CubeSmart Q4 FFO Misses by 2.75%, Revenue Reaches $282.69M
CubeSmart reported Q4 FFO of $0.64 per share, missing the $0.66 consensus by 2.75%, while revenue of $282.69 million topped estimates by 0.79%. Management forecasts next-quarter FFO of $0.64 on $280.38 million revenue, and the stock has risen 10.2% year to date despite a Sell rating.
1. Q4 FFO and Revenue Results
CubeSmart posted Q4 FFO of $0.64 per share compared to the $0.66 consensus, missing estimates by 2.75%. Revenue for the quarter reached $282.69 million, beating the $280.38 million consensus by 0.79%.
2. Year-over-Year Trends and Estimate Beats
FFO declined from $0.68 a year ago, marking only two beats in the last four quarters, while revenue rose from $231.41 million last year and has topped estimates in four consecutive quarters.
3. Outlook and Market Reaction
Management forecasts $0.64 FFO on $280.38 million revenue for the next quarter. Shares have gained 10.2% since the start of the year despite analysts assigning a Sell rating due to recent estimate revisions and a bottom-quartile industry ranking.