Analysts expect that CubeSmart (NYSE:CUBE) will post $163.21 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for CubeSmart’s earnings, with the highest sales estimate coming in at $166.20 million and the lowest estimate coming in at $160.36 million. CubeSmart reported sales of $153.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.4%. The business is scheduled to issue its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that CubeSmart will report full year sales of $635.22 million for the current year, with estimates ranging from $622.00 million to $646.86 million. For the next year, analysts anticipate that the business will report sales of $665.17 million, with estimates ranging from $645.87 million to $687.63 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for CubeSmart.
CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.15). The firm had revenue of $159.00 million for the quarter, compared to analyst estimates of $158.86 million. CubeSmart had a net margin of 29.33% and a return on equity of 10.19%. CubeSmart’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share.
CubeSmart stock traded up $0.22 during trading hours on Friday, reaching $35.26. 1,608,312 shares of the company’s stock traded hands, compared to its average volume of 1,347,073. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.09 and a quick ratio of 0.09. CubeSmart has a fifty-two week low of $27.19 and a fifty-two week high of $35.36. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 6.30 and a beta of 0.19. The business’s 50 day moving average price is $34.13.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.63%. CubeSmart’s dividend payout ratio is presently 78.05%.
Several large investors have recently added to or reduced their stakes in CUBE. FMR LLC lifted its holdings in shares of CubeSmart by 1,578.5% during the first quarter. FMR LLC now owns 10,155,446 shares of the real estate investment trust’s stock worth $325,381,000 after buying an additional 9,550,430 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of CubeSmart by 8.4% during the first quarter. Principal Financial Group Inc. now owns 7,225,406 shares of the real estate investment trust’s stock worth $231,503,000 after purchasing an additional 559,895 shares during the last quarter. PGGM Investments grew its holdings in shares of CubeSmart by 165.5% during the first quarter. PGGM Investments now owns 4,620,470 shares of the real estate investment trust’s stock worth $148,040,000 after purchasing an additional 2,880,470 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of CubeSmart by 8.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 3,346,133 shares of the real estate investment trust’s stock worth $107,210,000 after purchasing an additional 256,440 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CubeSmart by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,873,665 shares of the real estate investment trust’s stock worth $82,448,000 after purchasing an additional 56,689 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.
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 2019 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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