Zacks: Analysts Anticipate CubeSmart (CUBE) Will Post Quarterly Sales of $152.07 Million

Equities analysts expect that CubeSmart (NYSE:CUBE) will post $152.07 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for CubeSmart’s earnings. The highest sales estimate is $156.69 million and the lowest is $145.17 million. CubeSmart posted sales of $143.48 million in the same quarter last year, which would indicate a positive year over year growth rate of 6%. The company is expected to issue its next quarterly earnings results on Thursday, February 21st.

On average, analysts expect that CubeSmart will report full-year sales of $589.80 million for the current financial year, with estimates ranging from $573.15 million to $600.75 million. For the next year, analysts expect that the business will post sales of $629.86 million, with estimates ranging from $598.14 million to $660.53 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CubeSmart.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.18). CubeSmart had a net margin of 26.43% and a return on equity of 9.34%. The business had revenue of $153.37 million during the quarter, compared to analysts’ expectations of $150.76 million.

A number of research firms have commented on CUBE. Citigroup boosted their target price on CubeSmart from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 12th. Zacks Investment Research downgraded CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research report on Tuesday, July 17th. Bank of America boosted their target price on CubeSmart from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Finally, Evercore ISI downgraded CubeSmart from an “outperform” rating to an “in-line” rating in a research report on Monday, July 16th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. CubeSmart currently has a consensus rating of “Buy” and a consensus target price of $32.50.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of CubeSmart by 4.1% in the second quarter. BlackRock Inc. now owns 13,629,625 shares of the real estate investment trust’s stock valued at $439,146,000 after acquiring an additional 537,665 shares in the last quarter. Cbre Clarion Securities LLC lifted its position in shares of CubeSmart by 11.5% in the second quarter. Cbre Clarion Securities LLC now owns 8,474,692 shares of the real estate investment trust’s stock valued at $273,055,000 after acquiring an additional 875,279 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CubeSmart by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,807,221 shares of the real estate investment trust’s stock valued at $90,451,000 after acquiring an additional 16,281 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of CubeSmart by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,375,763 shares of the real estate investment trust’s stock valued at $76,548,000 after acquiring an additional 125,017 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of CubeSmart by 4.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,111,655 shares of the real estate investment trust’s stock valued at $60,246,000 after acquiring an additional 84,000 shares in the last quarter.

CUBE opened at $28.96 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.07 and a debt-to-equity ratio of 0.97. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 3.60 and a beta of 0.06. CubeSmart has a one year low of $25.22 and a one year high of $33.18.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 4.14%. CubeSmart’s payout ratio is 75.47%.

About CubeSmart

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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