CubeSmart (CUBE) Upgraded to Sell at BidaskClub
CubeSmart (NYSE:CUBE) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
CUBE has been the topic of several other reports. Cantor Fitzgerald decreased their price target on shares of CubeSmart from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and set a $31.00 price target on shares of CubeSmart in a research note on Tuesday, April 18th. Citigroup Inc. reissued a “neutral” rating and set a $27.00 price target (down from $29.00) on shares of CubeSmart in a research note on Thursday, May 11th. BMO Capital Markets set a $29.00 price target on shares of CubeSmart and gave the stock a “buy” rating in a research note on Wednesday, March 22nd. Finally, Zacks Investment Research raised shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $29.60.
CubeSmart (NYSE:CUBE) traded down 0.41% during trading on Wednesday, reaching $24.12. 1,478,594 shares of the company were exchanged. The firm’s 50-day moving average is $24.07 and its 200 day moving average is $25.60. CubeSmart has a one year low of $22.83 and a one year high of $31.01. The company has a market capitalization of $4.35 billion, a P/E ratio of 47.67 and a beta of 0.18.
CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, April 27th. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $133 million for the quarter, compared to the consensus estimate of $133.30 million. CubeSmart had a net margin of 18.53% and a return on equity of 5.80%. CubeSmart’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, analysts anticipate that CubeSmart will post $0.67 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased 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 last quarter. Salem Investment Counselors Inc. purchased a new position in shares of CubeSmart during the first quarter valued at approximately $149,000. Private Capital Management Inc. purchased a new position in shares of CubeSmart during the second quarter valued at approximately $216,000. Neuberger Berman Group LLC purchased a new position in shares of CubeSmart during the first quarter valued at approximately $222,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of CubeSmart during the first quarter valued at approximately $270,000.
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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