CubeSmart (NYSE:CUBE) – Research analysts at KeyCorp issued their Q3 2019 earnings per share estimates for CubeSmart in a research report issued on Monday, July 29th. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will post earnings of $0.43 per share for the quarter. KeyCorp also issued estimates for CubeSmart’s Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.67 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.44 EPS and Q4 2020 earnings at $0.44 EPS.
Other analysts have also recently issued research reports about the company. ValuEngine cut CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America cut CubeSmart from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.54.
Shares of NYSE CUBE opened at $34.82 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.09 and a quick ratio of 0.04. The company has a market cap of $6.64 billion, a PE ratio of 21.23, a PEG ratio of 6.15 and a beta of 0.19. The firm’s fifty day moving average is $34.04. CubeSmart has a 12-month low of $27.19 and a 12-month high of $35.23.
CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.15). The company had revenue of $159.00 million for the quarter, compared to the consensus estimate of $158.86 million. CubeSmart had a net margin of 29.33% and a return on equity of 10.19%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC bought a new stake in shares of CubeSmart in the fourth quarter valued at about $230,000. Raymond James & Associates lifted its position in CubeSmart by 3.4% during the fourth quarter. Raymond James & Associates now owns 15,505 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 511 shares during the period. Dimensional Fund Advisors LP lifted its position in CubeSmart by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,873,665 shares of the real estate investment trust’s stock worth $82,448,000 after purchasing an additional 56,689 shares during the period. Jane Street Group LLC bought a new stake in CubeSmart during the fourth quarter worth about $571,000. Finally, APG Asset Management N.V. lifted its position in CubeSmart by 215.7% during the fourth quarter. APG Asset Management N.V. now owns 96,600 shares of the real estate investment trust’s stock worth $2,424,000 after purchasing an additional 66,000 shares during the period. Hedge funds and other institutional investors own 98.85% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.68%. CubeSmart’s dividend payout ratio is presently 78.05%.
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 2019 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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