CubeSmart (NYSE:CUBE) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $28.83.
A number of research analysts have recently issued reports on the company. BidaskClub cut CubeSmart from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Bank of America Corporation cut CubeSmart from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $27.75 to $25.00 in a research note on Thursday, July 20th. Cantor Fitzgerald reduced their price objective on CubeSmart from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, May 22nd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $27.00 price objective (down from $29.00) on shares of CubeSmart in a research note on Thursday, May 11th.
CubeSmart (NYSE:CUBE) traded down 0.94% during midday trading on Monday, hitting $24.13. The company’s stock had a trading volume of 385,702 shares. CubeSmart has a 52-week low of $22.83 and a 52-week high of $28.98. The stock has a 50 day moving average of $24.08 and a 200 day moving average of $25.38. The company has a market cap of $4.35 billion, a PE ratio of 41.68 and a beta of 0.19.
CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $138.07 million. During the same quarter last year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts expect that CubeSmart will post $0.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.27 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 4.43%. CubeSmart’s payout ratio is presently 186.21%.
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A number of hedge funds have recently bought and sold shares of CUBE. State of Alaska Department of Revenue raised its position in CubeSmart by 32.6% in the second quarter. State of Alaska Department of Revenue now owns 118,110 shares of the real estate investment trust’s stock valued at $2,838,000 after buying an additional 29,010 shares during the last quarter. State Street Corp raised its position in CubeSmart by 1.9% in the first quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock valued at $144,956,000 after buying an additional 101,843 shares during the last quarter. Westpac Banking Corp raised its position in CubeSmart by 36.9% in the first quarter. Westpac Banking Corp now owns 531,577 shares of the real estate investment trust’s stock valued at $16,587,000 after buying an additional 143,258 shares during the last quarter. Dean Investment Associates LLC raised its position in CubeSmart by 51.9% in the first quarter. Dean Investment Associates LLC now owns 26,448 shares of the real estate investment trust’s stock valued at $687,000 after buying an additional 9,035 shares during the last quarter. Finally, KRV Capital LP purchased a new position in shares of CubeSmart during the first quarter worth $9,059,000.
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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