CubeSmart (CUBE) Forecasted to Earn Q1 2018 Earnings of $0.39 Per Share

CubeSmart (NYSE:CUBE) – Stock analysts at DA Davidson decreased their Q1 2018 earnings per share estimates for shares of CubeSmart in a research note issued on Friday. DA Davidson analyst B. Oxford now forecasts that the real estate investment trust will earn $0.39 per share for the quarter, down from their prior estimate of $0.40. DA Davidson also issued estimates for CubeSmart’s Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.43 EPS, Q1 2019 earnings at $0.42 EPS and Q4 2019 earnings at $0.46 EPS.

Other research analysts have also issued research reports about the company. Jefferies Group set a $33.00 price target on CubeSmart and gave the stock a “buy” rating in a research report on Tuesday, November 28th. B. Riley set a $32.00 price target on CubeSmart and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Monday, December 18th. FBR & Co reiterated a “buy” rating and issued a $32.00 price target on shares of CubeSmart in a research report on Friday, October 27th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $28.00 price target on shares of CubeSmart in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.82.

CubeSmart (CUBE) opened at $25.89 on Monday. The company has a market capitalization of $4,764.74, a PE ratio of 34.52, a P/E/G ratio of 2.86 and a beta of 0.13. CubeSmart has a 12-month low of $22.83 and a 12-month high of $29.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $143.48 million during the quarter, compared to analyst estimates of $143.18 million. CubeSmart had a return on equity of 8.40% and a net margin of 24.02%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share.

A number of large investors have recently modified their holdings of CUBE. American International Group Inc. bought a new position in CubeSmart in the fourth quarter worth approximately $119,000. The Manufacturers Life Insurance Company raised its stake in CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 370 shares in the last quarter. World Asset Management Inc bought a new position in CubeSmart in the third quarter worth approximately $200,000. Campbell & CO Investment Adviser LLC bought a new position in CubeSmart in the third quarter worth approximately $211,000. Finally, Comerica Bank bought a new position in CubeSmart in the third quarter worth approximately $220,000.

In other news, CEO Christopher P. Marr sold 6,000 shares of CubeSmart stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $29.33, for a total transaction of $175,980.00. Following the completion of the sale, the chief executive officer now owns 410,138 shares of the company’s stock, valued at $12,029,347.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy M. Martin sold 83,409 shares of CubeSmart stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total transaction of $2,445,551.88. Following the sale, the chief financial officer now directly owns 228,948 shares of the company’s stock, valued at approximately $6,712,755.36. The disclosure for this sale can be found here. Insiders have sold 167,425 shares of company stock valued at $4,915,172 in the last ninety days. Insiders own 1.20% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Thursday, March 29th. CubeSmart’s dividend payout ratio is presently 160.00%.

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About CubeSmart

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.

Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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