CubeSmart (NYSE:CUBE) issued its earnings results on Thursday. The real estate investment trust reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42, Briefing.com reports. CubeSmart had a net margin of 28.32% and a return on equity of 9.81%. The company had revenue of $134.74 million for the quarter, compared to the consensus estimate of $154.27 million. During the same period in the previous year, the firm earned $0.41 earnings per share. CubeSmart’s quarterly revenue was up 3.2% compared to the same quarter last year.
CubeSmart stock opened at $30.22 on Friday. The company has a market capitalization of $5.51 billion, a PE ratio of 17.94, a P/E/G ratio of 2.95 and a beta of 0.31. CubeSmart has a 1 year low of $26.55 and a 1 year high of $33.18. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.97.
Get CubeSmart alerts:The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Friday, March 29th.
CUBE has been the topic of a number of analyst reports. Zacks Investment Research raised shares of CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, December 11th. ValuEngine raised shares of CubeSmart from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Bank of America raised shares of CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 target price on the stock in a research note on Thursday, November 15th. Finally, BMO Capital Markets downgraded shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CubeSmart presently has an average rating of “Hold” and an average price target of $31.90.
Several institutional investors have recently added to or reduced their stakes in CUBE. Whittier Trust Co. purchased a new stake in shares of CubeSmart in the 4th quarter valued at approximately $29,000. We Are One Seven LLC purchased a new stake in shares of CubeSmart in the 4th quarter valued at approximately $50,000. Enlightenment Research LLC purchased a new stake in shares of CubeSmart in the 4th quarter valued at approximately $106,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of CubeSmart in the 4th quarter valued at approximately $119,000. Finally, NumerixS Investment Technologies Inc raised its stake in shares of CubeSmart by 80.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 5,040 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 2,240 shares during the period.
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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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