CubeSmart Coverage Initiated at Macquarie (CUBE)
Investment analysts at Macquarie started coverage on shares of CubeSmart (NASDAQ:CUBE) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “underperform” rating on the stock.
A number of other analysts have also recently weighed in on CUBE. Analysts at UBS AG upgraded shares of CubeSmart (NASDAQ:CUBE) from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday, August 13th. They now have a $18.00 price target on the stock. Separately, analysts at SunTrust initiated coverage on shares of CubeSmart (NASDAQ:CUBE) in a research note to investors on Thursday, July 11th. They set a “buy” rating on the stock. Finally, analysts at Canaccord Genuity upgraded shares of CubeSmart (NASDAQ:CUBE) from an “underweight” rating to a “hold” rating in a research note to investors on Monday, June 17th.
One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $15.50.
CubeSmart (NASDAQ:CUBE) traded down 0.24% during mid-day trading on Tuesday, hitting $16.71. The stock had a trading volume of 391,189 shares. CubeSmart has a one year low of $12.52 and a one year high of $18.01. The stock has a 50-day moving average of $16.94 and a 200-day moving average of $16.36. The company’s market cap is $2.258 billion.
CubeSmart (NASDAQ:CUBE) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.02. The company had revenue of $82.30 million for the quarter, compared to the consensus estimate of $78.91 million. During the same quarter last year, the company posted $0.18 earnings per share. CubeSmart’s revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that CubeSmart will post $0.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, September 27th.
CubeSmart is a financials company in the Specialized REITs industry.
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