CubeSmart Expected to Post FY2019 Earnings of $1.71 Per Share (CUBE)
CubeSmart (NYSE:CUBE) – Investment analysts at Jefferies Group decreased their FY2019 earnings per share (EPS) estimates for CubeSmart in a report released on Tuesday. Jefferies Group analyst G. Hoglund now anticipates that the real estate investment trust will post earnings per share of $1.71 for the year, down from their prior forecast of $1.72. Jefferies Group currently has a “Buy” rating and a $33.00 target price on the stock.
CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). CubeSmart had a return on equity of 7.58% and a net margin of 22.19%.
CubeSmart (NYSE:CUBE) traded up $0.02 on Wednesday, hitting $27.38. The stock had a trading volume of 2,009,902 shares, compared to its average volume of 1,540,000. CubeSmart has a 12 month low of $22.83 and a 12 month 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 company has a market capitalization of $4,950.00, a PE ratio of 42.12, a price-to-earnings-growth ratio of 3.35 and a beta of 0.22.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.38%. This is a positive change from CubeSmart’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 29th. CubeSmart’s dividend payout ratio is presently 184.62%.
In related news, CFO Timothy M. Martin sold 83,409 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $29.32, for a total value of $2,445,551.88. Following the completion of the transaction, the chief financial officer now directly owns 228,948 shares in the company, valued at $6,712,755.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy M. Martin sold 57,746 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $29.41, for a total value of $1,698,309.86. Following the completion of the transaction, the chief financial officer now owns 211,694 shares of the company’s stock, valued at $6,225,920.54. The disclosure for this sale can be found here. Insiders sold 167,425 shares of company stock valued at $4,915,172 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 370 shares in the last quarter. Commonwealth Bank of Australia raised its stake in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 283 shares in the last quarter. World Asset Management Inc acquired a new position in shares of CubeSmart in the third quarter valued at $200,000. Comerica Bank acquired a new position in shares of CubeSmart in the third quarter valued at $220,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of CubeSmart in the third quarter valued at $211,000.
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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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