Brokerages Anticipate CubeSmart (CUBE) to Announce $0.40 Earnings Per Share

Analysts expect CubeSmart (NYSE:CUBE) to post $0.40 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for CubeSmart’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.41. CubeSmart posted earnings of $0.39 per share during the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The business is scheduled to report its next earnings results after the market closes on Thursday, April 25th.

According to Zacks, analysts expect that CubeSmart will report full year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.64 to $1.68. For the next financial year, analysts anticipate that the business will report earnings of $1.73 per share, with EPS estimates ranging from $1.70 to $1.76. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow CubeSmart.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 21st. The real estate investment trust reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $134.74 million during the quarter, compared to analysts’ expectations of $154.27 million. CubeSmart had a net margin of 28.32% and a return on equity of 9.74%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS.

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

In other CubeSmart news, CEO Christopher P. Marr sold 60,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 444,877 shares of the company’s stock, valued at approximately $14,018,074.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy M. Martin sold 60,207 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $31.51, for a total transaction of $1,897,122.57. Following the completion of the sale, the chief financial officer now directly owns 242,443 shares in the company, valued at approximately $7,639,378.93. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Whittier Trust Co. bought a new stake in shares of CubeSmart in the 4th quarter worth about $29,000. We Are One Seven LLC bought a new stake in shares of CubeSmart in the 4th quarter worth about $50,000. Enlightenment Research LLC bought a new stake in shares of CubeSmart in the 4th quarter worth about $106,000. Oppenheimer Asset Management Inc. bought a new stake in shares of CubeSmart in the 4th quarter worth about $119,000. Finally, NumerixS Investment Technologies Inc grew its holdings in shares of CubeSmart by 80.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 5,040 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 2,240 shares during the last quarter.

NYSE:CUBE traded down $0.11 during trading hours on Wednesday, hitting $30.99. 63,862 shares of the company traded hands, compared to its average volume of 1,305,141. The stock has a market cap of $5.97 billion, a P/E ratio of 18.90, a PEG ratio of 5.72 and a beta of 0.29. CubeSmart has a twelve month low of $27.19 and a twelve month high of $33.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.04 and a quick ratio of 0.04.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.13%. The ex-dividend date was Friday, March 29th. CubeSmart’s dividend payout ratio (DPR) 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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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