CubeSmart (NYSE:CUBE) has been assigned a consensus rating of “Buy” from the eleven brokerages that are presently covering the stock. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.08.
A number of research analysts have recently weighed in on CUBE shares. FBR & Co started coverage on shares of CubeSmart in a research report on Thursday, June 23rd. They set an “outperform” rating and a $35.00 target price for the company. DA Davidson started coverage on shares of CubeSmart in a research note on Friday, June 24th. They set a “neutral” rating and a $35.00 price target on the stock. Zacks Investment Research upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday, July 5th. SunTrust Banks Inc. cut shares of CubeSmart from a “buy” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $33.00 in a research note on Monday, July 25th. Finally, Jefferies Group restated a “buy” rating on shares of CubeSmart in a research note on Monday, August 1st.
In other news, Director William M. Diefenderfer III sold 2,961 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $27.25, for a total value of $80,687.25. Following the transaction, the director now owns 128,486 shares of the company’s stock, valued at approximately $3,501,243.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CUBE. Advisor Group Inc. acquired a new position in CubeSmart during the second quarter valued at approximately $103,000. PNC Financial Services Group Inc. raised its position in CubeSmart by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 5,018 shares of the company’s stock valued at $155,000 after buying an additional 581 shares in the last quarter. Neuberger Berman Group LLC raised its position in CubeSmart by 5.0% in the second quarter. Neuberger Berman Group LLC now owns 6,770 shares of the company’s stock valued at $209,000 after buying an additional 324 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new position in CubeSmart during the second quarter valued at approximately $255,000. Finally, Pacad Investment Ltd. acquired a new position in CubeSmart during the first quarter valued at approximately $263,000.
CubeSmart (NYSE:CUBE) traded down 1.85% during mid-day trading on Tuesday, hitting $26.46. 847,645 shares of the company’s stock were exchanged. CubeSmart has a 12 month low of $26.24 and a 12 month high of $33.52. The stock’s 50 day moving average price is $27.45 and its 200-day moving average price is $30.07. The stock has a market cap of $4.74 billion, a PE ratio of 53.67 and a beta of 0.47.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, July 28th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. CubeSmart had a net margin of 19.26% and a return on equity of 5.57%. The firm earned $126.53 million during the quarter, compared to the consensus estimate of $124.94 million. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. Equities analysts expect that CubeSmart will post $1.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, September 29th. CubeSmart’s payout ratio is 171.43%.
CubeSmart Company Profile
CubeSmart operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s operations are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Company is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.
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