CubeSmart (NYSE:CUBE) – Cantor Fitzgerald reduced their FY2018 earnings per share estimates for shares of CubeSmart in a report released on Sunday. Cantor Fitzgerald analyst G. Mehta now anticipates that the real estate investment trust will earn $1.63 per share for the year, down from their previous estimate of $1.64. Cantor Fitzgerald currently has a “Buy” rating and a $31.00 target price on the stock.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $143.48 million during the quarter, compared to the consensus estimate of $143.18 million. CubeSmart had a net margin of 24.02% and a return on equity of 8.39%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share.
Other equities research analysts also recently issued research reports about the stock. B. Riley set a $32.00 price target on shares of CubeSmart and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised shares of CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, December 18th. Jefferies Group set a $32.00 target price on shares of CubeSmart and gave the stock a “buy” rating in a research report on Monday, March 5th. BMO Capital Markets set a $27.00 target price on shares of CubeSmart and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, SunTrust Banks set a $31.00 target price on shares of CubeSmart and gave the stock a “hold” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. CubeSmart presently has a consensus rating of “Hold” and an average target price of $30.00.
Shares of CubeSmart (NYSE:CUBE) traded down $0.16 on Wednesday, hitting $27.72. 76,225 shares of the company traded hands, compared to its average volume of 1,552,431. The company has a market capitalization of $5,000.00, a P/E ratio of 37.35, a P/E/G ratio of 3.57 and a beta of 0.17. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.00. CubeSmart has a 12 month low of $22.83 and a 12 month high of $29.79.
Several institutional investors have recently modified their holdings of CUBE. American International Group Inc. purchased a new position in shares of CubeSmart during the 4th quarter worth $119,000. The Manufacturers Life Insurance Company boosted its position in shares of CubeSmart by 7.4% in the 2nd 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. Campbell & CO Investment Adviser LLC purchased a new stake in shares of CubeSmart in the 3rd quarter worth about $211,000. Comerica Bank purchased a new position in CubeSmart in the 3rd quarter valued at about $220,000. Finally, Shelton Capital Management purchased a new position in CubeSmart in the 4th quarter valued at about $249,000.
In other news, CFO Timothy M. Martin sold 57,746 shares of CubeSmart stock in a transaction on Friday, December 15th. The shares were sold at an average price of $29.41, for a total transaction of $1,698,309.86. Following the transaction, the chief financial officer now owns 211,694 shares in the company, valued at approximately $6,225,920.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher P. Marr sold 6,000 shares of CubeSmart stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.33, for a total transaction of $175,980.00. Following the transaction, the chief executive officer now owns 410,138 shares in the company, valued at approximately $12,029,347.54. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Thursday, March 29th. CubeSmart’s dividend payout ratio (DPR) is presently 162.16%.
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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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