CubeSmart (CUBE) Rating Increased to Hold at BidaskClub
CubeSmart (NYSE:CUBE) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
A number of other equities analysts also recently issued reports on the company. Evercore ISI reaffirmed an “outperform” rating and set a $28.00 price target (up from $27.00) on shares of CubeSmart in a research report on Thursday. BMO Capital Markets reaffirmed a “market perform” rating and set a $27.00 price target on shares of CubeSmart in a research report on Monday, September 11th. Raymond James Financial, Inc. downgraded CubeSmart from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. UBS AG downgraded CubeSmart from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, KeyCorp reaffirmed a “hold” rating on shares of CubeSmart in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $28.25.
CubeSmart (NYSE CUBE) traded up 1.31% during trading on Friday, hitting $26.31. The stock had a trading volume of 2,125,958 shares. CubeSmart has a 52-week low of $22.83 and a 52-week high of $28.47. The firm has a market cap of $4.74 billion, a PE ratio of 45.44 and a beta of 0.17. The company’s 50 day moving average is $24.80 and its 200 day moving average is $25.20.
CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $138.60 million for the quarter, compared to the consensus estimate of $138.07 million. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. Equities research analysts forecast that CubeSmart will post $0.69 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Koch Industries Inc. acquired a new position in shares of CubeSmart in the 2nd quarter valued at $366,000. Westwood Holdings Group Inc. increased its position in shares of CubeSmart by 0.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock valued at $404,000 after acquiring an additional 155 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of 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. Cubist Systematic Strategies LLC acquired a new position in shares of CubeSmart in the 2nd quarter valued at $286,000. Finally, Clinton Group Inc. increased its position in shares of CubeSmart by 94.3% in the 2nd quarter. Clinton Group Inc. now owns 110,715 shares of the real estate investment trust’s stock valued at $2,662,000 after acquiring an additional 53,738 shares during the period.
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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