CubeSmart (NYSE: CUBE) stock fell -1.39% on Friday to $41.12 against a previous-day closing price of $41.70. With 1.8 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.2 million shares. During the session, the REIT – Industrial company that operates in wider Real Estate sector, reached to the highest price of $41.56 whereas the lowest price it dropped to was $40.67. The 52-week range on CUBE shows that it touched its highest point at $57.34 and its lowest point at $38.67 during that stretch. It currently has a 1-year price target of $56.00. With its current market cap of 9.32 billion, CUBE has annualized dividend of $1.72 while the current yield stands at 4.18%. Beta for the stock currently stands at 0.52.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CUBE was down-trending over the past week, with a drop of -6.08%, but this was down by -14.78% over a month. Three-month performance dropped to -1.84% while six-month performance fell -17.45%. The stock lost -19.95% in the past year, while it has lost -27.75% so far this year. A look at the trailing 12-month EPS for CUBE yields 1.07 with Next year EPS estimates of 1.23. For the next quarter, that number is 0.28. This implies an EPS growth rate of 28.30% for this year and 24.80% for next year. EPS is expected to grow by 6.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.60%.
Float and Shares Shorts:
At present, 224.96 million CUBE shares are outstanding with a float of 223.04 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.08 million, which was 1.82% higher than short shares on Jun 14, 2022. In addition to Mr. Christopher P. Marr as the firm’s CEO, Pres & Trustee, Mr. Timothy M. Martin serves as its CFO & Treasurer.
Through their ownership of 100.03% of CUBE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.49% of CUBE, in contrast to 41.69% held by mutual funds. Shares owned by individuals account for 4.10%. As the largest shareholder in CUBE with 14.28% of the stake, The Vanguard Group, Inc. holds 32,049,013 shares worth 32,049,013. A second-largest stockholder of CUBE, Fidelity Management & Research Co, holds 13,758,819 shares, controlling over 6.13% of the firm’s shares. Principal Global Investors LLC is the third largest shareholder in CUBE, holding 12,349,163 shares or 5.50% stake. With a 4.58% stake in CUBE, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 10,274,900 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.96% of CUBE stock, is the second-largest Mutual Fund holder. It holds 6,649,570 shares valued at 306.21 million. Cohen & Steers Real Estate Securi holds 2.59% of the stake in CUBE, owning 5,806,604 shares worth 267.39 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CUBE since 11 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CUBE analysts setting a high price target of $62.00 and a low target of $47.00, the average target price over the next 12 months is $55.89. Based on these targets, CUBE could surge 50.78% to reach the target high and rise by 14.3% to reach the target low. Reaching the average price target will result in a growth of 35.92% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CUBE will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of $1.03 being high and $0.99 being low. For CUBE, this leads to a yearly average estimate of $1.01. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CubeSmart surprised analysts by $0.02 when it reported $0.26 EPS against a consensus estimate of $0.24. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is $0.29 and the low estimate is $0.28. The average estimate for the next quarter is thus $0.29.
Summary of Insider Activity:
Insiders traded CUBE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 148,342 while 213,897 shares were sold.