CubeSmart (NYSE:CUBE) – Stock analysts at KeyCorp issued their FY2019 earnings per share estimates for shares of CubeSmart in a report released on Monday. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will earn $1.74 per share for the year.
Several other research analysts also recently weighed in on CUBE. B. Riley reissued a “buy” rating on shares of CubeSmart in a research note on Wednesday, November 1st. SunTrust Banks set a $31.00 target price on shares of CubeSmart and gave the company a “hold” rating in a research note on Monday, January 22nd. BidaskClub raised shares of CubeSmart from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. Robert W. Baird reissued a “buy” rating and issued a $27.00 target price on shares of CubeSmart in a research note on Tuesday, October 17th. Finally, Jefferies Group set a $33.00 target price on shares of CubeSmart and gave the company a “buy” rating in a research note on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. CubeSmart currently has an average rating of “Hold” and an average price target of $29.55.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were paid a $0.30 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.20 annualized dividend and a yield of 4.45%. CubeSmart’s payout ratio is presently 184.62%.
In other CubeSmart news, CEO Christopher P. Marr sold 6,000 shares of CubeSmart stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $29.33, for a total value of $175,980.00. Following the completion of the sale, the chief executive officer now owns 410,138 shares in the company, valued at approximately $12,029,347.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy M. Martin sold 83,409 shares of CubeSmart stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total value of $2,445,551.88. Following the completion of the sale, the chief financial officer now owns 228,948 shares of the company’s stock, valued at approximately $6,712,755.36. The disclosure for this sale can be found here. Insiders sold a total of 167,425 shares of company stock valued at $4,915,172 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. grew its holdings in CubeSmart by 2.9% in the 3rd quarter. Prudential Financial Inc. now owns 3,051,854 shares of the real estate investment trust’s stock valued at $79,226,000 after buying an additional 84,926 shares during the period. Northern Trust Corp grew its holdings in CubeSmart by 7.0% in the 2nd quarter. Northern Trust Corp now owns 1,747,835 shares of the real estate investment trust’s stock valued at $42,018,000 after buying an additional 113,864 shares during the period. Numeric Investors LLC purchased a new stake in CubeSmart in the 2nd quarter valued at about $1,231,000. AMP Capital Investors Ltd grew its holdings in CubeSmart by 77.8% in the 3rd quarter. AMP Capital Investors Ltd now owns 113,841 shares of the real estate investment trust’s stock valued at $2,955,000 after buying an additional 49,800 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in CubeSmart by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,938,960 shares of the real estate investment trust’s stock valued at $102,453,000 after buying an additional 293,101 shares during the period.
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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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