Wall Street analysts expect CubeSmart (NYSE:CUBE) to report earnings per share (EPS) of $0.41 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for CubeSmart’s earnings, with estimates ranging from $0.40 to $0.41. CubeSmart posted earnings per share of $0.38 in the same quarter last year, which indicates a positive year-over-year growth rate of 7.9%. The company is expected to issue its next earnings report on Thursday, February 15th.
On average, analysts expect that CubeSmart will report full year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.56 to $1.58. For the next fiscal year, analysts anticipate that the business will report earnings of $1.63 per share, with EPS estimates ranging from $1.61 to $1.66. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow CubeSmart.
A number of equities analysts have issued reports on the company. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Monday, December 18th. Robert W. Baird lowered CubeSmart from an “outperform” rating to a “neutral” rating and increased their price target for the company from $27.00 to $29.00 in a research note on Tuesday, November 28th. B. Riley set a $32.00 price objective on CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 14th. BidaskClub upgraded CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Finally, Jefferies Group set a $33.00 price objective on CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $29.00.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from CubeSmart’s previous quarterly dividend of $0.27. CubeSmart’s dividend payout ratio is 181.82%.
In other news, CFO Timothy M. Martin sold 57,746 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.41, for a total value of $1,698,309.86. Following the completion of the sale, the chief financial officer now owns 211,694 shares in the company, valued at $6,225,920.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher P. Marr sold 6,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $29.33, for a total value of $175,980.00. Following the completion of the sale, the chief executive officer now owns 410,138 shares of the company’s stock, valued at approximately $12,029,347.54. The disclosure for this sale can be found here. Insiders have sold a total of 167,425 shares of company stock valued at $4,915,172 in the last quarter. Insiders own 1.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its holdings in shares of CubeSmart by 0.9% in the second quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 155 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of CubeSmart by 1.6% in the second quarter. D.A. Davidson & CO. now owns 10,401 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 164 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 283 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 370 shares in the last quarter. Finally, Utah Retirement Systems lifted its holdings in shares of CubeSmart by 3.1% in the second quarter. Utah Retirement Systems now owns 37,822 shares of the real estate investment trust’s stock valued at $909,000 after purchasing an additional 1,122 shares in the last quarter.
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CubeSmart Company Profile
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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