CubeSmart (NYSE:CUBE) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.64-1.69 for the period. CubeSmart also updated its FY19 guidance to $1.64-1.69 EPS.
Shares of CUBE stock traded down $0.88 during trading on Thursday, reaching $29.60. 3,267,162 shares of the company’s stock traded hands, compared to its average volume of 1,384,283. The stock has a market capitalization of $5.68 billion, a P/E ratio of 18.62, a PEG ratio of 3.11 and a beta of 0.31. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.97. CubeSmart has a 1 year low of $25.96 and a 1 year high of $33.18.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors 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 dividend yield of 4.32%. The ex-dividend date is Friday, March 29th. CubeSmart’s payout ratio is currently 80.50%.
CUBE has been the topic of a number of recent research reports. Bank of America upgraded shares of CubeSmart from a neutral rating to a buy rating and set a $25.22 price target on the stock in a research note on Thursday, November 15th. BMO Capital Markets cut shares of CubeSmart from an outperform rating to a market perform rating in a research note on Wednesday, January 9th. Zacks Investment Research cut shares of CubeSmart from a buy rating to a hold rating in a research note on Thursday, December 13th. Finally, ValuEngine upgraded shares of CubeSmart from a hold rating to a buy rating in a research note on Tuesday, November 20th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $31.90.
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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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