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

Analysts expect that CubeSmart (NYSE:CUBE) will announce sales of $163.76 million for the current quarter, Zacks reports. Six analysts have provided estimates for CubeSmart’s earnings, with estimates ranging from $158.40 million to $170.16 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 company is scheduled to report its next earnings report on Thursday, July 23rd.

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

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

Several equities analysts have recently weighed in on the company. SunTrust Banks decreased their target price on CubeSmart from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Friday, April 17th. Stifel Nicolaus reduced their price objective on CubeSmart from $32.00 to $21.00 and set a “hold” rating on the stock in a research report on Tuesday, March 24th. TheStreet downgraded CubeSmart from a “b-” rating to a “c+” rating in a research report on Wednesday, April 8th. Raymond James downgraded CubeSmart from a “strong-buy” rating to an “outperform” rating in a research report on Sunday, April 19th. Finally, Citigroup reduced their price objective on CubeSmart from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Five equities 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 stock has a consensus rating of “Hold” and a consensus price target of $29.33.

Hedge funds have recently bought and sold shares of the business. Capital Square LLC acquired a new stake in CubeSmart during the first quarter worth $27,000. Van ECK Associates Corp acquired a new stake in shares of CubeSmart in the fourth quarter valued at $36,000. Tower Research Capital LLC TRC grew its stake in shares of CubeSmart by 3,943.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,213 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,183 shares in the last quarter. CWM Advisors LLC acquired a new stake in shares of CubeSmart in the first quarter valued at $46,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of CubeSmart in the fourth quarter valued at $71,000. 96.64% of the stock is owned by institutional investors.

Shares of NYSE CUBE traded down $0.65 during midday trading on Friday, hitting $26.31. The stock had a trading volume of 1,991,860 shares, compared to its average volume of 1,671,234. The company has a market capitalization of $5.22 billion, a PE ratio of 29.23, a P/E/G ratio of 7.73 and a beta of 0.29. The stock has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $28.72. CubeSmart has a 1 year low of $19.61 and a 1 year high of $36.32. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.32 annualized dividend and a yield of 5.02%. CubeSmart’s dividend payout ratio (DPR) is 78.11%.

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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