CubeSmart: Why Its Best Days Could Be Over [Seeking Alpha]
Public Storage (PSA)
Last public storage earnings: 4/30 04:00 pm
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Source: Seeking Alpha
This lead to the industry being stagnant and not delivering many profits. Financially, CubeSmart is stable; however, there is not much growth predicted in the near future. I present my analysis which leads me to a hold rating. Dear readers, Today I want to cover a self-storage REIT CubeSmart ( NYSE: CUBE I last wrote about the company in March 2023 using their Q4 2022 results and issued a hold rating because I thought it was overvalued based on a relative multiple, which was almost the same as the historical average, and an implied cap rate of only 5.4%. Today I will assess the latest Q4 2023 results and see how the company has been performing. The price has dropped by about 3% since my last article, which supports my argument that the boom we saw for self-storage is over and CUBE will be stagnant or underperform going forward. While the company has tried to diversify its portfolio and add properties in the suburbs, I am not sure that this will be enough to make a significa
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News
- Public Storage (NYSE:PSA) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Opinion: I once lived in my car and can't fathom criminalizing homelessness [Los Angeles Times (CA)]Los Angeles Times
- Public Storage (PSA) Q1 FFO Misses Estimates, Occupancy Falls [Yahoo! Finance]Yahoo! Finance
- Public Storage (PSA) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
- Public Storage misses FFO estimates as occupancy falls [Yahoo! Finance]Yahoo! Finance
PSA
Earnings
- 4/30/24 - Beat
PSA
Sec Filings
- 5/2/24 - Form 4
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- PSA's page on the SEC website