CubeSmart (NYSE:CUBE) declared a quarterly dividend on Wednesday, July 26th, Wall Street Journal reports. Stockholders of record on Monday, October 2nd will be given a dividend of 0.27 per share by the real estate investment trust on Monday, October 16th. This represents a $1.08 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, September 29th.

CubeSmart has increased its dividend by an average of 24.1% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. CubeSmart has a dividend payout ratio of 70.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CubeSmart to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 65.9%.

CubeSmart (CUBE) traded up 1.28% on Wednesday, hitting $24.51. The stock had a trading volume of 771,526 shares. The company has a market cap of $4.42 billion, a P/E ratio of 48.44 and a beta of 0.18. The stock’s 50-day moving average is $24.05 and its 200-day moving average is $25.55. CubeSmart has a 52-week low of $22.83 and a 52-week high of $30.34.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, April 27th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $133 million during the quarter, compared to analyst estimates of $133.30 million. CubeSmart had a net margin of 18.53% and a return on equity of 5.80%. CubeSmart’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Analysts expect that CubeSmart will post $0.67 earnings per share for the current year.

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A number of analysts have recently weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $31.00 target price on shares of CubeSmart in a report on Tuesday, April 18th. Zacks Investment Research lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Cantor Fitzgerald dropped their target price on shares of CubeSmart from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, May 22nd. Citigroup Inc. reiterated a “neutral” rating and set a $27.00 target price (down from $29.00) on shares of CubeSmart in a report on Thursday, May 11th. Finally, Bank of America Corporation lowered shares of CubeSmart from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $27.75 to $25.00 in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.22.

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.

Dividend History for CubeSmart (NYSE:CUBE)

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