BidaskClub downgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a strong sell rating in a report released on Tuesday, August 1st.
A number of other equities analysts have also recently commented on CUBE. Zacks Investment Research cut CubeSmart from a hold rating to a sell rating in a report on Monday, July 31st. Cantor Fitzgerald cut their price objective on shares of CubeSmart from $30.00 to $29.00 and set an overweight rating for the company in a research report on Monday, May 22nd. Bank of America Corporation downgraded shares of CubeSmart from a neutral rating to an underperform rating and cut their price objective for the stock from $27.75 to $25.00 in a research report on Thursday, July 20th. Citigroup Inc. restated a neutral rating and set a $27.00 price objective (down from $29.00) on shares of CubeSmart in a research report on Thursday, May 11th. Finally, Jefferies Group LLC restated a buy rating and set a $31.00 price objective on shares of CubeSmart in a research report on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $28.57.
CubeSmart (NYSE CUBE) opened at 23.52 on Tuesday. The company’s 50 day moving average price is $24.06 and its 200 day moving average price is $25.31. CubeSmart has a 52-week low of $22.83 and a 52-week high of $28.98. The firm has a market cap of $4.24 billion, a PE ratio of 40.62 and a beta of 0.19.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The business had revenue of $138.60 million during the quarter, compared to analysts’ expectations of $138.07 million. During the same quarter last year, the company posted $0.36 earnings per share. CubeSmart’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts predict that CubeSmart will post $0.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.59%. CubeSmart’s payout ratio is 186.21%.
Several large investors have recently added to or reduced their stakes in CUBE. The Manufacturers Life Insurance Company increased its stake in CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 370 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in CubeSmart by 31.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 1,306 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in CubeSmart during the first quarter worth $149,000. Commonwealth Bank of Australia increased its stake in CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 283 shares during the last quarter. Finally, Profund Advisors LLC acquired a new stake in CubeSmart during the second quarter worth $214,000.
CubeSmart Company Profile
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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