Shares of CubeSmart (NYSE:CUBE) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $28.33.
CUBE has been the subject of a number of recent research reports. Zacks Investment Research cut CubeSmart from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub raised CubeSmart from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Bank of America Corporation cut CubeSmart from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $27.75 to $25.00 in a report on Thursday, July 20th. Cantor Fitzgerald decreased their price target on CubeSmart from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, May 22nd. Finally, UBS AG cut CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th.
Shares of CubeSmart (NYSE:CUBE) traded down 3.23% during mid-day trading on Tuesday, hitting $25.18. The stock had a trading volume of 1,808,463 shares. The company has a market capitalization of $4.54 billion, a P/E ratio of 43.49 and a beta of 0.17. CubeSmart has a 1-year low of $22.83 and a 1-year high of $28.47. The stock’s 50-day moving average price is $24.61 and its 200 day moving average price is $25.22.
CubeSmart (NYSE:CUBE) last issued its 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. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The business had revenue of $138.60 million during the quarter, compared to analysts’ expectations of $138.07 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts predict that CubeSmart will post $0.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 4.29%. CubeSmart’s payout ratio is 186.21%.
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Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in CubeSmart by 4,480.2% during the first quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock worth $314,886,000 after purchasing an additional 11,864,899 shares during the period. Cbre Clarion Securities LLC grew its stake in CubeSmart by 62.1% during the second quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock worth $152,041,000 after purchasing an additional 2,423,464 shares during the period. OppenheimerFunds Inc. grew its stake in CubeSmart by 155.8% during the first quarter. OppenheimerFunds Inc. now owns 3,449,763 shares of the real estate investment trust’s stock worth $89,555,000 after purchasing an additional 2,101,363 shares during the period. Bank of New York Mellon Corp grew its stake in CubeSmart by 12.9% during the second quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock worth $280,612,000 after purchasing an additional 1,335,665 shares during the period. Finally, Kempen Capital Management N.V. grew its stake in CubeSmart by 962.3% during the second quarter. Kempen Capital Management N.V. now owns 1,182,549 shares of the real estate investment trust’s stock worth $28,430,000 after purchasing an additional 1,071,232 shares during the period.
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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