Jefferies Financial Group Weighs in on CubeSmart’s FY2020 Earnings (NYSE:CUBE)

CubeSmart (NYSE:CUBE) – Investment analysts at Jefferies Financial Group boosted their FY2020 earnings per share estimates for shares of CubeSmart in a research note issued on Wednesday, April 10th, Zacks Investment Research reports. Jefferies Financial Group analyst O. Okusanya now expects that the real estate investment trust will post earnings of $1.72 per share for the year, up from their previous forecast of $1.71.

Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets reiterated a “hold” rating and set a $30.00 price target on shares of CubeSmart in a report on Sunday, February 24th. ValuEngine downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Finally, Raymond James upgraded shares of CubeSmart from a “market perform” rating to an “outperform” rating in a report on Thursday, March 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CubeSmart has an average rating of “Hold” and an average target price of $32.03.

Shares of NYSE CUBE traded up $0.19 during mid-day trading on Friday, hitting $32.47. 1,155,021 shares of the company’s stock traded hands, compared to its average volume of 1,415,300. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 5.73 and a beta of 0.28. CubeSmart has a 1 year low of $27.19 and a 1 year high of $33.18.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, April 25th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $152.85 million for the quarter, compared to analysts’ expectations of $154.06 million. CubeSmart had a net margin of 28.02% and a return on equity of 9.67%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS.

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.32 per share. The ex-dividend date was Friday, March 29th. This represents a $1.28 annualized dividend and a yield of 3.94%. CubeSmart’s payout ratio is 78.05%.

In other CubeSmart news, CEO Christopher P. Marr sold 60,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $31.51, for a total value of $1,890,600.00. Following the transaction, the chief executive officer now directly owns 444,877 shares in the company, valued at approximately $14,018,074.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy M. Martin sold 60,207 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.51, for a total transaction of $1,897,122.57. Following the completion of the transaction, the chief financial officer now owns 242,443 shares in the company, valued at $7,639,378.93. The disclosure for this sale can be found here. Insiders have sold a total of 177,773 shares of company stock worth $5,657,530 over the last quarter. 1.04% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of CUBE. Whittier Trust Co. bought a new position in shares of CubeSmart during the fourth quarter valued at approximately $29,000. We Are One Seven LLC bought a new position in shares of CubeSmart during the fourth quarter valued at approximately $50,000. Quadrant Capital Group LLC boosted its stake in shares of CubeSmart by 1,473.8% during the first quarter. Quadrant Capital Group LLC now owns 2,880 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 2,697 shares in the last quarter. Enlightenment Research LLC bought a new position in shares of CubeSmart during the fourth quarter valued at approximately $106,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in CubeSmart during the fourth quarter valued at approximately $119,000.

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 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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