CubeSmart (NYSE:CUBE) Expected to Post FY2019 Earnings of $1.71 Per Share

CubeSmart (NYSE:CUBE) – Equities research analysts at Jefferies Group reduced their FY2019 earnings per share (EPS) estimates for CubeSmart in a research note issued to investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst G. Hoglund now anticipates that the real estate investment trust will earn $1.71 per share for the year, down from their previous forecast of $1.72. Jefferies Group currently has a “Buy” rating and a $33.00 target price on the stock.

CUBE has been the topic of several other reports. BidaskClub upgraded CubeSmart from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. SunTrust Banks restated a “hold” rating and set a $25.00 price objective on shares of CubeSmart in a report on Friday, October 27th. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Monday, December 18th. B. Riley set a $32.00 price objective on CubeSmart and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, FBR & Co restated a “buy” rating and set a $32.00 price objective 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 given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.55.

Shares of CubeSmart (CUBE) traded up $0.84 during mid-day trading on Wednesday, hitting $26.18. The company had a trading volume of 1,487,439 shares, compared to its average volume of 1,614,476. The company has a market cap of $4,735.46, a price-to-earnings ratio of 39.67, a P/E/G ratio of 2.85 and a beta of 0.13. CubeSmart has a 52-week low of $22.83 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 29th. This is an increase from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.58%. CubeSmart’s dividend payout ratio (DPR) is currently 181.82%.

In related news, CFO Timothy M. Martin sold 57,746 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.41, for a total transaction of $1,698,309.86. Following the transaction, the chief financial officer now directly owns 211,694 shares in the company, valued at approximately $6,225,920.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Timothy M. Martin sold 83,409 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $29.32, for a total value of $2,445,551.88. Following the transaction, the chief financial officer now owns 228,948 shares in the company, valued at $6,712,755.36. The disclosure for this sale can be found here. Insiders sold a total of 167,425 shares of company stock worth $4,915,172 over the last quarter. Company insiders own 1.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CUBE. Cohen & Steers Inc. lifted its position in 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 worth $358,985,000 after acquiring an additional 10,750,476 shares during the period. BlackRock Inc. lifted its position in CubeSmart by 3.5% during the 4th quarter. BlackRock Inc. now owns 13,259,542 shares of the real estate investment trust’s stock worth $383,466,000 after acquiring an additional 453,261 shares during the period. Bank of New York Mellon Corp lifted its position in CubeSmart by 8.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,630,827 shares of the real estate investment trust’s stock worth $327,897,000 after acquiring an additional 958,151 shares during the period. Principal Financial Group Inc. lifted its position in CubeSmart by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,403,963 shares of the real estate investment trust’s stock worth $192,207,000 after acquiring an additional 363,927 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in 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 worth $184,176,000 after acquiring an additional 7,078,292 shares during the period.

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About CubeSmart

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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