Equities analysts expect that CubeSmart (NYSE:CUBE) will announce earnings per share of $0.41 for the current quarter, Zacks reports. Five analysts have issued estimates for CubeSmart’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.41. CubeSmart reported earnings of $0.42 per share in the same quarter last year, which would indicate a negative year over year growth rate of 2.4%. The firm is expected to announce its next earnings report on Thursday, October 25th.

On average, analysts expect that CubeSmart will report full year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.61 to $1.64. For the next year, analysts forecast that the business will report earnings of $1.69 per share, with EPS estimates ranging from $1.65 to $1.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for CubeSmart.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The firm had revenue of $147.82 million for the quarter, compared to analyst estimates of $148.68 million. CubeSmart had a net margin of 25.89% and a return on equity of 9.22%. CubeSmart’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share.

Several equities research analysts recently weighed in on the stock. SunTrust Banks set a $32.00 price objective on shares of CubeSmart and gave the stock a “hold” rating in a research note on Tuesday, August 7th. ValuEngine lowered shares of CubeSmart from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BMO Capital Markets reiterated a “buy” rating and set a $32.00 price objective on shares of CubeSmart in a research note on Friday, July 27th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, July 17th. Finally, Bank of America increased their price objective on shares of CubeSmart from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. CubeSmart presently has a consensus rating of “Hold” and an average target price of $32.36.

Several large investors have recently made changes to their positions in CUBE. Sun Life Financial INC acquired a new stake in shares of CubeSmart in the second quarter valued at approximately $118,000. Centaurus Financial Inc. acquired a new stake in shares of CubeSmart in the second quarter valued at approximately $154,000. PNC Financial Services Group Inc. increased its stake in shares of CubeSmart by 198.0% in the second quarter. PNC Financial Services Group Inc. now owns 5,548 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 3,686 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of CubeSmart in the second quarter valued at approximately $208,000. Finally, Clinton Group Inc. acquired a new stake in shares of CubeSmart in the first quarter valued at approximately $221,000.

CUBE traded up $0.45 on Friday, hitting $31.74. 121,912 shares of the company’s stock were exchanged, compared to its average volume of 1,430,430. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.70 and a beta of 0.07. CubeSmart has a twelve month low of $23.46 and a twelve month high of $33.18. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.94.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a $0.30 dividend. The ex-dividend date is Friday, September 28th. This represents a $1.20 annualized dividend and a dividend yield of 3.78%. CubeSmart’s payout ratio is currently 75.47%.

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 2018 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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