CubeSmart (CUBE) Receives Average Rating of “Hold” from Brokerages
CubeSmart (NYSE:CUBE) has earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.60.
A number of research firms have commented on CUBE. B. Riley reiterated a “buy” rating on shares of CubeSmart in a research report on Wednesday, November 1st. Zacks Investment Research lowered CubeSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. BidaskClub upgraded CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Robert W. Baird reiterated a “buy” rating and issued a $27.00 price target on shares of CubeSmart in a research report on Tuesday, October 17th. Finally, Jefferies Group set a $33.00 price target on CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 28th.
Shares of CubeSmart (NYSE:CUBE) traded down $0.38 during mid-day trading on Monday, reaching $27.30. The company had a trading volume of 1,847,624 shares, compared to its average volume of 1,560,000. CubeSmart has a twelve month low of $22.83 and a twelve month high of $29.79. The company has a market cap of $4,940.00, a price-to-earnings ratio of 42.00, a P/E/G ratio of 3.35 and a beta of 0.22. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.30 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, December 29th. This represents a $1.20 annualized dividend and a dividend yield of 4.40%. CubeSmart’s dividend payout ratio is presently 184.62%.
In related news, CFO Timothy M. Martin sold 83,409 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $29.32, for a total transaction of $2,445,551.88. Following the transaction, the chief financial officer now directly owns 228,948 shares of the company’s stock, valued at approximately $6,712,755.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jonathan L. Perry sold 20,270 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $29.37, for a total value of $595,329.90. Following the transaction, the senior vice president now directly owns 67,197 shares in the company, valued at $1,973,575.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,425 shares of company stock worth $4,915,172. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. raised its stake in CubeSmart by 0.9% during the 2nd 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 during the period. D.A. Davidson & CO. raised 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 purchasing an additional 164 shares during the last quarter. Commonwealth Bank of Australia raised 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 purchasing an additional 283 shares during the last quarter. The Manufacturers Life Insurance Company raised 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 purchasing an additional 370 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of CubeSmart by 22.8% in the second quarter. Neuberger Berman Group LLC now owns 10,486 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 1,945 shares during the last quarter.
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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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