CubeSmart (CUBE) Releases FY18 Earnings Guidance

CubeSmart (NYSE:CUBE) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.61-1.65 for the period, compared to the Thomson Reuters consensus estimate of $1.64.

Shares of CUBE traded up $0.67 during midday trading on Thursday, reaching $28.38. The stock had a trading volume of 1,687,343 shares, compared to its average volume of 1,432,753. CubeSmart has a 1-year low of $22.83 and a 1-year high of $29.79. The firm has a market capitalization of $5,072.79, a price-to-earnings ratio of 17.85, a PEG ratio of 3.55 and a beta of 0.09. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.00.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, April 26th. The real estate investment trust reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. CubeSmart had a net margin of 24.02% and a return on equity of 8.39%. The business had revenue of $142.90 million for the quarter, compared to analyst estimates of $144.05 million. During the same period last year, the business earned $0.36 EPS. The company’s revenue was up 7.4% on a year-over-year basis. analysts predict that CubeSmart will post 1.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Monday, April 2nd were issued a $0.30 dividend. The ex-dividend date was Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.23%. CubeSmart’s payout ratio is 75.47%.

A number of equities research analysts have recently weighed in on CUBE shares. B. Riley set a $32.00 price objective on shares of CubeSmart and gave the company a buy rating in a report on Tuesday, January 2nd. Zacks Investment Research lowered shares of CubeSmart from a buy rating to a hold rating in a report on Tuesday, January 2nd. SunTrust Banks set a $31.00 price objective on shares of CubeSmart and gave the company a hold rating in a report on Monday, January 22nd. Cantor Fitzgerald restated a buy rating and issued a $31.00 price objective on shares of CubeSmart in a report on Thursday, February 15th. Finally, BMO Capital Markets set a $27.00 price target on shares of CubeSmart and gave the stock a hold rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $30.00.

An institutional investor recently raised its position in CubeSmart stock. The Manufacturers Life Insurance Company increased its stake in shares of CubeSmart (NYSE:CUBE) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,341 shares of the real estate investment trust’s stock after acquiring an additional 370 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CubeSmart were worth $128,000 at the end of the most recent quarter.

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.

Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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