CubeSmart (NYSE:CUBE) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Investors of record on Monday, October 1st will be given a dividend of 0.30 per share by the real estate investment trust on Monday, October 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, September 28th.
CubeSmart has increased its dividend payment by an average of 27.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. CubeSmart has a payout ratio of 73.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CubeSmart to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 70.2%.
Shares of CubeSmart traded down $0.22, reaching $30.43, on Wednesday, MarketBeat reports. 984,832 shares of the stock were exchanged, compared to its average volume of 1,443,252. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.94. CubeSmart has a twelve month low of $23.46 and a twelve month high of $33.18. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 3.57 and a beta of 0.07.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, July 26th. The real estate investment trust reported $0.41 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm had revenue of $147.82 million during the quarter, compared to the consensus estimate of $148.68 million. CubeSmart had a return on equity of 9.22% and a net margin of 25.89%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. research analysts anticipate that CubeSmart will post 1.63 EPS for the current fiscal year.
A number of analysts have recently commented on CUBE shares. ValuEngine cut CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and set a $37.00 price target on the stock. in a research note on Tuesday, July 17th. Bank of America raised CubeSmart from an “underperform” rating to a “neutral” rating and set a $32.00 price target on the stock in a research note on Tuesday, May 8th. Citigroup lifted their price target on CubeSmart from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, July 4th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $32.36.
CubeSmart Company Profile
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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