CubeSmart (NYSE:CUBE) will issue its quarterly earnings data after the market closes on Thursday, July 29th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.
CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.24). CubeSmart had a net margin of 24.07% and a return on equity of 9.39%. On average, analysts expect CubeSmart to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
CubeSmart stock opened at $47.58 on Thursday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 54.69, a price-to-earnings-growth ratio of 5.01 and a beta of 0.25. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a fifty-two week low of $27.13 and a fifty-two week high of $49.00. The stock's fifty day moving average price is $45.78.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Wednesday, June 30th. CubeSmart's dividend payout ratio is 79.07%.
CUBE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of CubeSmart from $39.00 to $48.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 30th. Zacks Investment Research raised shares of CubeSmart from a "hold" rating to a "buy" rating and set a $53.00 target price for the company in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of CubeSmart from $34.00 to $36.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 2nd. BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $45.00 to $47.00 in a research report on Friday, May 14th. Finally, Citigroup boosted their target price on shares of CubeSmart from $44.50 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, July 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of "Hold" and a consensus target price of $41.91.
In related news, CEO Christopher P. Marr sold 6,769 shares of the company's stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $42.37, for a total value of $286,802.53. Following the sale, the chief executive officer now owns 472,083 shares of the company's stock, valued at $20,002,156.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joel D. Keaton sold 15,132 shares of the company's stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $41.50, for a total transaction of $627,978.00. Following the completion of the sale, the chief operating officer now directly owns 58,294 shares in the company, valued at approximately $2,419,201. The disclosure for this sale can be found here. Insiders have sold 45,265 shares of company stock valued at $1,893,265 in the last ninety days. 1.28% of the stock is owned by company insiders.
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.
Recommended Story: Institutional Investors
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider CubeSmart, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CubeSmart wasn't on the list.
While CubeSmart currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here