CubeSmart (NYSE:CUBE) – Equities researchers at Jefferies Financial Group dropped their Q1 2020 earnings estimates for CubeSmart in a research note issued on Tuesday, March 10th. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $0.39 for the quarter, down from their prior forecast of $0.40. Jefferies Financial Group also issued estimates for CubeSmart’s Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.42 EPS, Q4 2020 earnings at $0.41 EPS, FY2020 earnings at $1.64 EPS, Q1 2021 earnings at $0.40 EPS, Q2 2021 earnings at $0.43 EPS, Q3 2021 earnings at $0.43 EPS, Q4 2021 earnings at $0.42 EPS, FY2021 earnings at $1.67 EPS and FY2022 earnings at $1.73 EPS.
CUBE has been the topic of a number of other reports. Bank of America cut shares of CubeSmart from a “neutral” rating to an “underperform” rating in a research note on Monday, January 6th. Raymond James reaffirmed a “buy” rating and issued a $36.00 price objective on shares of CubeSmart in a research note on Wednesday, February 12th. JPMorgan Chase & Co. began coverage on shares of CubeSmart in a research note on Wednesday, January 22nd. They issued a “neutral” rating and a $32.00 price objective on the stock. BMO Capital Markets lowered shares of CubeSmart from a “market perform” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Tuesday, January 7th. Finally, Zacks Investment Research lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Monday. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.00.
Shares of CUBE stock opened at $30.70 on Wednesday. CubeSmart has a 52-week low of $28.98 and a 52-week high of $36.32. The stock has a market cap of $6.06 billion, a PE ratio of 34.49, a PEG ratio of 5.77 and a beta of 0.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.42 and a current ratio of 0.42. The firm’s 50 day moving average price is $31.81 and its two-hundred day moving average price is $32.58.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.32 annualized dividend and a yield of 4.30%. CubeSmart’s dividend payout ratio (DPR) is presently 78.11%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in CubeSmart by 40.9% in the fourth quarter. FMR LLC now owns 19,546,681 shares of the real estate investment trust’s stock worth $615,331,000 after purchasing an additional 5,678,273 shares during the period. State Street Corp raised its holdings in shares of CubeSmart by 4.0% during the third quarter. State Street Corp now owns 8,166,076 shares of the real estate investment trust’s stock worth $287,579,000 after acquiring an additional 316,440 shares during the period. Principal Financial Group Inc. raised its holdings in shares of CubeSmart by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,521,919 shares of the real estate investment trust’s stock worth $236,790,000 after acquiring an additional 295,170 shares during the period. PGGM Investments raised its holdings in shares of CubeSmart by 61.7% during the fourth quarter. PGGM Investments now owns 7,105,428 shares of the real estate investment trust’s stock worth $223,679,000 after acquiring an additional 2,710,022 shares during the period. Finally, Lasalle Investment Management Securities LLC raised its holdings in shares of CubeSmart by 8.9% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 4,060,521 shares of the real estate investment trust’s stock worth $127,825,000 after acquiring an additional 332,364 shares during the period. Institutional investors own 99.06% of the company’s stock.
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.