CubeSmart (CUBE) to Release Quarterly Earnings on Thursday

CubeSmart (NYSE:CUBE - Get Free Report) will be issuing its quarterly earnings data after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $0.68 per share for the quarter. Investors interested in registering for the company's conference call can do so using this link.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.23). The firm had revenue of $266.20 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.66 earnings per share. 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 traded down $0.21 during trading hours on Thursday, hitting $49.09. 840,154 shares of the stock were exchanged, compared to its average volume of 1,349,303. The company has a 50-day simple moving average of $51.58 and a two-hundred day simple moving average of $46.92. The firm has a market capitalization of $11.05 billion, a P/E ratio of 27.58, a P/E/G ratio of 8.86 and a beta of 0.82. CubeSmart has a 12 month low of $33.17 and a 12 month high of $55.14. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03.

Insider Activity

In related news, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the transaction, the chief operating officer now owns 87,663 shares of the company's stock, valued at $4,205,194.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Joel D. Keaton sold 43,478 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the sale, the chief operating officer now owns 87,663 shares in the company, valued at $4,205,194.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher P. Marr sold 37,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $48.45, for a total value of $1,792,650.00. Following the completion of the transaction, the chief executive officer now 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 have sold 88,217 shares of company stock worth $4,244,344. Corporate insiders own 1.68% of the company's stock.

Analysts Set New Price Targets

CUBE has been the subject of several analyst reports. UBS Group cut shares of CubeSmart from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Wells Fargo & Company increased their price target on CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday. Jefferies Financial Group lifted their price objective on CubeSmart from $53.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Truist Financial increased their target price on CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $50.67.

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.