CubeSmart (NYSE:CUBE) – DA Davidson lowered their Q1 2018 earnings estimates for CubeSmart in a report issued on Friday. DA Davidson analyst B. Oxford now forecasts that the real estate investment trust will earn $0.39 per share for the quarter, down from their previous estimate of $0.40. DA Davidson also issued estimates for CubeSmart’s Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.43 EPS, Q1 2019 earnings at $0.42 EPS and Q4 2019 earnings at $0.46 EPS.
Several other research firms also recently weighed in on CUBE. Cantor Fitzgerald reissued a “buy” rating and set a $31.00 target price on shares of CubeSmart in a research report on Thursday, February 15th. Zacks Investment Research downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Robert W. Baird downgraded shares of CubeSmart from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $27.00 to $29.00 in a research report on Tuesday, November 28th. B. Riley reissued a “buy” rating on shares of CubeSmart in a research report on Wednesday, November 1st. Finally, BidaskClub raised shares of CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. CubeSmart currently has a consensus rating of “Hold” and an average price target of $29.82.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $143.48 million for the quarter, compared to the consensus estimate of $143.18 million. CubeSmart had a net margin of 24.02% and a return on equity of 8.40%. CubeSmart’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, March 29th. CubeSmart’s payout ratio is 160.00%.
In related news, CFO Timothy M. Martin sold 83,409 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 228,948 shares in the company, valued at approximately $6,712,755.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher P. Marr sold 6,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $29.33, for a total transaction of $175,980.00. Following the completion of the transaction, the chief executive officer now owns 410,138 shares of the company’s stock, valued at $12,029,347.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,425 shares of company stock valued at $4,915,172. Company insiders own 1.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CUBE. Cohen & Steers Inc. lifted its stake in shares of CubeSmart by 349.3% in the 3rd quarter. Cohen & Steers Inc. now owns 13,828,409 shares of the real estate investment trust’s stock valued at $358,985,000 after purchasing an additional 10,750,476 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of CubeSmart by 43,425.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,094,592 shares of the real estate investment trust’s stock valued at $184,176,000 after purchasing an additional 7,078,292 shares during the period. Millennium Management LLC lifted its stake in shares of CubeSmart by 76.0% in the 4th quarter. Millennium Management LLC now owns 4,535,494 shares of the real estate investment trust’s stock valued at $131,166,000 after purchasing an additional 1,958,563 shares during the period. American Century Companies Inc. acquired a new position in shares of CubeSmart in the 3rd quarter valued at $47,549,000. Finally, Heitman Real Estate Securities LLC acquired a new position in shares of CubeSmart in the 4th quarter valued at $37,595,000.
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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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