Cantor Fitzgerald Research Analysts Lower Earnings Estimates for CubeSmart (CUBE)
CubeSmart (NYSE:CUBE) – Equities researchers at Cantor Fitzgerald cut their FY2018 earnings estimates for shares of CubeSmart in a research note issued to investors on Sunday. Cantor Fitzgerald analyst G. Mehta now anticipates that the real estate investment trust will post earnings per share of $1.63 for the year, down from their prior estimate of $1.64. Cantor Fitzgerald currently has a “Buy” rating and a $31.00 target price on the stock.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $143.48 million for the quarter, compared to analysts’ expectations of $143.18 million. CubeSmart had a net margin of 24.02% and a return on equity of 8.39%. CubeSmart’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS.
CubeSmart (NYSE:CUBE) traded up $0.06 during trading hours on Wednesday, hitting $28.04. 38,541 shares of the company were exchanged, compared to its average volume of 1,547,978. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $5,118.36, a PE ratio of 17.77, a PEG ratio of 3.58 and a beta of 0.17. CubeSmart has a 52 week low of $22.83 and a 52 week high of $29.79.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CUBE. American International Group Inc. purchased a new position in shares of CubeSmart during the 4th quarter valued at $119,000. The Manufacturers Life Insurance Company grew its position in shares of CubeSmart by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 370 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of CubeSmart during the 3rd quarter valued at $211,000. Comerica Bank purchased a new position in shares of CubeSmart during the 3rd quarter valued at $220,000. Finally, Shelton Capital Management purchased a new position in shares of CubeSmart during the 4th quarter valued at $249,000.
In other CubeSmart news, SVP Jonathan L. Perry sold 20,270 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $29.37, for a total transaction of $595,329.90. Following the sale, the senior vice president now owns 67,197 shares of the company’s stock, valued at approximately $1,973,575.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy M. Martin sold 57,746 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $29.41, for a total transaction of $1,698,309.86. Following the sale, the chief financial officer now directly owns 211,694 shares in the company, valued at approximately $6,225,920.54. The disclosure for this sale can be found here. Insiders have sold a total of 84,016 shares of company stock worth $2,469,620 in the last three months. Insiders own 1.20% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a yield of 4.28%. CubeSmart’s payout ratio is 160.00%.
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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