CubeSmart (CUBE) to Post FY2020 Earnings of $1.75 Per Share, Jefferies Financial Group Forecasts

CubeSmart (NYSE:CUBE) – Analysts at Jefferies Financial Group upped their FY2020 earnings estimates for shares of CubeSmart in a research report issued to clients and investors on Friday, January 18th. Jefferies Financial Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $1.75 for the year, up from their prior estimate of $1.74.

CUBE has been the topic of several other research reports. Bank of America raised shares of CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price target on the stock in a research report on Thursday, November 15th. BMO Capital Markets lowered shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 9th. Zacks Investment Research lowered shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, December 13th. ValuEngine raised shares of CubeSmart from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Finally, Citigroup lowered their price target on shares of CubeSmart from $33.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday, October 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. CubeSmart currently has an average rating of “Buy” and an average target price of $31.91.

NYSE CUBE opened at $29.25 on Monday. CubeSmart has a 12-month low of $25.22 and a 12-month high of $33.18. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market capitalization of $5.45 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.24.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.18). CubeSmart had a net margin of 26.43% and a return on equity of 9.34%. The business had revenue of $153.37 million during the quarter, compared to the consensus estimate of $150.76 million.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in CubeSmart by 2.2% during the third quarter. Vanguard Group Inc. now owns 28,282,874 shares of the real estate investment trust’s stock valued at $806,910,000 after acquiring an additional 603,875 shares in the last quarter. Vanguard Group Inc grew its stake in CubeSmart by 2.2% during the third quarter. Vanguard Group Inc now owns 28,282,874 shares of the real estate investment trust’s stock valued at $806,910,000 after acquiring an additional 603,875 shares in the last quarter. BlackRock Inc. grew its stake in CubeSmart by 2.0% during the third quarter. BlackRock Inc. now owns 13,896,899 shares of the real estate investment trust’s stock valued at $396,479,000 after acquiring an additional 267,274 shares in the last quarter. Alliancebernstein L.P. grew its stake in CubeSmart by 170.7% during the third quarter. Alliancebernstein L.P. now owns 9,565,516 shares of the real estate investment trust’s stock valued at $272,904,000 after acquiring an additional 6,031,338 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in CubeSmart by 77.5% during the third quarter. JPMorgan Chase & Co. now owns 3,910,336 shares of the real estate investment trust’s stock valued at $111,561,000 after acquiring an additional 1,707,863 shares in the last quarter.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd were paid a dividend of $0.32 per share. The ex-dividend date was Monday, December 31st. This represents a $1.28 annualized dividend and a yield of 4.38%. This is a boost from CubeSmart’s previous quarterly dividend of $0.30. CubeSmart’s payout ratio is currently 80.50%.

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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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