the five-analyst average estimate of $0.44.
View all Key Company Metrics for CubeSmart here>>>Shares of CubeSmart have returned -8.1% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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