UBS AG cut shares of CubeSmart (NYSE:CUBE) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday morning.

Several other brokerages also recently weighed in on CUBE. KeyCorp reiterated a hold rating on shares of CubeSmart in a report on Friday, August 25th. Cantor Fitzgerald cut their price target on CubeSmart from $30.00 to $29.00 and set an overweight rating for the company in a report on Monday, May 22nd. Citigroup Inc. reiterated a neutral rating and issued a $27.00 price target (down from $29.00) on shares of CubeSmart in a report on Thursday, May 11th. Zacks Investment Research upgraded CubeSmart from a sell rating to a hold rating in a report on Wednesday, May 3rd. Finally, BidaskClub downgraded CubeSmart from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $28.57.

CubeSmart (CUBE) opened at 24.77 on Wednesday. The stock has a 50 day moving average price of $24.13 and a 200-day moving average price of $25.29. The stock has a market cap of $4.46 billion, a PE ratio of 42.78 and a beta of 0.19. CubeSmart has a one year low of $22.83 and a one year high of $28.61.

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

TRADEMARK VIOLATION WARNING: “CubeSmart (CUBE) Lowered to “Market Perform” at UBS AG” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/31/cubesmart-cube-lowered-to-market-perform-at-ubs-ag.html.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.36%. CubeSmart’s payout ratio is 186.21%.

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 370 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in CubeSmart by 31.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 1,306 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in CubeSmart during the first quarter worth approximately $149,000. Commonwealth Bank of Australia increased its stake in CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 283 shares during the last quarter. Finally, Profund Advisors LLC purchased a new stake in CubeSmart during the second quarter worth approximately $214,000.

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)

Receive News & Stock 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 stocks with our FREE daily email newsletter.