CubeSmart (NYSE:CUBE) declared a quarterly dividend on Wednesday, February 15th. Shareholders of record on Monday, April 3rd will be paid a dividend of 0.27 per share by the real estate investment trust on Monday, April 17th. This represents a $1.08 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Thursday, March 30th.
CubeSmart has raised its dividend by an average of 24.1% annually over the last three years and has raised its dividend every year for the last 5 years. CubeSmart has a dividend payout ratio of 69.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CubeSmart to earn $0.67 per share next year, which means the company may not be able to cover its $1.08 annual dividend with an expected future payout ratio of 161.2%.
Shares of CubeSmart (NYSE:CUBE) traded down 0.65% during trading on Friday, reaching $27.62. 482,589 shares of the company’s stock were exchanged. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 61.65 and a beta of 0.27. CubeSmart has a 12 month low of $23.65 and a 12 month high of $32.78. The stock has a 50-day moving average price of $26.64 and a 200 day moving average price of $26.04.
CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, February 16th. The real estate investment trust reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. CubeSmart had a return on equity of 5.84% and a net margin of 19.93%. The company had revenue of $132.50 million for the quarter, compared to the consensus estimate of $131.57 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, analysts forecast that CubeSmart will post $0.63 EPS for the current year.
A number of equities research analysts have commented on CUBE shares. BMO Capital Markets restated a “buy” rating and issued a $29.00 target price on shares of CubeSmart in a research report on Thursday, January 12th. Zacks Investment Research downgraded CubeSmart from a “hold” rating to a “sell” rating in a research report on Tuesday, February 14th. Bank of America Corp downgraded CubeSmart from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Friday, January 20th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $31.00 price objective on shares of CubeSmart in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.50.
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CubeSmart Company Profile
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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