CubeSmart (CUBE) Scheduled to Post Quarterly Earnings on Thursday

CubeSmart (NYSE:CUBE) will be announcing its earnings results after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $0.68 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted $0.66 EPS. CubeSmart’s revenue for the quarter 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 Price Performance

NYSE CUBE opened at $49.29 on Thursday. CubeSmart has a twelve month low of $33.17 and a twelve month high of $55.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market capitalization of $11.09 billion, a PE ratio of 27.28, a P/E/G ratio of 9.12 and a beta of 0.82. The stock has a 50-day simple moving average of $51.57 and a 200 day simple moving average of $46.91.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Jefferies Financial Group boosted their price objective on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays boosted their price target on CubeSmart from $48.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial boosted their price target on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, August 16th. 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. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and a consensus price target of $50.67.

Insider Activity

In other news, COO Joel D. Keaton sold 43,478 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the sale, the chief operating officer now directly owns 87,663 shares in the company, valued at approximately $4,205,194.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following the sale, the insider now directly owns 182,460 shares in the company, valued at $8,630,358. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the sale, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,217 shares of company stock worth $4,244,344. Company insiders own 1.68% of the company’s stock.

CubeSmart Company Profile

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.