Equities analysts predict that CubeSmart (NYSE:CUBE) will announce $141.20 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for CubeSmart’s earnings. The highest sales estimate is $144.03 million and the lowest is $135.72 million. CubeSmart reported sales of $132.55 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The company is expected to issue its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that CubeSmart will report full-year sales of $141.20 million for the current financial year, with estimates ranging from $538.68 million to $557.20 million. For the next financial year, analysts expect that the firm will report sales of $588.00 million per share, with estimates ranging from $559.96 million to $611.11 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover CubeSmart.
CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The business had revenue of $138.60 million during the quarter, compared to analysts’ expectations of $138.07 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year.
Several equities research analysts have issued reports on CUBE shares. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub raised CubeSmart from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Evercore ISI reaffirmed an “outperform” rating and set a $28.00 price target (up previously from $27.00) on shares of CubeSmart in a research note on Thursday, September 14th. KeyCorp reaffirmed a “hold” rating on shares of CubeSmart in a research note on Friday, August 25th. Finally, UBS AG lowered CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.67.
Shares of CubeSmart (NYSE CUBE) traded up 2.734% during trading on Friday, reaching $26.495. The company’s stock had a trading volume of 2,102,312 shares. The stock’s 50-day moving average is $26.11 and its 200-day moving average is $25.13. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.06. The stock has a market cap of $4.77 billion, a P/E ratio of 45.760 and a beta of 0.19.
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A number of large investors have recently made changes to their positions in CUBE. Neuberger Berman Group LLC purchased a new position in CubeSmart during the 1st quarter valued at about $222,000. Teachers Advisors LLC increased its holdings in CubeSmart by 9.5% during the 1st quarter. Teachers Advisors LLC now owns 241,560 shares of the real estate investment trust’s stock valued at $6,271,000 after purchasing an additional 20,946 shares during the period. PNC Financial Services Group Inc. increased its holdings in CubeSmart by 31.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,306 shares during the period. Geode Capital Management LLC increased its holdings in CubeSmart by 7.9% during the 1st quarter. Geode Capital Management LLC now owns 1,617,224 shares of the real estate investment trust’s stock valued at $41,983,000 after purchasing an additional 118,598 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in CubeSmart by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,413,403 shares of the real estate investment trust’s stock valued at $62,650,000 after purchasing an additional 23,398 shares during the period.
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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