KeyCorp Forecasts CubeSmart Q2 2024 Earnings
December 8, 2023
🌥️Trending News
CUBESMART ($NYSE:CUBE): KeyCorp recently released their forecast of CubeSmart’s Q2 2024 earnings. CubeSmart is a publicly traded self-storage real estate investment trust (REIT) headquartered in Malvern, Pennsylvania. With its nationwide presence and innovative portfolio of services, CubeSmart has become one of the leading players in the self-storage industry. KeyCorp’s forecast of CubeSmart’s Q2 2024 earnings provides investors with an insight into the company’s expected performance over the coming period. The forecast is based on data from a range of sources, including CubeSmart’s historical financial statements and industry trend analysis.
KeyCorp expects CubeSmart to report strong earnings growth in Q2 2024, driven by increased demand for its services and strategic investments in operations and technology. As CubeSmart continues to expand its presence in the self-storage industry, investors can gain a better understanding of the company’s progress by tracking its forecasts for Q2 2024 earnings. KeyCorp’s forecast is an important indicator of CubeSmart’s future performance and provides investors with valuable information when making investment decisions.
Share Price
KeyCorp on Tuesday forecasted CubeSmart’s Q2 2024 earnings, which saw the stock open at $41.6 and close at $41.8, a 0.1% increase from its previous closing price. This slight increase in stock price suggests that investors have a positive outlook for the company’s future performance. As the company continues to develop and expand its portfolio of products and services, the market is likely to remain bullish on CubeSmart’s prospects. Analysts will be closely monitoring CubeSmart’s performance in the coming months to get a better picture of how its financial outlook may progress. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cubesmart. More…
| Total Revenues | Net Income | Net Margin |
| 1.05k | 379.95 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cubesmart. More…
| Operations | Investing | Financing |
| 610.11 | -72.37 | -536.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cubesmart. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.23k | 3.36k | 12.48 |
Key Ratios Snapshot
Some of the financial key ratios for Cubesmart are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 45.3% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has completed an extensive analysis of CUBESMART’s fundamental characteristics. Our assessment indicates that the company is classified as a ‘cow’, which is a type of company that has a track record of paying out consistent and sustainable dividends. This makes it an attractive investment for investors who are looking for a stable dividend yield. In addition to its strong dividend yield, CUBESMART also scores well in terms of asset, dividend growth, profitability, and cash flows. Its total health score is 8/10, indicating that the company is well-positioned to sustain its operations in the event of any unforeseen crisis. These metrics make CUBESMART an attractive investment for any investor looking for long term stability. More…
Peers
CubeSmart is in the business of self-storage. Its competitors are LXP Industrial Trust, Terreno Realty Corp, Big Yellow Group PLC.
– LXP Industrial Trust ($NYSE:LXP)
LXP Industrial Trust is a publicly traded real estate investment trust that owns and operates a portfolio of light industrial properties in the United States. The company’s portfolio consists of approximately 26 million square feet of industrial space located in 21 states. LXP Industrial Trust is headquartered in Dallas, Texas.
– Terreno Realty Corp ($NYSE:TRNO)
Terreno Realty Corp is a real estate investment trust that primarily acquires, owns, and operates industrial properties in key logistics markets in the United States. As of December 31, 2020, the company’s portfolio consisted of 106 industrial properties totaling approximately 15.4 million square feet of leasable space.
– Big Yellow Group PLC ($LSE:BYG)
Big Yellow Group PLC is a United Kingdom-based self-storage company. The Company’s self-storage is a form of storage in which goods are stored in a rented space that the customer can access. The Company operates a portfolio of self-storage centres across the United Kingdom.
Summary
CubeSmart (CUBE) is a leading national owner and operator of self-storage facilities in the United States. KeyCorp recently issued an earnings forecast for CubeSmart for the second quarter of 2024. Analysts are forecasting strong top-line growth for the quarter, driven by improvements in occupancy and rental rates. Furthermore, CubeSmart is expected to benefit from robust demand for self-storage services and the ongoing shift towards digital storage solutions.
The company has also been making investments to upgrade its existing portfolio, which should help boost customer experience and drive higher margins. With a healthy balance sheet and solid cash flow generation, CubeSmart remains well positioned for future growth. Overall, investors should keep an eye out for the company’s Q2 2024 earnings results for further insights into the company’s performance.
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