B. Riley Weighs in on CubeSmart’s Q3 2018 Earnings (CUBE)

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.

Shares of CubeSmart (NYSE:CUBE) traded down $0.88 during trading hours on Wednesday, hitting $28.09. The stock had a trading volume of 2,136,200 shares, compared to its average volume of 1,612,200. CubeSmart has a 1 year low of $22.83 and a 1 year high of $29.79. The stock has a market capitalization of $5,240.13, a PE ratio of 42.56, a price-to-earnings-growth ratio of 3.56 and a beta of 0.22. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.07 and a current ratio of 0.07.

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%.

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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.

Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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