Wall Street analysts forecast that CubeSmart (NYSE:CUBE) will announce sales of $142.90 million for the current quarter, according to Zacks. Six analysts have provided estimates for CubeSmart’s earnings, with estimates ranging from $137.99 million to $146.17 million. CubeSmart posted sales of $132.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The firm is scheduled to issue its next quarterly earnings results on Thursday, February 15th.
On average, analysts expect that CubeSmart will report full-year sales of $142.90 million for the current fiscal year, with estimates ranging from $543.07 million to $561.63 million. For the next financial year, analysts expect that the firm will post sales of $591.23 million per share, with estimates ranging from $565.75 million to $618.69 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow CubeSmart.
CUBE has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of CubeSmart in a report on Friday, August 25th. UBS cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Raymond James Financial cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. BidaskClub upgraded shares of CubeSmart from a “strong sell” rating to a “sell” rating in a report on Thursday, September 7th. Finally, BMO Capital Markets restated a “market perform” rating and set a $27.00 target price on shares of CubeSmart in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.00.
In other news, CFO Timothy M. Martin sold 57,746 shares of CubeSmart stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $29.41, for a total value of $1,698,309.86. Following the completion of the transaction, the chief financial officer now owns 211,694 shares of the company’s stock, valued at approximately $6,225,920.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jonathan L. Perry sold 20,270 shares of CubeSmart stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $29.37, for a total value of $595,329.90. Following the completion of the transaction, the senior vice president now directly owns 67,197 shares of the company’s stock, valued at approximately $1,973,575.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,425 shares of company stock worth $4,915,172. Company insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in CubeSmart by 1.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 283,639 shares of the real estate investment trust’s stock worth $7,363,000 after buying an additional 3,302 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in CubeSmart in the 3rd quarter worth about $450,000. Dean Investment Associates LLC raised its position in CubeSmart by 59.7% in the 3rd quarter. Dean Investment Associates LLC now owns 42,230 shares of the real estate investment trust’s stock worth $1,096,000 after buying an additional 15,782 shares during the last quarter. Eii Capital Management Inc. purchased a new position in CubeSmart in the 3rd quarter worth about $1,057,000. Finally, California Public Employees Retirement System raised its position in CubeSmart by 5.2% in the 3rd quarter. California Public Employees Retirement System now owns 320,778 shares of the real estate investment trust’s stock worth $8,327,000 after buying an additional 15,866 shares during the last quarter.
Shares of CubeSmart (NYSE:CUBE) opened at $28.34 on Friday. The firm has a market cap of $5,165.97, a price-to-earnings ratio of 18.43, a P/E/G ratio of 3.70 and a beta of 0.22. CubeSmart has a fifty-two week low of $22.83 and a fifty-two week high of $29.79. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, December 29th. This is a boost from CubeSmart’s previous quarterly dividend of $0.27. CubeSmart’s payout ratio is 163.64%.
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CubeSmart Company Profile
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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