CubeSmart (CUBE) Raised to “Hold” at BidaskClub
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.
ILLEGAL ACTIVITY NOTICE: “CubeSmart (CUBE) Raised to “Hold” at BidaskClub” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/19/cubesmart-cube-raised-to-hold-at-bidaskclub.html.
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.
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.
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.