CubeSmart Q1 2024 FFO $0.64 Misses $0.65 Estimate, Sales $261.406M Beat $242.356M Estimate
Portfolio Pulse from Benzinga Newsdesk
CubeSmart (NYSE:CUBE) reported Q1 2024 FFO of $0.64 per share, missing the consensus estimate of $0.65 by 1.54%. However, their quarterly sales of $261.406M exceeded the estimate of $242.356M by 7.86%, marking a 1.90% increase from the previous year.

April 25, 2024 | 8:27 pm
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CubeSmart's Q1 2024 FFO per share missed estimates slightly, but sales exceeded expectations and showed year-over-year growth.
The slight miss in FFO per share might concern some investors, potentially putting downward pressure on the stock. However, the significant beat on sales estimates and year-over-year growth could offset concerns, suggesting a neutral short-term impact. The company's ability to exceed sales expectations indicates operational strength, which might reassure investors about its growth trajectory.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100