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%.
COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/21/cubesmart-cube-forecasted-to-earn-q1-2018-earnings-of-0-39-per-share.html.
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.
Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.