Wall Street brokerages expect CubeSmart (NYSE:CUBE) to post earnings of $0.41 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CubeSmart’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.41. CubeSmart also reported earnings per share of $0.41 during the same quarter last year. The firm is scheduled to report its next earnings report on Thursday, July 25th.
On average, analysts expect that CubeSmart will report full-year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.64 to $1.67. For the next financial year, analysts forecast that the business will report earnings of $1.73 per share, with EPS estimates ranging from $1.71 to $1.75. Zacks’ EPS calculations are an average based on a survey of analysts that cover CubeSmart.
CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, April 25th. The real estate investment trust reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $152.85 million during the quarter, compared to analysts’ expectations of $154.06 million. CubeSmart had a return on equity of 9.67% and a net margin of 28.02%. CubeSmart’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. ValuEngine upgraded CubeSmart from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, Raymond James upgraded CubeSmart from a “market perform” rating to an “outperform” rating in a report on Thursday, March 21st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.17.
In other news, CFO Timothy M. Martin sold 5,430 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $32.50, for a total value of $176,475.00. Following the completion of the transaction, the chief financial officer now owns 187,666 shares of the company’s stock, valued at approximately $6,099,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher P. Marr sold 46,178 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $32.47, for a total value of $1,499,399.66. Following the completion of the transaction, the chief executive officer now directly owns 449,164 shares of the company’s stock, valued at approximately $14,584,355.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,566 shares of company stock valued at $1,869,808. Company insiders own 1.04% of the company’s stock.
Several large investors have recently made changes to their positions in CUBE. Vanguard Group Inc lifted its holdings in CubeSmart by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 28,282,874 shares of the real estate investment trust’s stock worth $806,910,000 after buying an additional 603,875 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in CubeSmart in the 4th quarter worth approximately $119,000. Rhumbline Advisers lifted its holdings in CubeSmart by 2.3% in the 4th quarter. Rhumbline Advisers now owns 236,538 shares of the real estate investment trust’s stock worth $6,786,000 after buying an additional 5,220 shares during the period. BB&T Securities LLC purchased a new stake in CubeSmart in the 4th quarter worth approximately $226,000. Finally, WINTON GROUP Ltd lifted its holdings in CubeSmart by 166.8% in the 4th quarter. WINTON GROUP Ltd now owns 75,398 shares of the real estate investment trust’s stock worth $2,163,000 after buying an additional 47,140 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.
CUBE stock traded down $0.52 during trading on Tuesday, hitting $33.60. 1,880,800 shares of the company traded hands, compared to its average volume of 1,357,826. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 5.96 and a beta of 0.21. CubeSmart has a 1 year low of $27.19 and a 1 year high of $34.53. The stock has a 50-day moving average of $33.51. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.04 and a quick ratio of 0.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, June 28th. CubeSmart’s dividend payout ratio (DPR) is currently 78.05%.
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 secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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