Brokerages Anticipate CubeSmart (CUBE) Will Post Quarterly Sales of $144.86 Million

Analysts predict that CubeSmart (NYSE:CUBE) will post $144.86 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for CubeSmart’s earnings, with estimates ranging from $142.30 million to $147.99 million. CubeSmart posted sales of $133.04 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.9%. The business is scheduled to issue its next earnings results after the market closes on Thursday, April 26th.

On average, analysts expect that CubeSmart will report full year sales of $144.86 million for the current financial year, with estimates ranging from $579.00 million to $615.42 million. For the next fiscal year, analysts forecast that the company will report sales of $612.58 million per share, with estimates ranging from $572.28 million to $639.07 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for CubeSmart.

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CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. CubeSmart had a net margin of 24.02% and a return on equity of 8.39%. The company had revenue of $143.48 million during the quarter, compared to analysts’ expectations of $143.18 million. During the same period last year, the company posted $0.38 EPS. CubeSmart’s revenue was up 8.3% on a year-over-year basis.

A number of research analysts recently issued reports on CUBE shares. Cantor Fitzgerald reissued a “buy” rating and set a $31.00 price target on shares of CubeSmart in a research report on Thursday, February 15th. Zacks Investment Research cut shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. BMO Capital Markets raised shares of CubeSmart from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $27.00 to $30.00 in a research report on Friday, March 2nd. Jefferies Group set a $32.00 price target on shares of CubeSmart and gave the company a “buy” rating in a research report on Monday, March 5th. Finally, ValuEngine raised shares of CubeSmart from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. CubeSmart currently has a consensus rating of “Buy” and a consensus price target of $30.00.

NYSE CUBE traded down $0.28 during trading hours on Tuesday, reaching $28.22. 542,786 shares of the company’s stock traded hands, compared to its average volume of 1,489,054. CubeSmart has a 52-week low of $22.83 and a 52-week high of $29.79. The stock has a market cap of $5,185.80, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 3.62 and a beta of 0.09. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.06 and a quick ratio of 0.06.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a yield of 4.25%. CubeSmart’s dividend payout ratio is currently 75.47%.

A number of large investors have recently added to or reduced their stakes in CUBE. The Manufacturers Life Insurance Company increased its stake in CubeSmart by 7.4% during the 2nd 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. New York State Common Retirement Fund increased its stake in CubeSmart by 3.9% during the 3rd quarter. New York State Common Retirement Fund now owns 399,200 shares of the real estate investment trust’s stock valued at $10,363,000 after purchasing an additional 15,000 shares in the last quarter. Comerica Bank bought a new stake in CubeSmart during the 3rd quarter valued at about $220,000. Advisors Asset Management Inc. increased its stake in CubeSmart by 17.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,151 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 2,493 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in CubeSmart by 251.7% during the 3rd quarter. SG Americas Securities LLC now owns 34,641 shares of the real estate investment trust’s stock valued at $899,000 after purchasing an additional 24,792 shares in the last quarter.

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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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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