CubeSmart (NYSE:CUBE) was downgraded by equities research analysts at Bank of America Corporation from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday, The Fly reports.

Other research analysts also recently issued research reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of CubeSmart in a research note on Tuesday, April 18th. Zacks Investment Research downgraded CubeSmart from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. BMO Capital Markets set a $29.00 price objective on CubeSmart and gave the company a “buy” rating in a research note on Wednesday, March 22nd. Cantor Fitzgerald decreased their target price 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. Finally, Citigroup Inc. reissued a “neutral” rating and set a $27.00 target price (down previously from $29.00) on shares of CubeSmart in a research report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. CubeSmart has a consensus rating of “Hold” and an average target price of $29.90.

Shares of CubeSmart (NYSE CUBE) opened at 24.51 on Thursday. CubeSmart has a 12 month low of $22.83 and a 12 month high of $31.01. The firm has a market cap of $4.42 billion, a PE ratio of 48.44 and a beta of 0.18. The company’s 50 day moving average is $24.09 and its 200-day moving average is $25.61.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. CubeSmart had a net margin of 18.53% and a return on equity of 5.80%. The business had revenue of $133 million during the quarter, compared to analysts’ expectations of $133.30 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. CubeSmart’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that CubeSmart will post $0.67 EPS for the current year.

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Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of 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 during the period. Salem Investment Counselors Inc. bought a new position in shares of CubeSmart during the first quarter valued at $149,000. Neuberger Berman Group LLC bought a new position in shares of CubeSmart during the first quarter valued at $222,000. Fort Washington Investment Advisors Inc. OH bought a new position in shares of CubeSmart during the first quarter valued at $270,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of CubeSmart by 42.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,541 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 3,710 shares during the period.

About CubeSmart

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.

The Fly

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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