CubeSmart (CUBE) Set to Announce Quarterly Earnings on Thursday

Thursday, July 22, 2021 | MarketBeat

CubeSmart (NYSE:CUBE) will issue its quarterly earnings data after the market closes on Thursday, July 29th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.24). CubeSmart had a net margin of 24.07% and a return on equity of 9.39%. On average, analysts expect CubeSmart to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CubeSmart stock opened at $47.58 on Thursday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 54.69, a price-to-earnings-growth ratio of 5.01 and a beta of 0.25. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a fifty-two week low of $27.13 and a fifty-two week high of $49.00. The stock's fifty day moving average price is $45.78.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Wednesday, June 30th. CubeSmart's dividend payout ratio is 79.07%.

CUBE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of CubeSmart from $39.00 to $48.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 30th. Zacks Investment Research raised shares of CubeSmart from a "hold" rating to a "buy" rating and set a $53.00 target price for the company in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of CubeSmart from $34.00 to $36.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 2nd. BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $45.00 to $47.00 in a research report on Friday, May 14th. Finally, Citigroup boosted their target price on shares of CubeSmart from $44.50 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, July 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of "Hold" and a consensus target price of $41.91.

In related news, CEO Christopher P. Marr sold 6,769 shares of the company's stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $42.37, for a total value of $286,802.53. Following the sale, the chief executive officer now owns 472,083 shares of the company's stock, valued at $20,002,156.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joel D. Keaton sold 15,132 shares of the company's stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $41.50, for a total transaction of $627,978.00. Following the completion of the sale, the chief operating officer now directly owns 58,294 shares in the company, valued at approximately $2,419,201. The disclosure for this sale can be found here. Insiders have sold 45,265 shares of company stock valued at $1,893,265 in the last ninety days. 1.28% of the stock is owned by company insiders.

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 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 for CubeSmart (NYSE:CUBE)

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