CubeSmart (NYSE:CUBE) – Investment analysts at Jefferies Financial Group raised their FY2019 earnings estimates for shares of CubeSmart in a report released on Monday, July 29th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will earn $1.67 per share for the year, up from their prior forecast of $1.65. Jefferies Financial Group also issued estimates for CubeSmart’s Q2 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.44 EPS, FY2020 earnings at $1.74 EPS, Q2 2021 earnings at $0.47 EPS and FY2021 earnings at $1.83 EPS.
CUBE has been the topic of several other research reports. ValuEngine raised shares of CubeSmart from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Bank of America lowered shares of CubeSmart from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research raised shares of CubeSmart from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CubeSmart has a consensus rating of “Buy” and an average target price of $31.54.
Shares of CUBE stock opened at $33.95 on Wednesday. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 6.05 and a beta of 0.20. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.05. CubeSmart has a 52 week low of $27.19 and a 52 week high of $35.23. The stock has a 50-day moving average of $34.01.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.15). The company had revenue of $159.00 million during the quarter, compared to the consensus estimate of $158.86 million. CubeSmart had a return on equity of 10.30% and a net margin of 29.33%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of CUBE. FMR LLC raised its position in shares of CubeSmart by 1,578.5% in the first quarter. FMR LLC now owns 10,155,446 shares of the real estate investment trust’s stock valued at $325,381,000 after purchasing an additional 9,550,430 shares during the period. PGGM Investments raised its position in shares of CubeSmart by 165.5% in the first quarter. PGGM Investments now owns 4,620,470 shares of the real estate investment trust’s stock valued at $148,040,000 after purchasing an additional 2,880,470 shares during the period. Norges Bank bought a new stake in shares of CubeSmart in the fourth quarter valued at approximately $54,949,000. Principal Financial Group Inc. raised its position in shares of CubeSmart by 8.4% in the first quarter. Principal Financial Group Inc. now owns 7,225,406 shares of the real estate investment trust’s stock valued at $231,503,000 after purchasing an additional 559,895 shares during the period. Finally, Commonwealth Bank of Australia raised its position in shares of CubeSmart by 122.1% in the first quarter. Commonwealth Bank of Australia now owns 536,796 shares of the real estate investment trust’s stock valued at $17,196,000 after purchasing an additional 295,063 shares during the period. 98.85% of the stock is currently owned by institutional investors.
In other news, VP Jeffrey P. Foster sold 5,958 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.55, for a total value of $193,932.90. Following the sale, the vice president now owns 124,739 shares of the company’s stock, valued at $4,060,254.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.04% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, September 30th. CubeSmart’s dividend payout ratio (DPR) is currently 78.05%.
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.