Wall Street analysts predict that CubeSmart (NYSE:CUBE) will report $0.39 earnings per share for the current quarter, Zacks reports. Five analysts have provided estimates for CubeSmart’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.38. CubeSmart reported earnings per share of $0.36 in the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, April 26th.
On average, analysts expect that CubeSmart will report full year earnings of $1.64 per share for the current year, with EPS estimates ranging from $1.62 to $1.65. For the next financial year, analysts forecast that the business will report earnings of $1.71 per share, with EPS estimates ranging from $1.64 to $1.75. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for CubeSmart.
CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $143.48 million for the quarter, compared to analysts’ expectations of $143.18 million. CubeSmart had a net margin of 24.02% and a return on equity of 8.39%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS.
CUBE has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Monday, December 18th. B. Riley set a $32.00 price target on shares of CubeSmart and gave the company a “buy” rating in a research note on Tuesday, January 2nd. SunTrust Banks set a $31.00 price target on shares of CubeSmart and gave the company a “hold” rating in a research note on Monday, January 22nd. Cantor Fitzgerald reissued a “buy” rating and issued a $31.00 price target on shares of CubeSmart in a research note on Thursday, February 15th. Finally, BMO Capital Markets set a $27.00 price target on shares of CubeSmart and gave the company a “hold” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.00.
Shares of NYSE CUBE traded down $0.28 during midday trading on Friday, reaching $28.22. 542,786 shares of the stock were exchanged, compared to its average volume of 1,489,054. The stock has a market capitalization of $5,185.80, a price-to-earnings ratio of 17.83, a PEG ratio of 3.62 and a beta of 0.09. CubeSmart has a twelve month low of $22.83 and a twelve month high of $29.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.06 and a quick ratio of 0.06.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a yield of 4.25%. CubeSmart’s payout ratio is currently 75.47%.
A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in 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 valued at $128,000 after purchasing an additional 370 shares in the last quarter. Amalgamated Bank lifted its holdings in CubeSmart by 5.9% in the 4th quarter. Amalgamated Bank now owns 35,522 shares of the real estate investment trust’s stock valued at $1,027,000 after purchasing an additional 1,972 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in CubeSmart by 17.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,151 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 2,493 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in CubeSmart by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 438,875 shares of the real estate investment trust’s stock valued at $11,410,000 after purchasing an additional 2,494 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CubeSmart by 3.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,013 shares of the real estate investment trust’s stock valued at $2,083,000 after purchasing an additional 2,633 shares in the last quarter.
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CubeSmart Company Profile
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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