Brokerages expect that CubeSmart (NYSE:CUBE) will announce sales of $165.69 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for CubeSmart’s earnings. The lowest sales estimate is $162.58 million and the highest is $167.39 million. CubeSmart reported sales of $166.55 million in the same quarter last year, which indicates a negative year over year growth rate of 0.5%. The business is expected to announce its next earnings results on Thursday, October 22nd.
According to Zacks, analysts expect that CubeSmart will report full-year sales of $658.26 million for the current financial year, with estimates ranging from $649.06 million to $664.22 million. For the next financial year, analysts expect that the firm will report sales of $670.19 million, with estimates ranging from $642.81 million to $680.50 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for CubeSmart.
CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.19). The company had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $162.55 million. CubeSmart had a return on equity of 8.94% and a net margin of 24.34%. CubeSmart’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS.
A number of analysts have weighed in on CUBE shares. BMO Capital Markets assumed coverage on CubeSmart in a research note on Tuesday, July 21st. They issued a “sell” rating and a $30.00 target price on the stock. Evercore ISI raised shares of CubeSmart from an “in-line” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Monday, August 10th. BofA Securities raised shares of CubeSmart from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $29.00 to $32.00 in a research report on Wednesday, August 12th. Zacks Investment Research upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Raymond James upped their target price on shares of CubeSmart from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. CubeSmart has an average rating of “Hold” and an average target price of $29.91.
Shares of CubeSmart stock opened at $32.78 on Thursday. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 12.49 and a beta of 0.31. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a 50 day moving average price of $30.99 and a 200-day moving average price of $27.99. CubeSmart has a one year low of $19.61 and a one year high of $36.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.03%. CubeSmart’s payout ratio is currently 78.11%.
In other news, Director Marianne M. Keler sold 10,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $31.45, for a total value of $314,500.00. Following the sale, the director now owns 47,292 shares in the company, valued at $1,487,333.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.11% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CUBE. Tower Research Capital LLC TRC grew its position in CubeSmart by 3,943.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,213 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,183 shares during the period. CWM Advisors LLC acquired a new stake in CubeSmart during the first quarter valued at $46,000. Van ECK Associates Corp grew its position in CubeSmart by 108.7% during the first quarter. Van ECK Associates Corp now owns 2,362 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,230 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in CubeSmart by 34.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,050 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 780 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new stake in CubeSmart during the second quarter valued at $120,000. Institutional investors own 98.44% of the company’s stock.
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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