CubeSmart (NYSE:CUBE) – Investment analysts at Jefferies Financial Group reduced their Q3 2019 earnings per share estimates for shares of CubeSmart in a note issued to investors on Monday, July 15th. Jefferies Financial Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings of $0.42 per share for the quarter, down from their prior estimate of $0.43. Jefferies Financial Group also issued estimates for CubeSmart’s Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.65 EPS, Q1 2020 earnings at $0.41 EPS, FY2020 earnings at $1.73 EPS, Q1 2021 earnings at $0.43 EPS and FY2021 earnings at $1.81 EPS.
A number of other equities research analysts have also recently issued reports on CUBE. Raymond James set a $28.00 target price on shares of Wheaton Precious Metals and gave the stock a “buy” rating in a research report on Thursday, March 21st. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Finally, Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $31.37.
CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, April 25th. The real estate investment trust reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The company had revenue of $152.85 million during the quarter, compared to the consensus estimate of $154.06 million. CubeSmart had a net margin of 28.02% and a return on equity of 9.67%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS.
Large investors have recently modified their holdings of the company. Zions Bancorporation N.A. acquired a new stake in shares of CubeSmart during the 2nd quarter worth approximately $32,000. Advisory Services Network LLC grew its position in shares of CubeSmart by 200.0% during the 1st quarter. Advisory Services Network LLC now owns 1,500 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,000 shares during the period. Quadrant Capital Group LLC grew its position in shares of CubeSmart by 1,473.8% during the 1st quarter. Quadrant Capital Group LLC now owns 2,880 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 2,697 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of CubeSmart during the 1st quarter worth approximately $96,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of CubeSmart during the 1st quarter worth approximately $207,000. Institutional investors own 98.94% of the company’s stock.
In other CubeSmart news, CFO Timothy M. Martin sold 5,430 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $32.50, for a total value of $176,475.00. Following the completion of the sale, the chief financial officer now owns 187,666 shares in the company, valued at approximately $6,099,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey P. Foster sold 5,958 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $32.55, for a total transaction of $193,932.90. Following the completion of the sale, the vice president now owns 124,739 shares of the company’s stock, valued at approximately $4,060,254.45. The disclosure for this sale can be found here. Insiders have sold a total of 57,566 shares of company stock valued at $1,869,808 in the last quarter. 1.04% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, June 28th. CubeSmart’s dividend payout ratio (DPR) is currently 78.05%.
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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