BidaskClub upgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a hold rating in a report published on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Jefferies Group LLC set a $30.00 price objective on shares of CubeSmart and gave the stock a buy rating in a research report on Friday, August 18th. KeyCorp reiterated a hold rating on shares of CubeSmart in a research report on Friday, August 25th. BMO Capital Markets reiterated a market perform rating and set a $27.00 price objective on shares of CubeSmart in a research report on Monday, September 11th. Raymond James Financial, Inc. cut shares of CubeSmart from an outperform rating to a market perform rating in a research report on Wednesday, August 30th. Finally, UBS AG cut shares of CubeSmart from an outperform rating to a market perform rating in a research report on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $28.25.

CubeSmart (NYSE CUBE) opened at 26.34 on Friday. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 45.49 and a beta of 0.17. CubeSmart has a 52 week low of $22.83 and a 52 week high of $28.47. The firm’s 50 day moving average price is $24.87 and its 200-day moving average price is $25.17.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $138.60 million for 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 firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. Analysts expect that CubeSmart will post $0.69 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Friday, September 29th. CubeSmart’s dividend payout ratio (DPR) is currently 186.21%.

Several large investors have recently modified their holdings of the business. Koch Industries Inc. acquired a new stake in shares of CubeSmart during the 2nd quarter valued at $366,000. Westwood Holdings Group Inc. boosted its stake in shares of CubeSmart by 0.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 155 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of CubeSmart by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 370 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of CubeSmart during the 2nd quarter valued at $286,000. Finally, Clinton Group Inc. boosted its stake in shares of CubeSmart by 94.3% during the 2nd quarter. Clinton Group Inc. now owns 110,715 shares of the real estate investment trust’s stock valued at $2,662,000 after buying an additional 53,738 shares during the period.

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)

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