CubeSmart (CUBE) Receives $29.50 Consensus Price Target from Brokerages

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%.

TRADEMARK VIOLATION WARNING: “CubeSmart (CUBE) Receives $29.50 Consensus Price Target from Brokerages” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.baseball-news-blog.com/2017/08/19/cubesmart-cube-given-consensus-rating-of-hold-by-analysts-updated-updated-updated.html.

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.

About CubeSmart

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.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply