CubeSmart (CUBE) Expected to Announce Quarterly Sales of $144.86 Million

Wall Street brokerages predict that CubeSmart (NYSE:CUBE) will announce sales of $144.86 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for CubeSmart’s earnings, with estimates ranging from $142.30 million to $147.99 million. CubeSmart posted sales of $133.04 million in the same quarter last year, which suggests a positive year over year growth rate of 8.9%. The business is expected to announce its next earnings results after the market closes on Thursday, April 26th.

According to Zacks, analysts expect that CubeSmart will report full year sales of $144.86 million for the current fiscal year, with estimates ranging from $579.00 million to $615.42 million. For the next fiscal year, analysts anticipate that the firm will post sales of $612.58 million per share, with estimates ranging from $572.28 million to $639.07 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CubeSmart.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $143.48 million during the quarter, compared to analyst estimates of $143.18 million. CubeSmart had a return on equity of 8.39% and a net margin of 24.02%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS.

CUBE has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $31.00 price target on shares of CubeSmart in a report on Thursday, February 15th. Zacks Investment Research downgraded CubeSmart from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. BMO Capital Markets upgraded CubeSmart from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $27.00 to $30.00 in a report on Friday, March 2nd. Jefferies Group set a $32.00 price objective on CubeSmart and gave the stock a “buy” rating in a report on Monday, March 5th. Finally, ValuEngine upgraded CubeSmart from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.00.

Several large investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB purchased a new position in shares of CubeSmart in the 4th quarter valued at $443,000. Envestnet Asset Management Inc. increased its holdings in shares of CubeSmart by 9.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 124,437 shares of the real estate investment trust’s stock valued at $3,598,000 after acquiring an additional 10,277 shares during the period. Sterling Capital Management LLC increased its holdings in shares of CubeSmart by 92.8% in the 4th quarter. Sterling Capital Management LLC now owns 173,530 shares of the real estate investment trust’s stock valued at $5,018,000 after acquiring an additional 83,530 shares during the period. Glenmede Trust Co. NA purchased a new position in shares of CubeSmart in the 4th quarter valued at $24,558,000. Finally, Macquarie Group Ltd. increased its holdings in shares of CubeSmart by 1,264.0% in the 4th quarter. Macquarie Group Ltd. now owns 669,880 shares of the real estate investment trust’s stock valued at $24,906,000 after acquiring an additional 620,770 shares during the period.

Shares of NYSE CUBE traded down $0.25 during midday trading on Tuesday, hitting $28.25. The company’s stock had a trading volume of 863,556 shares, compared to its average volume of 1,259,753. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.06 and a current ratio of 0.06. CubeSmart has a 12-month low of $22.83 and a 12-month high of $29.79. The company has a market cap of $5,149.35, a price-to-earnings ratio of 17.77, a PEG ratio of 3.59 and a beta of 0.09.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a $0.30 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.25%. CubeSmart’s dividend payout ratio is presently 75.47%.

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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 2018 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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