CubeSmart (CUBE) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
CubeSmart (NASDAQ:CUBE) posted its quarterly earnings results on Thursday. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.01, AnalystRatingsNetwork reports. The company had revenue of $92.34 million for the quarter, compared to the consensus estimate of $90.98 million. During the same quarter last year, the company posted $0.23 earnings per share. CubeSmart’s revenue was up 17.9% compared to the same quarter last year. CubeSmart updated its Q3 guidance to $0.26-0.27 EPS and its FY14 guidance to $1.03-1.06 EPS.
Shares of CubeSmart (NASDAQ:CUBE) traded up 0.55% on Thursday, hitting $18.42. 761,828 shares of the company’s stock traded hands. CubeSmart has a 52-week low of $15.06 and a 52-week high of $19.69. The stock’s 50-day moving average is $18.44 and its 200-day moving average is $17.79. The company has a market cap of $2.658 billion and a P/E ratio of 62.10.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Monday, September 29th.
A number of research firms have recently commented on CUBE. Analysts at SunTrust raised their price target on shares of CubeSmart from $17.00 to $19.00 in a research note on Friday, May 16th. They now have a “neutral” rating on the stock. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of CubeSmart in a research note on Tuesday, May 13th. They now have a $18.00 price target on the stock, up previously from $17.00. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. CubeSmart presently has an average rating of “Hold” and a consensus price target of $19.10.
CubeSmart is a financials company in the Specialized REITs industry.
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