CubeSmart (CUBE) to Issue Quarterly Dividend of $0.53 on October 15th

CubeSmart (NYSE:CUBE) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Thursday, October 1st will be paid a dividend of 0.53 per share by the real estate investment trust on Thursday, October 15th. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, October 1st.

CubeSmart has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 16 years. CubeSmart has a 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. Equities analysts expect CubeSmart to earn $2.60 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 81.5%.

CubeSmart Stock Down 0.2%

Shares of CubeSmart stock opened at $42.39 on Thursday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.29. CubeSmart has a 52-week low of $35.09 and a 52-week high of $43.26. The company has a market capitalization of $9.60 billion, a P/E ratio of 29.85, a P/E/G ratio of 7.35 and a beta of 1.08. The company has a 50 day moving average of $40.74 and a 200 day moving average of $39.49.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $281.93 million for the quarter, compared to analyst estimates of $275.25 million. CubeSmart had a net margin of 28.93% and a return on equity of 11.84%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, research analysts forecast that CubeSmart will post 2.58 EPS for the current fiscal year.

Institutional Trading of CubeSmart

Several institutional investors and hedge funds have recently made changes to their positions in CUBE. Cetera Investment Advisers grew its stake in CubeSmart by 1.6% during the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock worth $731,000 after buying an additional 265 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of CubeSmart by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,964 shares of the real estate investment trust’s stock valued at $255,000 after acquiring an additional 269 shares during the period. Fifth Third Bancorp boosted its holdings in shares of CubeSmart by 12.5% in the first quarter. Fifth Third Bancorp now owns 2,608 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 289 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of CubeSmart by 15.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,204 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 295 shares during the period. Finally, Pacific Sun Financial Corp grew its position in shares of CubeSmart by 6.6% during the third quarter. Pacific Sun Financial Corp now owns 5,022 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 310 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

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.