CubeSmart (CUBE) To Go Ex-Dividend on January 2nd

CubeSmart (NYSE:CUBE) announced a quarterly dividend on Monday, December 15th. Shareholders of record on Friday, January 2nd will be paid a dividend of 0.53 per share by the real estate investment trust on Friday, January 16th. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, January 2nd. This is a 1.9% increase from CubeSmart’s previous quarterly dividend of $0.52.

CubeSmart has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 16 years. CubeSmart has a dividend payout ratio of 135.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CubeSmart to earn $2.69 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 78.8%.

CubeSmart Trading Down 0.6%

Shares of NYSE:CUBE traded down $0.22 during midday trading on Wednesday, reaching $36.09. The company’s stock had a trading volume of 105,973 shares, compared to its average volume of 1,813,741. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a 50 day moving average price of $37.17 and a two-hundred day moving average price of $39.66. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 7.97 and a beta of 1.11.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. The firm had revenue of $285.08 million for the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. As a group, analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.