CubeSmart (CUBE) Receives Consensus Rating of “Hold” from Analysts
Shares of CubeSmart (NYSE:CUBE) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $28.67.
A number of research firms recently weighed in on CUBE. Zacks Investment Research upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Cantor Fitzgerald lowered their target price 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. Citigroup Inc. restated a “neutral” rating and set a $27.00 target price (down previously from $29.00) on shares of CubeSmart in a research note on Thursday, May 11th. BidaskClub cut shares of CubeSmart from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Finally, Bank of America Corporation cut shares of CubeSmart from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $27.75 to $25.00 in a research note on Thursday, July 20th.
A number of hedge funds have recently made changes to their positions in CUBE. Westwood Holdings Group Inc. increased its stake in shares of CubeSmart by 0.9% in the second quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 155 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of CubeSmart by 1.6% in the second quarter. D.A. Davidson & CO. now owns 10,401 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 164 shares in the last quarter. Commonwealth Bank of Australia increased its stake in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 283 shares in the last quarter. GAM Holding AG increased its stake in shares of CubeSmart by 2.5% in the second quarter. GAM Holding AG now owns 15,359 shares of the real estate investment trust’s stock worth $369,000 after buying an additional 369 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 370 shares in the last quarter.
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Shares of CubeSmart (CUBE) traded down 2.28% during midday trading on Friday, reaching $23.52. 1,806,159 shares of the company’s stock were exchanged. CubeSmart has a one year low of $22.83 and a one year high of $28.98. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 40.62 and a beta of 0.19. The firm has a 50 day moving average of $24.07 and a 200-day moving average of $25.33.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The company had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $138.07 million. During the same quarter in the previous year, the company earned $0.36 EPS. CubeSmart’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that CubeSmart will post $0.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.08 dividend on an annualized basis and a yield of 4.59%. CubeSmart’s dividend payout ratio is currently 186.21%.
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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