CubeSmart (NYSE:CUBE) - Stock analysts at Truist Securiti increased their FY2020 earnings estimates for CubeSmart in a research note issued to investors on Monday, October 26th. Truist Securiti analyst K. Kim now forecasts that the real estate investment trust will post earnings of $1.65 per share for the year, up from their prior forecast of $1.63. Truist Securiti also issued estimates for CubeSmart's Q4 2020 earnings at $0.42 EPS, FY2021 earnings at $1.72 EPS, FY2022 earnings at $1.79 EPS, FY2023 earnings at $1.89 EPS and FY2024 earnings at $1.99 EPS.
CUBE has been the subject of a number of other research reports. Bank of America upgraded CubeSmart from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $29.00 to $32.00 in a research report on Wednesday, August 12th. BMO Capital Markets initiated coverage on CubeSmart in a research report on Tuesday, July 21st. They issued a "sell" rating and a $30.00 target price for the company. Zacks Investment Research downgraded CubeSmart from a "buy" rating to a "hold" rating in a research report on Thursday, October 8th. BofA Securities upgraded CubeSmart from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $29.00 to $32.00 in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group upgraded CubeSmart from a "hold" rating to a "buy" rating and set a $42.00 target price for the company in a research report on Tuesday, October 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. CubeSmart has an average rating of "Hold" and an average price target of $31.17.
NYSE:CUBE opened at $34.55 on Tuesday. The business has a 50 day moving average of $33.14 and a 200 day moving average of $29.21. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 15.04 and a beta of 0.32. CubeSmart has a 1-year low of $19.61 and a 1-year high of $35.22. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.39 by ($0.19). The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $162.55 million. CubeSmart had a return on equity of 8.94% and a net margin of 24.34%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 annualized dividend and a dividend yield of 3.82%. CubeSmart's dividend payout ratio (DPR) is presently 78.11%.
In other news, Director Marianne M. Keler sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $31.45, for a total transaction of $314,500.00. Following the transaction, the director now directly owns 47,292 shares of the company's stock, valued at $1,487,333.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.11% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in CubeSmart by 3,943.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,213 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 1,183 shares during the period. Ensign Peak Advisors Inc purchased a new stake in CubeSmart in the second quarter worth $120,000. Demars Financial Group LLC purchased a new stake in CubeSmart in the second quarter worth $126,000. IBM Retirement Fund purchased a new stake in CubeSmart in the third quarter worth $203,000. Finally, First Hawaiian Bank purchased a new stake in CubeSmart in the third quarter worth $230,000. 98.44% of the stock is currently owned by hedge funds and other institutional investors.
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 2020 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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