Equities research analysts expect CubeSmart (NYSE:CUBE) to post sales of $150.49 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for CubeSmart’s earnings. The highest sales estimate is $155.51 million and the lowest is $145.69 million. CubeSmart posted sales of $143.87 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The firm is scheduled to announce its next earnings report on Thursday, October 25th.

On average, analysts expect that CubeSmart will report full year sales of $586.37 million for the current year, with estimates ranging from $574.63 million to $602.40 million. For the next financial year, analysts anticipate that the business will report sales of $621.05 million per share, with estimates ranging from $599.00 million to $656.81 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover CubeSmart.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. The company had revenue of $147.82 million during the quarter, compared to the consensus estimate of $148.68 million. CubeSmart had a return on equity of 9.22% and a net margin of 25.89%. CubeSmart’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.39 earnings per share.

A number of brokerages recently commented on CUBE. Citigroup increased their price target on CubeSmart from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 12th. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Wednesday, July 4th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $37.00 price target for the company. in a research report on Tuesday, July 17th. Bank of America increased their price target on CubeSmart from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Finally, Evercore ISI downgraded CubeSmart from an “outperform” rating to an “in-line” rating in a research report on Monday, July 16th. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $32.36.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in CubeSmart by 4.1% during the second quarter. BlackRock Inc. now owns 13,629,625 shares of the real estate investment trust’s stock valued at $439,146,000 after purchasing an additional 537,665 shares during the period. Cbre Clarion Securities LLC grew its holdings in CubeSmart by 11.5% during the second quarter. Cbre Clarion Securities LLC now owns 8,474,692 shares of the real estate investment trust’s stock valued at $273,055,000 after purchasing an additional 875,279 shares during the period. Centersquare Investment Management LLC bought a new position in CubeSmart during the first quarter valued at $230,409,000. Dimensional Fund Advisors LP grew its holdings in CubeSmart by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,807,221 shares of the real estate investment trust’s stock valued at $90,451,000 after purchasing an additional 16,281 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in CubeSmart by 5.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,375,763 shares of the real estate investment trust’s stock valued at $76,548,000 after purchasing an additional 125,017 shares during the period.

Shares of CUBE opened at $31.75 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market cap of $5.65 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 3.70 and a beta of 0.07. CubeSmart has a 12 month low of $23.46 and a 12 month high of $33.18.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.78%. The ex-dividend date is Friday, September 28th. CubeSmart’s dividend payout ratio (DPR) is 75.47%.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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