CubeSmart (CUBE) Raised to “Sell” at BidaskClub
BidaskClub upgraded shares of CubeSmart (NYSE:CUBE) from a strong sell rating to a sell rating in a research report report published on Thursday.
A number of other research analysts have also recently commented on CUBE. Zacks Investment Research cut CubeSmart from a hold rating to a sell rating in a report on Monday, July 31st. Raymond James Financial, Inc. cut CubeSmart from an outperform rating to a market perform rating in a report on Wednesday, August 30th. KeyCorp reissued a hold rating on shares of CubeSmart in a report on Friday, August 25th. Jefferies Group LLC set a $30.00 price target on CubeSmart and gave the stock a buy rating in a report on Friday, August 18th. Finally, UBS AG cut CubeSmart from an outperform rating to a market perform rating in a report on Wednesday, August 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. CubeSmart presently has an average rating of Hold and an average price target of $28.57.
Shares of CubeSmart (CUBE) traded up 1.28% during midday trading on Thursday, reaching $26.84. 2,784,133 shares of the company were exchanged. The stock has a market capitalization of $4.84 billion, a P/E ratio of 46.36 and a beta of 0.17. The company has a 50 day moving average price of $24.56 and a 200-day moving average price of $25.25. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.47.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, topping 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 company had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $138.07 million. During the same period in the previous year, the firm earned $0.36 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that CubeSmart will post $0.69 earnings per share for the current fiscal year.
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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 annualized dividend and a dividend yield of 4.02%. CubeSmart’s dividend payout ratio (DPR) is 186.21%.
Several institutional investors and hedge funds have recently modified their holdings of CUBE. BlackRock Inc. raised its holdings in shares of CubeSmart by 4,480.2% during the 1st quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock worth $314,886,000 after acquiring an additional 11,864,899 shares in the last quarter. Cbre Clarion Securities LLC raised its holdings in shares of CubeSmart by 62.1% during the 2nd quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock worth $152,041,000 after acquiring an additional 2,423,464 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in shares of CubeSmart by 155.8% during the 1st quarter. OppenheimerFunds Inc. now owns 3,449,763 shares of the real estate investment trust’s stock worth $89,555,000 after acquiring an additional 2,101,363 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CubeSmart by 12.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock worth $280,612,000 after acquiring an additional 1,335,665 shares in the last quarter. Finally, Kempen Capital Management N.V. raised its holdings in shares of CubeSmart by 962.3% during the 2nd quarter. Kempen Capital Management N.V. now owns 1,182,549 shares of the real estate investment trust’s stock worth $28,430,000 after acquiring an additional 1,071,232 shares in 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.
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