CubeSmart (CUBE) to Release Earnings on Thursday

CubeSmart (NYSE:CUBE) is scheduled to be releasing its earnings data after the market closes on Thursday, October 31st. Analysts expect CubeSmart to post earnings of $0.68 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $260.68 million. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts expect CubeSmart to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

CubeSmart Stock Down 0.5 %

CUBE opened at $47.99 on Tuesday. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.03. The firm’s fifty day moving average price is $51.56 and its two-hundred day moving average price is $47.01. The company has a market capitalization of $10.81 billion, a P/E ratio of 26.96, a P/E/G ratio of 8.81 and a beta of 0.82.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CUBE shares. Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Scotiabank started coverage on CubeSmart in a report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price objective for the company. Raymond James lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada began coverage on CubeSmart in a report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price objective for the company. Finally, Jefferies Financial Group lifted their price target on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus target price of $50.58.

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following the completion of the sale, the insider now directly owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following the completion of the sale, the insider now directly owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total value of $1,792,650.00. Following the sale, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at $27,947,704.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 88,217 shares of company stock valued at $4,244,344. 1.68% of the stock is currently owned by insiders.

About CubeSmart

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, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.