Zacks: Brokerages Anticipate CubeSmart (NYSE:CUBE) to Announce $0.39 Earnings Per Share
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.
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.
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%.
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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