CubeSmart (CUBE) Expected to Post Quarterly Sales of $141.93 Million
Brokerages forecast that CubeSmart (NYSE:CUBE) will announce sales of $141.93 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for CubeSmart’s earnings. The highest sales estimate is $146.17 million and the lowest is $135.72 million. CubeSmart posted sales of $132.55 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 15th.
According to Zacks, analysts expect that CubeSmart will report full-year sales of $141.93 million for the current financial year, with estimates ranging from $538.68 million to $561.63 million. For the next year, analysts expect that the firm will report sales of $589.36 million per share, with estimates ranging from $559.96 million to $618.69 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CubeSmart.
A number of research analysts recently commented on CUBE shares. B. Riley reiterated a “buy” rating on shares of CubeSmart in a research note on Wednesday, November 1st. BidaskClub upgraded shares of CubeSmart from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Zacks Investment Research lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. downgraded shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $27.00 target price on shares of CubeSmart in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.10.
Shares of CubeSmart (NYSE:CUBE) opened at $29.07 on Thursday. The firm has a market capitalization of $5,283.55, a P/E ratio of 18.84, a P/E/G ratio of 3.77 and a beta of 0.20. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00. CubeSmart has a fifty-two week low of $22.83 and a fifty-two week high of $29.67.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC grew its position in CubeSmart by 9.5% in the first quarter. Teachers Advisors LLC now owns 241,560 shares of the real estate investment trust’s stock worth $6,271,000 after buying an additional 20,946 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of CubeSmart by 31.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,306 shares during the period. UBS Group AG boosted its position in CubeSmart by 137.6% in the first quarter. UBS Group AG now owns 19,029 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 11,020 shares in the last quarter. Bank of Montreal Can raised its stake in shares of CubeSmart by 154.7% during the second quarter. Bank of Montreal Can now owns 200,469 shares of the real estate investment trust’s stock worth $4,820,000 after buying an additional 121,760 shares during the last quarter. Finally, Sit Investment Associates Inc. bought a new stake in CubeSmart in the second quarter valued at approximately $13,814,000.
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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