CubeSmart (CUBE) Price Target Lowered to $29.00 at Cantor Fitzgerald
CubeSmart (NYSE:CUBE) had its price target cut by equities research analysts at Cantor Fitzgerald from $30.00 to $29.00 in a research report issued on Monday. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 15.40% from the stock’s previous close.
Several other research analysts have also issued reports on CUBE. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a research report on Tuesday, February 14th. BMO Capital Markets restated a “buy” rating and issued a $29.00 price target on shares of CubeSmart in a research report on Friday, February 17th. Jefferies Group LLC restated a “buy” rating and issued a $31.00 price target on shares of CubeSmart in a research report on Tuesday, April 18th. Finally, Citigroup Inc restated a “neutral” rating and issued a $27.00 price target (down from $29.00) on shares of CubeSmart in a research report on Thursday, May 11th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.40.
Shares of CubeSmart (NYSE:CUBE) traded up 0.76% during midday trading on Monday, hitting $25.32. The stock had a trading volume of 856,849 shares. The stock has a 50 day moving average price of $26.04 and a 200-day moving average price of $25.96. CubeSmart has a 52 week low of $23.65 and a 52 week high of $32.51. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 50.04 and a beta of 0.27.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. CubeSmart had a return on equity of 5.84% and a net margin of 19.93%. The business had revenue of $133 million for the quarter, compared to analyst estimates of $133.30 million. During the same period last year, the company earned $0.32 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that CubeSmart will post $0.67 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of CUBE. PNC Financial Services Group Inc. raised its position 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 valued at $140,000 after buying an additional 1,306 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in CubeSmart during the first quarter valued at $149,000. Harvest Fund Management Co. Ltd acquired a new position in CubeSmart during the fourth quarter valued at $179,000. Neuberger Berman Group LLC acquired a new position in CubeSmart during the first quarter valued at $222,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in CubeSmart during the fourth quarter valued at $264,000. Hedge funds and other institutional investors own 99.91% of the company’s stock.
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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