Stock CUBE CUBESMART
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Financials CubeSmart

Equities

CUBE

US2296631094

Specialized REITs

Market Closed - Nyse
Other stock markets
 04:00:01 2024-04-26 pm EDT 		5-day change 1st Jan Change
40.76 USD -1.50% Intraday chart for CubeSmart -3.07% -12.06%
Apr. 26 Transcript : CubeSmart, Q1 2024 Earnings Call, Apr 26, 2024
Apr. 26 CubeSmart Q1 Adjusted FFO Declines, Revenue Increases -- Shares Rise After Hours MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,093 6,563 12,453 9,039 10,422 9,170 - -
Enterprise Value (EV) 1 7,970 8,990 15,653 12,029 13,339 12,358 12,221 12,615
P/E ratio 35.8 x 39.5 x 52.2 x 31.2 x 25.5 x 23.4 x 22.4 x 21.9 x
Yield 4.1% 3.96% 2.55% 4.42% 4.27% 5.04% 5.25% 5.44%
Capitalization / Revenue 9.46 x 9.66 x 15.1 x 8.95 x 9.92 x 8.65 x 8.27 x 7.77 x
EV / Revenue 12.4 x 13.2 x 19 x 11.9 x 12.7 x 11.7 x 11 x 10.7 x
EV / EBITDA 20.1 x 21.7 x 29.9 x 18.2 x 19.1 x 17.8 x 17.2 x 16.1 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 3.39 x 3.58 x 4.48 x 3.2 x 3.73 x 3.29 x 3.29 x -
Nbr of stocks (in thousands) 193,555 195,266 218,811 224,575 224,861 224,965 - -
Reference price 2 31.48 33.61 56.91 40.25 46.35 40.76 40.76 40.76
Announcement Date 2/20/20 2/25/21 2/24/22 2/23/23 2/29/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 643.9 679.2 822.6 1,010 1,050 1,060 1,109 1,180
EBITDA 1 395.6 414.1 522.7 661.7 698.5 692.9 712.2 781.4
EBIT 1 232.1 257.5 290.6 351.1 497.3 482.1 493.8 533.5
Operating Margin 36.04% 37.92% 35.33% 34.78% 47.34% 45.48% 44.53% 45.22%
Earnings before Tax (EBT) 1 170.8 167.6 230.8 292.5 412.4 385.7 394.3 421.5
Net income 1 169.1 165.6 223.5 291.3 410.8 388.7 405.3 420.6
Net margin 26.26% 24.39% 27.17% 28.85% 39.11% 36.67% 36.54% 35.65%
EPS 2 0.8800 0.8500 1.090 1.290 1.820 1.743 1.817 1.864
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.290 1.330 1.450 1.780 1.980 2.053 2.140 2.217
Announcement Date 2/20/20 2/25/21 2/24/22 2/23/23 2/29/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 212.6 221.9 238.6 248.7 261.4 261 256.5 260.8 267.9 265.1 261.4 264.2 271.1 271.3 269.1
EBITDA 1 136.4 145.6 145.6 161.5 171.3 175.5 170.7 171.7 176.3 179.9 168.7 168.7 173.2 175.7 176.2
EBIT 1 80.53 77.38 63 82.42 91.72 106.1 120.4 121.3 126.3 129.3 118 115.6 121.2 126.1 122.6
Operating Margin 37.89% 34.87% 26.41% 33.15% 35.09% 40.64% 46.93% 46.51% 47.14% 48.77% 45.15% 43.76% 44.72% 46.49% 45.56%
Earnings before Tax (EBT) 1 90.57 46.56 38.27 58.59 113.4 82.17 97.94 98.28 103.1 113.1 94.86 93.9 97.5 101.9 95.69
Net income 1 87.65 45.35 38.16 58.36 112.9 81.86 97.57 97.88 102.6 112.7 94.53 94.58 97.78 100.2 96.8
Net margin 41.23% 20.44% 15.99% 23.47% 43.18% 31.37% 38.03% 37.53% 38.32% 42.5% 36.16% 35.8% 36.07% 36.94% 35.97%
EPS 2 0.4300 0.2100 0.1700 0.2600 0.5000 0.3600 0.4300 0.4300 0.4500 0.5000 0.4200 0.4235 0.4429 0.4540 0.4281
Dividend per Share 2 0.3400 0.4300 0.4300 0.4300 0.4300 0.4900 0.4900 0.4900 0.4900 0.5100 0.5100 0.5100 0.5100 0.5221 0.5174
Announcement Date 11/4/21 2/24/22 4/28/22 8/4/22 10/27/22 2/23/23 4/27/23 8/3/23 11/2/23 2/29/24 4/25/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,877 2,427 3,200 2,990 2,916 3,188 3,051 3,445
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.744 x 5.86 x 6.123 x 4.519 x 4.175 x 4.601 x 4.284 x 4.409 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 9.64% 9.12% 9.5% 10.2% 14.6% 15% 14.9% 16.4%
ROA (Net income/ Total Assets) 4.35% 3.76% 3.95% 4.52% 6.55% 6.26% 6.59% -
Assets 1 3,891 4,404 5,663 6,437 6,275 6,212 6,147 -
Book Value Per Share 2 9.300 9.400 12.70 12.60 12.40 12.40 12.40 -
Cash Flow per Share 2 - - - - 2.700 2.740 2.790 -
Capex 1 - 7.02 28.3 - - 40 40 40
Capex / Sales - 1.03% 3.44% - - 3.77% 3.61% 3.39%
Announcement Date 2/20/20 2/25/21 2/24/22 2/23/23 2/29/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for CubeSmart

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
40.76 USD
Average target price
46.42 USD
Spread / Average Target
+13.88%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Self-Storage REITs
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