CubeSmart (NYSE:CUBE) – Stock analysts at B. Riley lowered their Q3 2018 EPS estimates for shares of CubeSmart in a report issued on Tuesday. B. Riley analyst D. Corak now forecasts that the real estate investment trust will post earnings per share of $0.42 for the quarter, down from their prior estimate of $0.43. B. Riley currently has a “Buy” rating and a $32.00 target price on the stock. B. Riley also issued estimates for CubeSmart’s FY2018 earnings at $1.62 EPS, Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.68 EPS.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Group set a $33.00 price target on CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 28th. Robert W. Baird cut CubeSmart from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $27.00 to $29.00 in a research report on Tuesday, November 28th. BidaskClub upgraded CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Finally, SunTrust Banks reiterated a “hold” rating and set a $25.00 price target on shares of CubeSmart in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.00.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cohen & Steers Inc. boosted its stake in shares of CubeSmart by 349.3% in the third quarter. Cohen & Steers Inc. now owns 13,828,409 shares of the real estate investment trust’s stock worth $358,985,000 after acquiring an additional 10,750,476 shares during the last quarter. BlackRock Inc. boosted its stake in shares of CubeSmart by 5.4% in the second quarter. BlackRock Inc. now owns 12,780,418 shares of the real estate investment trust’s stock worth $307,242,000 after acquiring an additional 650,691 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of CubeSmart by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 12,630,827 shares of the real estate investment trust’s stock worth $327,897,000 after acquiring an additional 958,151 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of CubeSmart by 5.2% in the third quarter. Principal Financial Group Inc. now owns 7,403,963 shares of the real estate investment trust’s stock worth $192,207,000 after acquiring an additional 363,927 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of CubeSmart by 43,425.1% in the third quarter. Daiwa Securities Group Inc. now owns 7,094,592 shares of the real estate investment trust’s stock worth $184,176,000 after acquiring an additional 7,078,292 shares during the last quarter.
In other CubeSmart news, CEO Christopher P. Marr sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.33, for a total value of $175,980.00. Following the sale, the chief executive officer now directly owns 410,138 shares of the company’s stock, valued at $12,029,347.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy M. Martin sold 83,409 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total value of $2,445,551.88. Following the completion of the sale, the chief financial officer now directly owns 228,948 shares in the company, valued at $6,712,755.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,425 shares of company stock valued at $4,915,172. 1.20% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.30 per share. This is a boost from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Friday, December 29th. CubeSmart’s dividend payout ratio (DPR) is currently 181.82%.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.chaffeybreeze.com/2018/01/05/b-riley-weighs-in-on-cubesmarts-q3-2018-earnings-cube.html.
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.
Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.