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CubeSmart (CUBE) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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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.
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) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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.