Core Insights - CubeSmart (CUBE) reported revenue of $270.89 million for the quarter ended September 2024, reflecting a 1.1% increase year-over-year, and an EPS of $0.67 compared to $0.45 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $267.5 million by 1.27%, while the EPS fell short of the consensus estimate of $0.68 by 1.47% [1] Financial Performance Metrics - Property management fee income was reported at $10.67 million, slightly below the average estimate of $10.68 million, but showed an 11.7% year-over-year increase [3] - Rental income amounted to $230.95 million, which was lower than the average estimate of $232.91 million, representing a 0.7% decrease year-over-year [3] - Other property-related income was reported at $29.27 million, matching the average estimate and reflecting a 13.2% year-over-year increase [3] - Net Earnings Per Share (Diluted) was $0.44, slightly below the average estimate of $0.45 [3] Stock Performance - CubeSmart's shares have declined by 7.9% over the past month, contrasting with a 1% increase in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [4]
CubeSmart (CUBE) Reports Q3 Earnings: What Key Metrics Have to Say