CubeSmart (NYSE:CUBE) Updates Q1 2020 After-Hours Earnings Guidance

CubeSmart (NYSE:CUBE) issued an update on its first quarter 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.40-0.41 for the period. CubeSmart also updated its FY 2020
After-Hours guidance to 1.67-1.71 EPS.

NYSE:CUBE traded up $0.61 during mid-day trading on Friday, hitting $32.26. The stock had a trading volume of 2,677,819 shares, compared to its average volume of 1,527,250. CubeSmart has a twelve month low of $29.26 and a twelve month high of $36.32. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 5.66 and a beta of 0.16. The company’s 50 day simple moving average is $31.64 and its 200 day simple moving average is $32.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.09 and a current ratio of 0.09.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.32 annualized dividend and a yield of 4.09%. CubeSmart’s dividend payout ratio (DPR) is currently 78.11%.

CUBE has been the subject of several recent analyst reports. Wells Fargo & Co downgraded shares of CubeSmart from a market perform rating to an underperform rating and set a $28.00 target price for the company. in a research note on Tuesday, December 10th. Bank of America downgraded shares of CubeSmart from a neutral rating to an underperform rating in a research note on Monday, January 6th. BMO Capital Markets downgraded shares of CubeSmart from a market perform rating to an underperform rating and set a $30.00 target price for the company. in a research note on Tuesday, January 7th. Cfra downgraded shares of CubeSmart from a hold rating to a sell rating in a research note on Monday, October 28th. Finally, Raymond James reiterated a buy rating and issued a $36.00 target price on shares of CubeSmart in a research note on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $33.00.

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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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