KeyCorp reaffirmed their hold rating on shares of CubeSmart (NYSE:CUBE) in a research report report published on Friday morning.

A number of other equities research analysts have also weighed in on the stock. Jefferies Group LLC set a $30.00 price objective on shares of CubeSmart and gave the stock a buy rating in a report on Friday, August 18th. BidaskClub lowered shares of CubeSmart from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Zacks Investment Research lowered shares of CubeSmart from a hold rating to a sell rating in a report on Monday, July 31st. Bank of America Corporation lowered shares of CubeSmart from a neutral rating to an underperform rating and lowered their price target for the company from $27.75 to $25.00 in a report on Thursday, July 20th. Finally, Cantor Fitzgerald lowered their price target on shares of CubeSmart from $30.00 to $29.00 and set an overweight rating for the company in a report on Monday, May 22nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. CubeSmart currently has an average rating of Hold and an average target price of $28.57.

Shares of CubeSmart (NYSE:CUBE) opened at 24.68 on Friday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 42.63 and a beta of 0.19. The firm’s 50-day moving average is $24.13 and its 200-day moving average is $25.29. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.61.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $138.60 million during the quarter, compared to analyst estimates of $138.07 million. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. Analysts predict that CubeSmart will post $0.69 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s payout ratio is currently 186.21%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of CubeSmart by 8.0% in the first quarter. US Bancorp DE now owns 51,867 shares of the real estate investment trust’s stock worth $1,346,000 after buying an additional 3,864 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of CubeSmart by 36.2% in the first quarter. Daiwa Securities Group Inc. now owns 14,300 shares of the real estate investment trust’s stock worth $371,000 after buying an additional 3,800 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of CubeSmart by 53.3% in the first quarter. Advisors Asset Management Inc. now owns 13,437 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 4,672 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of CubeSmart by 160.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,721,772 shares of the real estate investment trust’s stock worth $70,657,000 after buying an additional 1,676,283 shares during the last quarter. Finally, Honeywell International Inc. increased its position in shares of CubeSmart by 476.7% in the first quarter. Honeywell International Inc. now owns 354,070 shares of the real estate investment trust’s stock worth $9,192,000 after buying an additional 292,670 shares during the last quarter.

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.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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