CubeSmart Lowered to “Market Perform” at Wells Fargo & Co. (CUBE)
CubeSmart (NASDAQ:CUBE) was downgraded by stock analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.
CubeSmart (NASDAQ:CUBE) traded down 0.50% on Tuesday, hitting $16.08. The stock had a trading volume of 1,486,328 shares. CubeSmart has a one year low of $14.08 and a one year high of $19.69. The stock’s 50-day moving average is $15.84 and its 200-day moving average is $17.01. The company has a market cap of $2.237 billion and a P/E ratio of 156.89.
CubeSmart (NASDAQ:CUBE) last announced its earnings results on Friday, November 8th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.01. The company had revenue of $82.83 million for the quarter, compared to the consensus estimate of $84.32 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. On average, analysts predict that CubeSmart will post $0.90 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of 0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, December 30th. This is a positive change from CubeSmart’s previous quarterly dividend of $0.11.
Several other analysts have also recently commented on the stock. Analysts at SunTrust downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, December 3rd. Separately, analysts at Zacks downgraded shares of CubeSmart from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 12th. They now have a $21.20 price target on the stock. Finally, analysts at Macquarie upgraded shares of CubeSmart from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, October 28th. They now have a $19.50 price target on the stock, up previously from $14.50. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. CubeSmart currently has a consensus rating of “Hold” and an average price target of $19.68.
CubeSmart is a financials company in the Specialized REITs industry.
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