CubeSmart (NYSE:CUBE) – Equities researchers at Jefferies Group reduced their FY2019 earnings per share (EPS) estimates for shares of CubeSmart in a note issued to investors on Tuesday. Jefferies Group analyst G. Hoglund now forecasts that the real estate investment trust will post earnings of $1.71 per share for the year, down from their previous estimate of $1.72. Jefferies Group currently has a “Buy” rating and a $33.00 price target on the stock.
Several other research analysts have also recently issued reports on CUBE. Robert W. Baird reaffirmed a “buy” rating and issued a $27.00 price target on shares of CubeSmart in a report on Tuesday, October 17th. BidaskClub raised CubeSmart from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $28.00 price target on shares of CubeSmart in a report on Thursday, October 26th. FBR & Co reaffirmed a “buy” rating and issued a $32.00 price target on shares of CubeSmart in a report on Friday, October 27th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $25.00 price target on shares of CubeSmart in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. CubeSmart presently has an average rating of “Hold” and a consensus price target of $29.00.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.18). CubeSmart had a net margin of 22.19% and a return on equity of 7.58%.
Several institutional investors have recently bought and sold shares of CUBE. Cohen & Steers Inc. grew its holdings in shares of CubeSmart by 349.3% during the 3rd quarter. Cohen & Steers Inc. now owns 13,828,409 shares of the real estate investment trust’s stock valued at $358,985,000 after acquiring an additional 10,750,476 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of CubeSmart by 43,425.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,094,592 shares of the real estate investment trust’s stock valued at $184,176,000 after acquiring an additional 7,078,292 shares in the last quarter. Cbre Clarion Securities LLC grew its holdings in shares of CubeSmart by 62.1% during the 2nd quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock valued at $152,041,000 after acquiring an additional 2,423,464 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of CubeSmart during the 3rd quarter valued at $47,549,000. Finally, Citadel Advisors LLC grew its holdings in shares of CubeSmart by 287.3% during the 3rd quarter. Citadel Advisors LLC now owns 1,564,845 shares of the real estate investment trust’s stock valued at $40,623,000 after acquiring an additional 1,160,777 shares in the last quarter.
In other CubeSmart news, CFO Timothy M. Martin sold 83,409 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total transaction of $2,445,551.88. Following the sale, the chief financial officer now directly owns 228,948 shares of the company’s stock, valued at approximately $6,712,755.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan L. Perry sold 20,270 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $29.37, for a total transaction of $595,329.90. Following the sale, the senior vice president now directly owns 67,197 shares in the company, valued at $1,973,575.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,425 shares of company stock worth $4,915,172. Company insiders own 1.20% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.30 per share. This is an increase from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, December 29th. CubeSmart’s payout ratio is 184.62%.
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CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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