Brokerages Anticipate CubeSmart (NYSE:CUBE) to Post $0.42 Earnings Per Share

Equities analysts predict that CubeSmart (NYSE:CUBE) will announce earnings of $0.42 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CubeSmart’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.43. CubeSmart also posted earnings of $0.42 per share in the same quarter last year. The firm is expected to issue its next quarterly earnings report on Thursday, February 20th.

According to Zacks, analysts expect that CubeSmart will report full year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.67 to $1.69. For the next year, analysts anticipate that the business will post earnings of $1.72 per share, with EPS estimates ranging from $1.70 to $1.75. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for CubeSmart.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.21). The business had revenue of $166.55 million during the quarter, compared to the consensus estimate of $164.01 million. CubeSmart had a net margin of 28.58% and a return on equity of 9.98%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share.

Several research firms recently issued reports on CUBE. Cfra cut CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Robert W. Baird set a $35.00 price objective on CubeSmart and gave the company a “hold” rating in a research report on Wednesday, August 21st. Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus began coverage on CubeSmart in a research report on Monday, August 19th. They issued a “hold” rating and a $35.00 price objective on the stock. Finally, Raymond James raised CubeSmart from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $38.00 to $38.50 in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.50.

CUBE stock traded down $0.62 during midday trading on Monday, hitting $30.22. The company’s stock had a trading volume of 1,053,301 shares, compared to its average volume of 1,380,749. The company has a market cap of $5.88 billion, a PE ratio of 18.43, a P/E/G ratio of 5.44 and a beta of 0.09. CubeSmart has a 12 month low of $27.97 and a 12 month high of $36.32. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average is $32.01 and its 200-day moving average is $33.90.

In other CubeSmart news, CEO Christopher P. Marr sold 79,888 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $36.15, for a total transaction of $2,887,951.20. Following the completion of the sale, the chief executive officer now directly owns 403,687 shares in the company, valued at approximately $14,593,285.05. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.04% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CUBE. Garrett Wealth Advisory Group LLC purchased a new stake in shares of CubeSmart in the 3rd quarter worth $27,000. Zions Bancorporation N.A. purchased a new stake in shares of CubeSmart in the 2nd quarter worth $32,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of CubeSmart in the 2nd quarter worth $51,000. NEXT Financial Group Inc increased its stake in shares of CubeSmart by 190.0% in the 3rd quarter. NEXT Financial Group Inc now owns 1,450 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 950 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of CubeSmart by 29.3% in the 2nd quarter. Advisory Services Network LLC now owns 1,939 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 98.01% of the company’s stock.

About CubeSmart

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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