$0.40 Earnings Per Share Expected for CubeSmart (CUBE) This Quarter
Analysts expect CubeSmart (NYSE:CUBE) to announce earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for CubeSmart’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.41. CubeSmart posted earnings of $0.13 per share in the same quarter last year, which would suggest a positive year over year growth rate of 207.7%. The firm is expected to report its next earnings report after the market closes on Thursday, October 26th.
On average, analysts expect that CubeSmart will report full-year earnings of $1.54 per share for the current financial year, with EPS estimates ranging from $1.52 to $1.56. For the next financial year, analysts expect that the firm will post earnings of $1.61 per share, with EPS estimates ranging from $1.57 to $1.64. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow CubeSmart.
CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The firm had revenue of $138.60 million for the quarter, compared to analyst estimates of $138.07 million. During the same quarter last year, the company posted $0.36 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis.
CUBE has been the subject of a number of recent research reports. BidaskClub raised shares of CubeSmart from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Bank of America Corporation downgraded shares of CubeSmart from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $27.75 to $25.00 in a research report on Thursday, July 20th. Zacks Investment Research downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Jefferies Group LLC set a $30.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research report on Friday, August 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of CubeSmart in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. CubeSmart presently has an average rating of “Hold” and an average price target of $28.13.
CubeSmart (NYSE:CUBE) opened at 25.82 on Wednesday. The company’s 50 day moving average price is $26.08 and its 200-day moving average price is $25.12. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.06. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 44.59 and a beta of 0.19.
Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in CubeSmart by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 370 shares during the last quarter. PNC Financial Services Group Inc. grew its position in CubeSmart by 31.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,306 shares during the last quarter. Commonwealth Bank of Australia grew its position in CubeSmart by 3.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 283 shares during the last quarter. Neuberger Berman Group LLC bought a new position in CubeSmart in the 1st quarter worth about $222,000. Finally, Profund Advisors LLC bought a new position in CubeSmart in the 2nd quarter worth about $214,000.
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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