Equities analysts expect CubeSmart (NYSE:CUBE) to report sales of $152.07 million for the current quarter, Zacks reports. Five analysts have made estimates for CubeSmart’s earnings, with the highest sales estimate coming in at $156.69 million and the lowest estimate coming in at $145.17 million. CubeSmart posted sales of $143.48 million in the same quarter last year, which suggests a positive year over year growth rate of 6%. The company is expected to issue its next earnings report on Thursday, February 21st.
On average, analysts expect that CubeSmart will report full-year sales of $589.80 million for the current year, with estimates ranging from $573.15 million to $600.75 million. For the next financial year, analysts anticipate that the business will post sales of $629.86 million, with estimates ranging from $598.14 million to $660.53 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for CubeSmart.
CubeSmart (NYSE:CUBE) last announced 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 company had revenue of $153.37 million during the quarter, compared to the consensus estimate of $150.76 million.
A number of brokerages have recently commented on CUBE. SunTrust Banks set a $32.00 price objective on shares of CubeSmart and gave the stock a “hold” rating in a research report on Tuesday, August 7th. ValuEngine lowered shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Evercore ISI lowered shares of CubeSmart from an “outperform” rating to an “in-line” rating in a research report on Monday, July 16th. Zacks Investment Research raised shares of CubeSmart from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Citigroup boosted their price objective on shares of CubeSmart from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 12th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.50.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sun Life Financial INC acquired a new position in CubeSmart during the second quarter worth $118,000. Contravisory Investment Management Inc. acquired a new position in CubeSmart during the third quarter worth $125,000. Centaurus Financial Inc. acquired a new position in CubeSmart during the second quarter worth $154,000. PNC Financial Services Group Inc. increased its holdings in CubeSmart by 198.0% during the second quarter. PNC Financial Services Group Inc. now owns 5,548 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 3,686 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in CubeSmart during the second quarter worth $208,000.
Shares of CUBE stock traded up $0.74 during trading on Friday, reaching $28.78. The company’s stock had a trading volume of 310,003 shares, compared to its average volume of 1,539,675. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.97. The firm has a market cap of $5.22 billion, a PE ratio of 18.10, a P/E/G ratio of 3.44 and a beta of 0.04. 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. Investors of record on Monday, October 1st were issued 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 4.17%. CubeSmart’s payout ratio is 75.47%.
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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