$166.91 Million in Sales Expected for CubeSmart (NYSE:CUBE) This Quarter

Equities research analysts forecast that CubeSmart (NYSE:CUBE) will post sales of $166.91 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for CubeSmart’s earnings. The highest sales estimate is $171.31 million and the lowest is $164.60 million. CubeSmart posted sales of $134.74 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.9%. The business is expected to announce its next quarterly earnings report on Thursday, February 20th.

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According to Zacks, analysts expect that CubeSmart will report full-year sales of $645.60 million for the current financial year, with estimates ranging from $643.00 million to $652.82 million. For the next year, analysts forecast that the company will post sales of $682.49 million, with estimates ranging from $664.90 million to $715.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover CubeSmart.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). CubeSmart had a return on equity of 9.98% and a net margin of 28.58%. The firm had revenue of $166.55 million for the quarter, compared to analyst estimates of $164.01 million. During the same period in the prior year, the business earned $0.43 earnings per share. CubeSmart’s revenue for the quarter was up 8.6% on a year-over-year basis.

Several research firms recently issued reports on CUBE. Cfra cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Robert W. Baird set a $35.00 target price on shares of CubeSmart and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Zacks Investment Research cut shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Raymond James raised shares of CubeSmart from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $38.00 to $38.50 in a research report on Monday, October 21st. Finally, Stifel Nicolaus began coverage on shares of CubeSmart in a research report on Monday, August 19th. They issued a “hold” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $35.50.

Shares of CUBE traded down $0.62 during mid-day trading on Wednesday, hitting $30.22. The company had a trading volume of 1,053,301 shares, compared to its average volume of 1,380,749. The business’s 50-day simple moving average is $32.01 and its 200-day simple moving average is $33.90. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.00. CubeSmart has a 1-year low of $27.97 and a 1-year high of $36.32. The stock has a market cap of $5.88 billion, a PE ratio of 18.43, a P/E/G ratio of 5.44 and a beta of 0.09.

In related news, CEO Christopher P. Marr sold 79,888 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $36.15, for a total value of $2,887,951.20. Following the sale, the chief executive officer now directly owns 403,687 shares of the company’s stock, valued at $14,593,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.04% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in CUBE. Garrett Wealth Advisory Group LLC acquired a new position in CubeSmart during the third quarter valued at approximately $27,000. Oppenheimer Asset Management Inc. acquired a new position in CubeSmart during the second quarter valued at approximately $51,000. NEXT Financial Group Inc raised its stake in shares of CubeSmart by 190.0% during the third quarter. NEXT Financial Group Inc now owns 1,450 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 950 shares during the period. Advisory Services Network LLC raised its stake in shares of CubeSmart by 29.3% during the second quarter. Advisory Services Network LLC now owns 1,939 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 439 shares during the period. Finally, Advisor Group Inc. raised its stake in shares of CubeSmart by 36.3% during the second quarter. Advisor Group Inc. now owns 3,418 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 910 shares during the period. 98.01% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Company Profile

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 2019 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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Earnings History and Estimates for CubeSmart (NYSE:CUBE)

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