CubeSmart (CUBE) Receives Average Recommendation of “Buy” from Analysts
Shares of CubeSmart (NYSE:CUBE) have earned an average recommendation of “Buy” from the nine analysts that are covering the firm. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $33.17.
A number of brokerages recently commented on CUBE. FBR & Co set a $35.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research report on Sunday, September 18th. Evercore ISI downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. SunTrust Banks Inc. downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $37.00 to $33.00 in a research report on Monday, July 25th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of CubeSmart in a research report on Friday, October 28th. Finally, Jefferies Group lowered their price objective on shares of CubeSmart from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th.
Shares of CubeSmart (NYSE:CUBE) opened at 25.80 on Wednesday. CubeSmart has a 1-year low of $24.48 and a 1-year high of $33.52. The stock has a market cap of $4.64 billion, a P/E ratio of 49.43 and a beta of 0.34. The company’s 50-day moving average is $26.23 and its 200 day moving average is $28.80.
CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. CubeSmart had a net margin of 19.93% and a return on equity of 5.84%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.19 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that CubeSmart will post $1.42 EPS for the current year.
In related news, Director William M. Diefenderfer III sold 2,961 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $27.25, for a total transaction of $80,687.25. Following the completion of the sale, the director now directly owns 128,486 shares of the company’s stock, valued at approximately $3,501,243.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.13% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. UBS Group AG increased its stake in CubeSmart by 5.0% in the first quarter. UBS Group AG now owns 71,516 shares of the company’s stock valued at $2,381,000 after buying an additional 3,419 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in CubeSmart by 8.2% in the first quarter. UBS Asset Management Americas Inc. now owns 636,296 shares of the company’s stock valued at $21,188,000 after buying an additional 48,045 shares during the last quarter. Geode Capital Management LLC boosted its position in CubeSmart by 11.1% in the first quarter. Geode Capital Management LLC now owns 1,454,676 shares of the company’s stock valued at $48,440,000 after buying an additional 145,433 shares during the last quarter. HBK Investments L P bought a new position in CubeSmart during the first quarter valued at approximately $2,634,000. Finally, Renaissance Technologies LLC boosted its position in CubeSmart by 40.2% in the first quarter. Renaissance Technologies LLC now owns 2,055,400 shares of the company’s stock valued at $68,445,000 after buying an additional 589,500 shares during the last quarter.
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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