CubeSmart (CUBE) Expected to Post Quarterly Sales of $150.76 Million

Wall Street analysts forecast that CubeSmart (NYSE:CUBE) will announce sales of $150.76 million for the current quarter, according to Zacks. Five analysts have made estimates for CubeSmart’s earnings, with the highest sales estimate coming in at $155.51 million and the lowest estimate coming in at $145.69 million. CubeSmart reported sales of $143.87 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The company is scheduled to announce its next earnings results after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that CubeSmart will report full-year sales of $588.85 million for the current financial year, with estimates ranging from $573.15 million to $602.40 million. For the next year, analysts expect that the firm will report sales of $630.03 million, with estimates ranging from $598.14 million to $656.81 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for CubeSmart.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. CubeSmart had a net margin of 25.89% and a return on equity of 9.22%. The company had revenue of $147.82 million for the quarter, compared to the consensus estimate of $148.68 million. During the same quarter in the prior year, the company earned $0.39 EPS. CubeSmart’s quarterly revenue was up 6.7% on a year-over-year basis.

Several equities analysts recently weighed in on CUBE shares. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $37.00 price target on the stock. in a report on Tuesday, July 17th. BMO Capital Markets restated a “buy” rating and issued a $32.00 price objective on shares of CubeSmart in a research report on Friday, July 27th. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, July 4th. Citigroup lowered their price objective on CubeSmart from $33.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Bank of America upped their price objective on CubeSmart from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. CubeSmart has an average rating of “Buy” and an average target price of $32.64.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Westwood Holdings Group Inc. raised its stake in CubeSmart by 4.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 44,532 shares of the real estate investment trust’s stock valued at $1,256,000 after purchasing an additional 1,750 shares during the last quarter. United Capital Financial Advisers LLC raised its stake in CubeSmart by 13.3% in the 1st quarter. United Capital Financial Advisers LLC now owns 16,699 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 1,959 shares during the last quarter. BTIM Corp. raised its stake in CubeSmart by 0.4% in the 2nd quarter. BTIM Corp. now owns 733,189 shares of the real estate investment trust’s stock valued at $23,623,000 after purchasing an additional 3,053 shares during the last quarter. Swiss National Bank raised its stake in CubeSmart by 1.1% in the 2nd quarter. Swiss National Bank now owns 317,300 shares of the real estate investment trust’s stock valued at $10,223,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in CubeSmart by 18.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 23,537 shares of the real estate investment trust’s stock valued at $758,000 after purchasing an additional 3,604 shares during the last quarter.

Shares of NYSE:CUBE opened at $28.19 on Tuesday. CubeSmart has a twelve month low of $24.96 and a twelve month high of $33.18. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $5.30 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 3.48 and a beta of 0.07.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Friday, September 28th. CubeSmart’s dividend payout ratio is currently 75.47%.

CubeSmart Company Profile

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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