CubeSmart (CUBE) Upgraded to “Sell” by BidaskClub
CubeSmart (NYSE:CUBE) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.
Other equities analysts have also issued reports about the stock. Jefferies Group LLC set a $30.00 target price on shares of CubeSmart and gave the company a “buy” rating in a report on Friday, August 18th. KeyCorp reaffirmed a “hold” rating on shares of CubeSmart in a report on Friday, August 25th. Raymond James Financial, Inc. lowered shares of CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. UBS AG cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $27.00 price target (down previously from $29.00) on shares of CubeSmart in a research note on Thursday, May 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. CubeSmart currently has an average rating of “Hold” and a consensus target price of $28.57.
CubeSmart (NYSE:CUBE) opened at 26.84 on Thursday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 46.36 and a beta of 0.17. CubeSmart has a 52-week low of $22.83 and a 52-week high of $28.47. The firm has a 50 day moving average of $24.56 and a 200-day moving average of $25.25.
CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $138.60 million during the quarter, compared to analyst estimates of $138.07 million. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. Equities analysts expect that CubeSmart will post $0.69 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in CubeSmart by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 370 shares during the period. PNC Financial Services Group Inc. grew its stake in CubeSmart by 31.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 1,306 shares during the period. Salem Investment Counselors Inc. acquired a new stake in CubeSmart in the 1st quarter valued at $149,000. Commonwealth Bank of Australia grew its stake in CubeSmart by 3.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 283 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in CubeSmart in the 1st quarter valued at $222,000.
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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