CubeSmart (CUBE) Stock Rating Reaffirmed by Evercore ISI
CubeSmart (NYSE:CUBE)‘s stock had its “outperform” rating reaffirmed by stock analysts at Evercore ISI in a note issued to investors on Thursday. They currently have a $28.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $27.00. Evercore ISI’s price objective would indicate a potential upside of 7.80% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Jefferies Group LLC set a $30.00 target price on CubeSmart and gave the company a “buy” rating in a report on Friday, August 18th. KeyCorp reissued a “hold” rating on shares of CubeSmart in a report on Friday, August 25th. Raymond James Financial, Inc. downgraded CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. UBS AG downgraded CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $27.00 target price on shares of CubeSmart in a report on Monday. Three equities research 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. The company currently has a consensus rating of “Hold” and a consensus target price of $28.25.
CubeSmart (CUBE) traded up 1.703% on Thursday, reaching $25.975. The company’s stock had a trading volume of 1,078,341 shares. CubeSmart has a one year low of $22.83 and a one year high of $28.47. The stock has a 50-day moving average of $24.64 and a 200-day moving average of $25.20. The stock has a market cap of $4.68 billion, a P/E ratio of 44.862 and a beta of 0.17.
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 analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The company had revenue of $138.60 million for the quarter, compared to the consensus estimate of $138.07 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. CubeSmart’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that CubeSmart will post $0.69 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CUBE. Koch Industries Inc. purchased a new stake in shares of CubeSmart during the second quarter worth about $366,000. Westwood Holdings Group Inc. grew its position in shares of CubeSmart by 0.9% during the second quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 155 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of CubeSmart by 7.4% during 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 purchasing an additional 370 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of CubeSmart during the second quarter worth about $286,000. Finally, Clinton Group Inc. grew its position in shares of CubeSmart by 94.3% during the second quarter. Clinton Group Inc. now owns 110,715 shares of the real estate investment trust’s stock worth $2,662,000 after purchasing an additional 53,738 shares in the last quarter.
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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