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CubeSmart (CUBE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, CubeSmart (CUBE - Free Report) reported revenue of $260.81 million, up 4.9% over the same period last year. EPS came in at $0.66, compared to $0.26 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $262.42 million, representing a surprise of -0.62%. 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.
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: $9.14 million versus the four-analyst average estimate of $8.98 million. The reported number represents a year-over-year change of +5.4%.
Rental income: $225.91 million compared to the $230.96 million average estimate based on three analysts. The reported number represents a change of +4.5% year over year.
Other property related income: $25.76 million versus the three-analyst average estimate of $24.86 million. The reported number represents a year-over-year change of +8%.
Net Earnings Per Share (Diluted): $0.43 compared to the $0.42 average estimate based on four analysts.
Shares of CubeSmart have returned -5.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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CubeSmart (CUBE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, CubeSmart (CUBE - Free Report) reported revenue of $260.81 million, up 4.9% over the same period last year. EPS came in at $0.66, compared to $0.26 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $262.42 million, representing a surprise of -0.62%. 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.
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: $9.14 million versus the four-analyst average estimate of $8.98 million. The reported number represents a year-over-year change of +5.4%.
- Rental income: $225.91 million compared to the $230.96 million average estimate based on three analysts. The reported number represents a change of +4.5% year over year.
- Other property related income: $25.76 million versus the three-analyst average estimate of $24.86 million. The reported number represents a year-over-year change of +8%.
- Net Earnings Per Share (Diluted): $0.43 compared to the $0.42 average estimate based on four analysts.
View all Key Company Metrics for CubeSmart here>>>Shares of CubeSmart have returned -5.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.