CubeSmart (CUBE) Scheduled to Post Quarterly Earnings on Thursday

CubeSmart (NYSE:CUBE) is set to release 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 listen to 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). The company had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. On average, analysts expect CubeSmart to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

CubeSmart Stock Performance

CUBE stock opened at $49.29 on Thursday. The business’s fifty day moving average is $51.57 and its 200-day moving average is $46.91. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. The company has a market cap of $11.09 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 9.12 and a beta of 0.82. CubeSmart has a twelve month low of $33.17 and a twelve month high of $55.14.

Wall Street Analysts Forecast Growth

CUBE has been the topic of a number of analyst reports. Truist Financial increased 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. Evercore ISI increased their price target on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Jefferies Financial Group increased their price target on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Raymond James increased their price target on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $54.00 in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CubeSmart has an average rating of “Hold” and a consensus target price of $50.67.

Insiders Place Their Bets

In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the completion of the transaction, the chief executive officer now owns 576,836 shares in the company, valued at approximately $27,947,704.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the completion of the transaction, the chief executive officer now owns 576,836 shares in the company, valued at approximately $27,947,704.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,217 shares of company stock worth $4,244,344. Corporate insiders own 1.68% of the company’s stock.

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.