CubeSmart Q4 2023 FFO $0.70 Beats $0.68 Estimate, Sales $222.30M Miss $244.66M Estimate
Portfolio Pulse from Benzinga Newsdesk
CubeSmart (NYSE:CUBE) reported Q4 2023 earnings of $0.70 per share, surpassing the $0.68 estimate. However, their quarterly sales of $222.30M fell short of the $244.66M estimate, marking a 14.82% decrease from the previous year.
February 29, 2024 | 9:22 pm
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CubeSmart's Q4 2023 earnings exceeded expectations, but sales missed estimates and showed a significant year-over-year decline.
While CubeSmart's earnings per share exceeded analyst expectations, the miss on sales estimates and the significant year-over-year decline could concern investors. The mixed results may lead to neutral short-term stock price movement as the market digests both the positive earnings surprise and the negative sales performance.
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