Brokerages expect that CubeSmart (NYSE:CUBE) will post earnings of $0.41 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for CubeSmart’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.40. CubeSmart reported earnings of $0.38 per share during the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The company is scheduled to issue its next quarterly earnings report after the market closes on Thursday, February 15th.
According to Zacks, analysts expect that CubeSmart will report full-year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.56 to $1.58. For the next year, analysts expect that the firm will report earnings of $1.63 per share, with EPS estimates ranging from $1.61 to $1.66. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover CubeSmart.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). CubeSmart had a return on equity of 7.58% and a net margin of 22.19%.
Shares of CubeSmart (CUBE) opened at $27.29 on Tuesday. The stock has a market capitalization of $4,894.65, a PE ratio of 41.35, a P/E/G ratio of 3.33 and a beta of 0.22. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a one year low of $22.83 and a one year high of $29.79.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were paid a dividend of $0.30 per share. The ex-dividend date was Friday, December 29th. This is an increase from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.40%. CubeSmart’s dividend payout ratio (DPR) is 181.82%.
In related news, CEO Christopher P. Marr sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.33, for a total value of $175,980.00. Following the transaction, the chief executive officer now directly owns 410,138 shares of the company’s stock, valued at approximately $12,029,347.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy M. Martin sold 83,409 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 167,425 shares of company stock worth $4,915,172 over the last three months. 1.20% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC grew its holdings in CubeSmart by 22.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,486 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 1,945 shares during the last quarter. Teachers Advisors LLC grew its holdings in CubeSmart by 20.0% in the 2nd quarter. Teachers Advisors LLC now owns 289,976 shares of the real estate investment trust’s stock valued at $6,971,000 after buying an additional 48,416 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in CubeSmart by 20.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 699,805 shares of the real estate investment trust’s stock valued at $16,823,000 after buying an additional 120,908 shares during the last quarter. Nationwide Fund Advisors grew its holdings in CubeSmart by 23.6% in the 2nd quarter. Nationwide Fund Advisors now owns 97,911 shares of the real estate investment trust’s stock valued at $2,354,000 after buying an additional 18,714 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in CubeSmart by 5.4% in the 2nd quarter. BlackRock Inc. now owns 12,780,418 shares of the real estate investment trust’s stock valued at $307,242,000 after buying an additional 650,691 shares during the last quarter.
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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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