CubeSmart (CUBE) Set to Announce Earnings on Thursday

CubeSmart (NYSE:CUBEGet Rating) will be posting its quarterly earnings results after the market closes on Thursday, August 4th. Analysts expect CubeSmart to post earnings of $0.59 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

CubeSmart (NYSE:CUBEGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.40). CubeSmart had a net margin of 26.65% and a return on equity of 10.78%. The firm had revenue of $238.57 million during the quarter, compared to the consensus estimate of $240.13 million. During the same quarter last year, the firm posted $0.47 earnings per share. CubeSmart’s revenue was up 26.3% compared to the same quarter last year. On average, analysts expect CubeSmart to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $44.08 on Thursday. CubeSmart has a twelve month low of $38.67 and a twelve month high of $57.34. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 2.36 and a beta of 0.49. The business has a 50 day simple moving average of $42.47 and a 200-day simple moving average of $47.41.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.90%. CubeSmart’s dividend payout ratio (DPR) is 163.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CUBE. Jefferies Financial Group reduced their price objective on CubeSmart from $66.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Evercore ISI set a $58.00 price target on CubeSmart in a research report on Monday, June 20th. Truist Financial reduced their price target on CubeSmart from $55.00 to $48.00 and set a “na” rating for the company in a research report on Monday, May 16th. Bank of America upgraded CubeSmart from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 21st. Finally, Raymond James upgraded CubeSmart from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $60.00 to $52.00 in a research report on Monday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Institutional Investors Weigh In On CubeSmart

Several hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP increased its position in CubeSmart by 2.7% in the 1st quarter. Quantbot Technologies LP now owns 20,710 shares of the real estate investment trust’s stock worth $1,077,000 after purchasing an additional 546 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of CubeSmart by 59.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,591 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 591 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of CubeSmart by 7.3% during the 1st quarter. Yousif Capital Management LLC now owns 11,869 shares of the real estate investment trust’s stock valued at $618,000 after acquiring an additional 810 shares during the last quarter. Covestor Ltd increased its holdings in shares of CubeSmart by 781.0% during the 1st quarter. Covestor Ltd now owns 1,533 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 1,359 shares during the last quarter. Finally, Cibc World Markets Corp increased its holdings in shares of CubeSmart by 1.6% during the 1st quarter. Cibc World Markets Corp now owns 110,145 shares of the real estate investment trust’s stock valued at $5,731,000 after acquiring an additional 1,772 shares during the last quarter. 95.92% of the stock is owned by hedge funds and other institutional investors.

About CubeSmart

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CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Earnings History for CubeSmart (NYSE:CUBE)

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