Wall Street brokerages forecast that CubeSmart (NYSE:CUBE) will report earnings per share of $0.39 for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for CubeSmart’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.40. CubeSmart reported earnings of $0.36 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The business is expected to issue its next quarterly earnings report on Thursday, April 26th.

According to Zacks, analysts expect that CubeSmart will report full year earnings of $1.63 per share for the current fiscal year, with EPS estimates ranging from $1.61 to $1.64. For the next financial year, analysts anticipate that the firm will report earnings of $1.70 per share, with EPS estimates ranging from $1.64 to $1.75. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for CubeSmart.

How to Become a New Pot Stock Millionaire

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

A number of analysts have recently commented on the company. Cantor Fitzgerald set a $31.00 price target on CubeSmart and gave the company a “buy” rating in a research note on Friday, March 9th. 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. B. Riley set a $32.00 price objective on CubeSmart and gave the company a “buy” rating in a research report on Tuesday, January 2nd. SunTrust Banks set a $31.00 price objective on CubeSmart and gave the company a “hold” rating in a research report on Monday, January 22nd. Finally, BMO Capital Markets set a $27.00 price objective on CubeSmart and gave the company a “hold” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $30.00.

In other CubeSmart news, CFO Timothy M. Martin sold 57,746 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 211,694 shares of the company’s stock, valued at approximately $6,225,920.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher P. Marr sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.33, for a total value of $175,980.00. Following the transaction, the chief executive officer now directly 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. 1.20% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in CUBE. Cohen & Steers Inc. boosted 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 last quarter. Millennium Management LLC boosted its position in CubeSmart by 76.0% during the 4th quarter. Millennium Management LLC now owns 4,535,494 shares of the real estate investment trust’s stock worth $131,166,000 after acquiring an additional 1,958,563 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new position in CubeSmart during the 4th quarter worth approximately $37,595,000. Citadel Advisors LLC boosted its position in CubeSmart by 287.3% during the 3rd quarter. Citadel Advisors LLC now owns 1,564,845 shares of the real estate investment trust’s stock worth $40,623,000 after acquiring an additional 1,160,777 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted 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 last quarter.

Shares of CubeSmart (NYSE CUBE) opened at $27.88 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market capitalization of $5,040.00, a PE ratio of 37.68, a PEG ratio of 3.58 and a beta of 0.17. CubeSmart has a 52 week low of $22.83 and a 52 week high of $29.79.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a $0.30 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.20 annualized dividend and a dividend yield of 4.30%. CubeSmart’s dividend payout ratio is presently 162.16%.

COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Anticipate CubeSmart (NYSE:CUBE) to Announce $0.39 Earnings Per Share” was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2018/03/14/zacks-brokerages-anticipate-cubesmart-nysecube-to-announce-0-39-earnings-per-share.html.

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.

Get a free copy of the Zacks research report on CubeSmart (CUBE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.