$163.76 Million in Sales Expected for CubeSmart (NYSE:CUBE) This Quarter

Equities research analysts predict that CubeSmart (NYSE:CUBE) will report $163.76 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for CubeSmart’s earnings, with the highest sales estimate coming in at $170.16 million and the lowest estimate coming in at $158.40 million. CubeSmart reported sales of $159.02 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3%. The business is expected to issue its next earnings results on Thursday, July 23rd.

According to Zacks, analysts expect that CubeSmart will report full year sales of $660.54 million for the current year, with estimates ranging from $649.06 million to $671.99 million. For the next fiscal year, analysts forecast that the business will post sales of $672.93 million, with estimates ranging from $642.81 million to $685.64 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CubeSmart.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.20). CubeSmart had a return on equity of 9.53% and a net margin of 26.18%. The business had revenue of $164.08 million during the quarter, compared to analysts’ expectations of $162.56 million. During the same period in the prior year, the company posted $0.40 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. Raymond James downgraded CubeSmart from a “strong-buy” rating to an “outperform” rating in a research note on Sunday, April 19th. Stifel Nicolaus lowered their price objective on CubeSmart from $32.00 to $21.00 and set a “hold” rating on the stock in a report on Tuesday, March 24th. TheStreet lowered CubeSmart from a “b-” rating to a “c+” rating in a report on Wednesday, April 8th. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a report on Monday, May 25th. Finally, Wells Fargo & Co lowered their price objective on CubeSmart from $28.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday, April 2nd. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.33.

Several institutional investors have recently bought and sold shares of CUBE. First Trust Advisors LP lifted its position in shares of CubeSmart by 262.3% during the 1st quarter. First Trust Advisors LP now owns 140,560 shares of the real estate investment trust’s stock worth $4,504,000 after buying an additional 101,763 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of CubeSmart during the 4th quarter worth approximately $209,000. Victory Capital Management Inc. lifted its position in shares of CubeSmart by 19.0% during the 4th quarter. Victory Capital Management Inc. now owns 47,162 shares of the real estate investment trust’s stock worth $1,494,000 after buying an additional 7,521 shares during the period. Rhumbline Advisers lifted its position in shares of CubeSmart by 4.8% during the 4th quarter. Rhumbline Advisers now owns 273,649 shares of the real estate investment trust’s stock worth $8,614,000 after buying an additional 12,580 shares during the period. Finally, American International Group Inc. raised its position in CubeSmart by 151.4% in the 4th quarter. American International Group Inc. now owns 7,830 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 4,716 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Shares of CUBE traded down $0.65 during midday trading on Friday, reaching $26.31. 1,991,860 shares of the stock were exchanged, compared to its average volume of 1,671,234. CubeSmart has a 12-month low of $19.61 and a 12-month high of $36.32. The firm has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $28.72. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.08. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 7.73 and a beta of 0.29.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Tuesday, June 30th. CubeSmart’s payout ratio is presently 78.11%.

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 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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