CubeSmart (NYSE:CUBE) – DA Davidson reduced their Q1 2018 EPS estimates for CubeSmart in a note issued to investors on Friday. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will post earnings of $0.39 per share for the quarter, down from their previous estimate of $0.40. DA Davidson also issued estimates for CubeSmart’s Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.43 EPS, Q1 2019 earnings at $0.42 EPS and Q4 2019 earnings at $0.46 EPS.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. CubeSmart had a return on equity of 8.40% and a net margin of 24.02%. The firm had revenue of $143.48 million during the quarter, compared to analysts’ expectations of $143.18 million. During the same quarter last year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.
Other research analysts have also issued research reports about the company. B. Riley restated a “buy” rating on shares of CubeSmart in a report on Wednesday, November 1st. Jefferies Group set a $33.00 target price on CubeSmart and gave the company a “buy” rating in a report on Tuesday, November 28th. BidaskClub upgraded CubeSmart from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. SunTrust Banks set a $31.00 target price on CubeSmart and gave the company a “hold” rating in a report on Monday, January 22nd. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $31.00 target price on shares of CubeSmart in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. CubeSmart presently has an average rating of “Hold” and a consensus target price of $29.82.
CubeSmart (CUBE) opened at $25.89 on Monday. CubeSmart has a fifty-two week low of $22.83 and a fifty-two week high of $29.79. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $4,764.74, a P/E ratio of 34.52, a PEG ratio of 2.86 and a beta of 0.13.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a yield of 4.63%. CubeSmart’s dividend payout ratio (DPR) is currently 160.00%.
In related news, CFO Timothy M. Martin sold 57,746 shares of CubeSmart stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.41, for a total transaction of $1,698,309.86. Following the sale, the chief financial officer now directly owns 211,694 shares in the company, valued at $6,225,920.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher P. Marr sold 6,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $29.33, for a total value of $175,980.00. Following the completion of the sale, the chief executive officer now owns 410,138 shares in the company, valued at $12,029,347.54. The disclosure for this sale can be found here. Insiders have sold 167,425 shares of company stock worth $4,915,172 over the last quarter. 1.20% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its stake in shares of CubeSmart by 9.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 124,437 shares of the real estate investment trust’s stock valued at $3,598,000 after buying an additional 10,277 shares during the period. Sterling Capital Management LLC raised its stake in shares of CubeSmart by 92.8% in the fourth quarter. Sterling Capital Management LLC now owns 173,530 shares of the real estate investment trust’s stock valued at $5,018,000 after buying an additional 83,530 shares during the period. Glenmede Trust Co. NA bought a new stake in shares of CubeSmart in the fourth quarter valued at $24,558,000. Macquarie Group Ltd. raised its stake in shares of CubeSmart by 1,264.0% in the fourth quarter. Macquarie Group Ltd. now owns 669,880 shares of the real estate investment trust’s stock valued at $24,906,000 after buying an additional 620,770 shares during the period. Finally, Vident Investment Advisory LLC bought a new stake in shares of CubeSmart in the fourth quarter valued at $308,000.
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CubeSmart Company Profile
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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