CubeSmart (NYSE:CUBE) Posts Quarterly Earnings Results, Misses Expectations By $0.23 EPS

CubeSmart (NYSE:CUBE) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23), Zacks reports. The company had revenue of $293.97 million for the quarter, compared to the consensus estimate of $287.28 million. CubeSmart had a return on equity of 12.35% and a net margin of 29.41%. CubeSmart’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share.

CubeSmart Price Performance

Shares of CubeSmart stock opened at $44.22 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07. The business’s 50 day simple moving average is $39.22 and its two-hundred day simple moving average is $39.61. The stock has a market capitalization of $9.96 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 6.82 and a beta of 1.05. CubeSmart has a one year low of $35.09 and a one year high of $44.54.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CUBE. Evercore set a $46.00 price objective on shares of CubeSmart in a research report on Monday, September 21st. Raymond James Financial started coverage on shares of CubeSmart in a report on Wednesday, July 15th. They set an “outperform” rating and a $44.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research note on Tuesday, October 13th. Truist Financial began coverage on shares of CubeSmart in a report on Friday, October 2nd. They issued a “buy” rating and a $41.00 price target for the company. Finally, Barclays upgraded shares of CubeSmart from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $46.00 in a research report on Friday, July 10th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.73.

About CubeSmart

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.