CubeSmart (CUBE) Projected to Post Quarterly Earnings on Thursday

CubeSmart (NYSE:CUBE) is anticipated to post its quarterly earnings results after the market closes on Thursday, February 27th. Analysts expect CubeSmart to post earnings of $0.45 per share and revenue of $267.54 million for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

CubeSmart Price Performance

NYSE CUBE opened at $42.16 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 11.58 and a beta of 0.87. The company has a 50 day simple moving average of $41.93 and a 200-day simple moving average of $47.19. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14.

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.93%. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is currently 117.51%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CUBE. Barclays lowered their target price on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Royal Bank of Canada reduced their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and reduced their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.18.

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, 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.