BMO Capital Markets reissued their market perform rating on shares of CubeSmart (NYSE:CUBE) in a report issued on Monday morning, Marketbeat.com reports. They currently have a $27.00 target price on the real estate investment trust’s stock.
CUBE has been the topic of several other reports. BidaskClub upgraded shares of CubeSmart from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. Cantor Fitzgerald decreased their price objective on shares of CubeSmart from $30.00 to $29.00 and set an overweight rating on the stock in a research report on Monday, May 22nd. Jefferies Group LLC set a $30.00 price objective on shares of CubeSmart and gave the company a buy rating in a research report on Friday, August 18th. Raymond James Financial, Inc. downgraded shares of CubeSmart from an outperform rating to a market perform rating in a research report on Wednesday, August 30th. Finally, Bank of America Corporation downgraded shares of CubeSmart from a neutral rating to an underperform rating and decreased their price objective for the company from $27.75 to $25.00 in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $28.29.
CubeSmart (NYSE:CUBE) opened at 25.54 on Monday. The company has a 50-day moving average of $24.64 and a 200 day moving average of $25.20. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 44.11 and a beta of 0.17. CubeSmart has a 12 month low of $22.83 and a 12 month high of $28.47.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $138.60 million for the quarter, compared to the consensus estimate of $138.07 million. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts anticipate that CubeSmart will post $0.69 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid 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 yield of 4.23%. CubeSmart’s payout ratio is 186.21%.
A number of institutional investors and hedge funds have recently bought and sold shares of CUBE. BlackRock Inc. grew its stake in CubeSmart by 4,480.2% during the first quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock valued at $314,886,000 after acquiring an additional 11,864,899 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in CubeSmart by 62.1% during the second quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock valued at $152,041,000 after acquiring an additional 2,423,464 shares in the last quarter. OppenheimerFunds Inc. grew its stake in CubeSmart by 155.8% during the first quarter. OppenheimerFunds Inc. now owns 3,449,763 shares of the real estate investment trust’s stock valued at $89,555,000 after acquiring an additional 2,101,363 shares in the last quarter. Bank of New York Mellon Corp grew its stake in CubeSmart by 12.9% during the second quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock valued at $280,612,000 after acquiring an additional 1,335,665 shares in the last quarter. Finally, Kempen Capital Management N.V. grew its stake in CubeSmart by 962.3% during the second quarter. Kempen Capital Management N.V. now owns 1,182,549 shares of the real estate investment trust’s stock valued at $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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