CubeSmart (NYSE:CUBE) declared a quarterly dividend on Tuesday, May 12th, Zacks reports. Shareholders of record on Wednesday, July 1st will be given a dividend of 0.33 per share by the real estate investment trust on Wednesday, July 15th. This represents a $1.32 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Tuesday, June 30th.
CubeSmart has a dividend payout ratio of 169.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CubeSmart to earn $1.62 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 81.5%.
CUBE opened at $26.31 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 7.54 and a beta of 0.29. The firm has a 50 day simple moving average of $26.96 and a 200 day simple moving average of $28.72. CubeSmart has a fifty-two week low of $19.61 and a fifty-two week high of $36.32.
CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.20). The company had revenue of $164.08 million during the quarter, compared to analyst estimates of $162.56 million. CubeSmart had a net margin of 26.18% and a return on equity of 9.53%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. As a group, analysts expect that CubeSmart will post 1.62 EPS for the current year.
Several equities analysts have recently weighed in on CUBE shares. Raymond James lowered shares of CubeSmart from a “strong-buy” rating to an “outperform” rating in a research report on Sunday, April 19th. TheStreet lowered shares of CubeSmart from a “b-” rating to a “c+” rating in a report on Wednesday, April 8th. SunTrust Banks cut their target price on shares of CubeSmart from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Friday, April 17th. Citigroup lowered their price objective on shares of CubeSmart from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Stifel Nicolaus decreased their price target on shares of CubeSmart from $32.00 to $21.00 and set a “hold” rating for the company in a research note on Tuesday, March 24th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. CubeSmart presently has an average rating of “Hold” and an average price target of $29.33.
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 2019 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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