CubeSmart (CUBE) Updates Q2 Earnings Guidance

CubeSmart (NYSE:CUBE) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.41-0.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.41. CubeSmart also updated its FY19 guidance to $1.65-1.69 EPS.

CubeSmart stock traded down $0.04 on Thursday, reaching $31.45. 1,752,100 shares of the stock were exchanged, compared to its average volume of 1,398,340. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 5.58 and a beta of 0.29. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a twelve month low of $27.19 and a twelve month high of $33.18.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, April 25th. The real estate investment trust reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $152.85 million during the quarter, compared to analyst estimates of $154.06 million. CubeSmart had a net margin of 28.32% and a return on equity of 9.74%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts expect that CubeSmart will post 1.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Friday, March 29th. CubeSmart’s dividend payout ratio is 78.05%.

CUBE has been the subject of a number of research analyst reports. Raymond James raised shares of CubeSmart from a market perform rating to an outperform rating in a research report on Thursday, March 21st. BMO Capital Markets lowered shares of CubeSmart from an outperform rating to a market perform rating in a research report on Wednesday, January 9th. Zacks Investment Research lowered shares of CubeSmart from a hold rating to a sell rating in a research report on Thursday, April 4th. Finally, ValuEngine lowered shares of CubeSmart from a buy rating to a hold rating in a research report on Friday, February 22nd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $32.03.

In other news, CFO Timothy M. Martin sold 60,207 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.51, for a total transaction of $1,897,122.57. Following the completion of the transaction, the chief financial officer now owns 242,443 shares of the company’s stock, valued at $7,639,378.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher P. Marr sold 60,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $31.51, for a total transaction of $1,890,600.00. Following the transaction, the chief executive officer now directly owns 444,877 shares of the company’s stock, valued at approximately $14,018,074.27. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

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CubeSmart Company Profile

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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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