CubeSmart (CUBE) to Release Earnings on Thursday

CubeSmart (NYSE:CUBE – Get Rating) will be announcing its earnings results after the market closes on Thursday, April 28th. Analysts expect the company to announce earnings of $0.57 per share for the quarter.

CubeSmart (NYSE:CUBE – Get Rating) last issued its earnings results on Thursday, February 24th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.35). CubeSmart had a return on equity of 12.20% and a net margin of 28.82%. The firm had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $224.28 million. During the same period in the prior year, the company earned $0.47 EPS. The firm’s quarterly revenue was up 15.8% 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.

Shares of CUBE stock opened at $54.46 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.07 and a current ratio of 0.07. CubeSmart has a fifty-two week low of $40.69 and a fifty-two week high of $57.34. The stock has a 50 day moving average price of $50.86 and a two-hundred day moving average price of $52.36. The company has a market capitalization of $12.20 billion, a P/E ratio of 49.96, a PEG ratio of 2.87 and a beta of 0.45.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Friday, April 1st were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.16%. CubeSmart’s dividend payout ratio is presently 157.80%.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on CubeSmart from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, April 4th. StockNews.com downgraded CubeSmart from a “hold” rating to a “sell” rating in a report on Wednesday, April 13th. Finally, Zacks Investment Research downgraded CubeSmart from a “buy” rating to a “hold” rating in a research note on Friday, March 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.13.

Institutional investors have recently modified their holdings of the stock. Peapack Gladstone Financial Corp purchased a new stake in shares of CubeSmart during the 4th quarter valued at $208,000. The Manufacturers Life Insurance Company acquired a new stake in CubeSmart during the fourth quarter worth about $213,000. MML Investors Services LLC bought a new position in CubeSmart in the 4th quarter worth about $247,000. Integrated Wealth Concepts LLC bought a new position in CubeSmart in the 4th quarter worth about $319,000. Finally, Comerica Bank bought a new position in shares of CubeSmart in the fourth quarter valued at approximately $359,000. Hedge funds and other institutional investors own 87.82% of the company’s stock.

CubeSmart Company Profile (Get Rating)

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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