CubeSmart (NYSE:CUBE) Releases Q2 Earnings Guidance

CubeSmart (NYSE:CUBEGet Rating) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.59-0.60 for the period, compared to the Thomson Reuters consensus estimate of $0.60. CubeSmart also updated its FY22 guidance to $2.37-2.42 EPS.

CUBE traded down $4.49 on Friday, hitting $47.51. The company’s stock had a trading volume of 4,012,714 shares, compared to its average volume of 1,121,232. The company’s 50 day simple moving average is $51.20 and its 200-day simple moving average is $52.47. The firm has a market cap of $10.64 billion, a P/E ratio of 45.25, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. CubeSmart has a 12 month low of $40.69 and a 12 month high of $57.34. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.09.

CubeSmart (NYSE:CUBEGet Rating) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.40). The business had revenue of $238.57 million during the quarter, compared to the consensus estimate of $240.13 million. CubeSmart had a return on equity of 12.20% and a net margin of 28.82%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. Equities analysts predict that CubeSmart will post 2.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Friday, April 1st were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.62%. The ex-dividend date was Thursday, March 31st. CubeSmart’s payout ratio is 163.81%.

Several research analysts have commented on CUBE shares. JPMorgan Chase & Co. raised their price target on shares of CubeSmart from $57.00 to $58.00 and gave the company a neutral rating in a report on Monday, April 4th. StockNews.com raised shares of CubeSmart from a sell rating to a hold rating in a report on Friday, April 22nd. Finally, Zacks Investment Research downgraded shares of CubeSmart from a buy rating to a hold rating in a report on Friday, March 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $52.13.

A number of large investors have recently modified their holdings of CUBE. Thrivent Financial for Lutherans raised its position in CubeSmart by 25.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 625,988 shares of the real estate investment trust’s stock worth $35,625,000 after purchasing an additional 128,002 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of CubeSmart in the fourth quarter valued at about $2,133,000. Parametric Portfolio Associates LLC increased its position in shares of CubeSmart by 2.7% in the fourth quarter. Parametric Portfolio Associates LLC now owns 344,253 shares of the real estate investment trust’s stock valued at $19,591,000 after acquiring an additional 9,184 shares during the period. Advisors Asset Management Inc. increased its position in shares of CubeSmart by 20.5% in the fourth quarter. Advisors Asset Management Inc. now owns 52,005 shares of the real estate investment trust’s stock valued at $2,960,000 after acquiring an additional 8,849 shares during the period. Finally, Walleye Trading LLC purchased a new position in shares of CubeSmart in the fourth quarter valued at about $499,000. Institutional investors own 87.82% of the company’s stock.

About CubeSmart (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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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