Zacks: Brokerages Anticipate CubeSmart (NYSE:CUBE) Will Announce Earnings of $0.43 Per Share

Analysts expect CubeSmart (NYSE:CUBE) to report $0.43 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for CubeSmart’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.43. CubeSmart also posted earnings of $0.43 per share in the same quarter last year. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, October 24th.

On average, analysts expect that CubeSmart will report full-year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $1.67 to $1.68. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.73 per share, with EPS estimates ranging from $1.71 to $1.75. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover CubeSmart.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.15). The firm had revenue of $159.00 million for the quarter, compared to the consensus estimate of $158.86 million. CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. CubeSmart’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share.

Several analysts have weighed in on CUBE shares. Raymond James upped their price objective on shares of CubeSmart from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. ValuEngine cut shares of CubeSmart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of CubeSmart from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Monday, September 30th. Bank of America cut shares of CubeSmart from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus started coverage on shares of CubeSmart in a research note on Monday, August 19th. They set a “hold” rating and a $35.00 price objective on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. CubeSmart has a consensus rating of “Hold” and an average price target of $33.70.

In other news, CFO Timothy M. Martin sold 32,028 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $35.75, for a total transaction of $1,145,001.00. Following the sale, the chief financial officer now directly owns 214,264 shares of the company’s stock, valued at $7,659,938. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy M. Martin sold 17,791 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $35.80, for a total transaction of $636,917.80. Following the sale, the chief financial officer now directly owns 200,027 shares in the company, valued at $7,160,966.60. The disclosure for this sale can be found here. Insiders have sold 129,707 shares of company stock worth $4,669,870 over the last three months. 1.04% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new stake in shares of CubeSmart during the second quarter valued at approximately $32,000. Advisory Services Network LLC grew its stake in shares of CubeSmart by 200.0% during the first quarter. Advisory Services Network LLC now owns 1,500 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of CubeSmart during the second quarter valued at approximately $51,000. Advisor Group Inc. grew its stake in shares of CubeSmart by 36.3% during the second quarter. Advisor Group Inc. now owns 3,418 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 910 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of CubeSmart during the second quarter valued at approximately $122,000. 98.90% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart stock traded down $0.19 during trading hours on Thursday, hitting $34.54. 1,400,706 shares of the stock were exchanged, compared to its average volume of 1,238,978. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $6.68 billion, a P/E ratio of 21.06, a P/E/G ratio of 6.34 and a beta of 0.16. CubeSmart has a 12 month low of $27.30 and a 12 month high of $36.32. The business’s 50-day moving average is $35.37 and its two-hundred day moving average is $33.88.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 3.71%. CubeSmart’s dividend payout ratio is 78.05%.

About CubeSmart

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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