Equities research analysts expect CubeSmart (NYSE:CUBE) to post sales of $163.76 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for CubeSmart’s earnings, with the lowest sales estimate coming in at $158.40 million and the highest estimate coming in at $170.16 million. CubeSmart posted sales of $159.02 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3%. The business is scheduled to issue its next earnings report on Thursday, July 23rd.
According to Zacks, analysts expect that CubeSmart will report full-year sales of $660.54 million for the current financial year, with estimates ranging from $649.06 million to $671.99 million. For the next fiscal year, analysts forecast that the business will post sales of $672.93 million, with estimates ranging from $642.81 million to $685.64 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for CubeSmart.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.20). CubeSmart had a return on equity of 9.53% and a net margin of 26.18%. The business had revenue of $164.08 million for the quarter, compared to analyst estimates of $162.56 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of CUBE. FMR LLC lifted its stake in shares of CubeSmart by 40.9% during the 4th quarter. FMR LLC now owns 19,546,681 shares of the real estate investment trust’s stock worth $615,331,000 after purchasing an additional 5,678,273 shares during the period. Resolution Capital Ltd lifted its stake in shares of CubeSmart by 357.3% during the 1st quarter. Resolution Capital Ltd now owns 2,797,282 shares of the real estate investment trust’s stock worth $74,939,000 after purchasing an additional 2,185,600 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of CubeSmart by 579.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,357,392 shares of the real estate investment trust’s stock worth $63,155,000 after purchasing an additional 2,010,344 shares during the period. Norges Bank purchased a new position in shares of CubeSmart during the 4th quarter worth $63,243,000. Finally, Alliancebernstein L.P. lifted its stake in shares of CubeSmart by 25.0% during the 1st quarter. Alliancebernstein L.P. now owns 9,626,342 shares of the real estate investment trust’s stock worth $257,890,000 after purchasing an additional 1,925,384 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CUBE traded down $0.65 on Friday, hitting $26.31. 1,991,860 shares of the company’s stock were exchanged, compared to its average volume of 1,671,234. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s 50-day moving average price is $26.96 and its two-hundred day moving average price is $28.72. CubeSmart has a fifty-two week low of $19.61 and a fifty-two week high of $36.32. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 7.73 and a beta of 0.29.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Tuesday, June 30th. CubeSmart’s payout ratio is currently 78.11%.
CubeSmart Company Profile
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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