CubeSmart (CUBE) Set to Announce Quarterly Earnings on Thursday

CubeSmart (NYSE:CUBE) is set to release its earnings data after the market closes on Thursday, April 25th. Analysts expect CubeSmart to post earnings of $0.64 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $42.21 on Thursday. The firm has a market cap of $9.50 billion, a P/E ratio of 23.32 and a beta of 0.69. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. CubeSmart has a 12-month low of $33.17 and a 12-month high of $47.81. The business has a fifty day simple moving average of $43.97 and a 200 day simple moving average of $42.10.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s dividend payout ratio is currently 112.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CUBE. Jefferies Financial Group raised CubeSmart from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $53.00 in a research report on Tuesday, January 2nd. Truist Financial raised their target price on CubeSmart from $43.00 to $46.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Barclays began coverage on CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 target price for the company. Evercore ISI increased their price target on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, March 4th. Finally, Wells Fargo & Company boosted their price objective on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.33.

Institutional Trading of CubeSmart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in CubeSmart by 0.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 418,030 shares of the real estate investment trust’s stock valued at $19,376,000 after buying an additional 2,931 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in CubeSmart by 16.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,205 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 723 shares in the last quarter. Legal & General Group Plc increased its holdings in CubeSmart by 5.6% during the 4th quarter. Legal & General Group Plc now owns 1,785,347 shares of the real estate investment trust’s stock worth $82,751,000 after purchasing an additional 94,455 shares in the last quarter. Barclays PLC increased its holdings in CubeSmart by 79.0% during the 4th quarter. Barclays PLC now owns 254,481 shares of the real estate investment trust’s stock worth $11,793,000 after purchasing an additional 112,290 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in CubeSmart by 29.7% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 94,663 shares of the real estate investment trust’s stock worth $4,388,000 after purchasing an additional 21,700 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

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.