$224.18 Million in Sales Expected for CubeSmart (NYSE:CUBE) This Quarter

Wall Street brokerages expect that CubeSmart (NYSE:CUBE) will post sales of $224.18 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for CubeSmart’s earnings. The highest sales estimate is $237.15 million and the lowest is $214.90 million. CubeSmart reported sales of $178.79 million in the same quarter last year, which indicates a positive year-over-year growth rate of 25.4%. The firm is scheduled to issue its next earnings results on Thursday, February 24th.

On average, analysts expect that CubeSmart will report full year sales of $812.37 million for the current financial year, with estimates ranging from $785.40 million to $837.80 million. For the next fiscal year, analysts expect that the business will post sales of $948.10 million, with estimates ranging from $840.44 million to $1.04 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for CubeSmart.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, November 4th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.10). The company had revenue of $212.56 million during the quarter, compared to analyst estimates of $206.64 million. CubeSmart had a net margin of 28.28% and a return on equity of 11.73%. CubeSmart’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS.

Several research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of CubeSmart in a research report on Friday, November 5th. Truist Securities raised their price objective on CubeSmart from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Thursday, December 2nd. Truist raised their price objective on CubeSmart from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, December 2nd. Berenberg Bank began coverage on CubeSmart in a research note on Thursday, October 7th. They set a “hold” rating and a $52.00 price objective on the stock. Finally, Raymond James upgraded CubeSmart from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Thursday, December 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.56.

Several hedge funds and other institutional investors have recently made changes to their positions in CUBE. Evoke Wealth LLC purchased a new stake in CubeSmart in the third quarter worth approximately $27,000. Farmers & Merchants Investments Inc. bought a new stake in CubeSmart in the 3rd quarter valued at $30,000. Danda Trouve Investment Management Inc. bought a new stake in CubeSmart in the 3rd quarter valued at $33,000. Rockefeller Capital Management L.P. increased its holdings in CubeSmart by 60.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 997 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 374 shares during the last quarter. Finally, Annapolis Financial Services LLC bought a new stake in shares of CubeSmart in the 3rd quarter worth about $48,000. 86.51% of the stock is owned by institutional investors and hedge funds.

NYSE CUBE traded down $1.02 on Tuesday, reaching $51.07. The company had a trading volume of 57,596 shares, compared to its average volume of 2,369,149. CubeSmart has a 52 week low of $33.42 and a 52 week high of $57.34. The stock’s 50 day moving average is $54.57 and its 200-day moving average is $52.10. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.97 and a beta of 0.38. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.13.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd will be issued a $0.43 dividend. The ex-dividend date is Friday, December 31st. This is a positive change from CubeSmart’s previous quarterly dividend of $0.34. This represents a $1.72 annualized dividend and a yield of 3.37%. CubeSmart’s dividend payout ratio (DPR) is 156.36%.

About CubeSmart

CubeSmart operates as a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.

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