BidaskClub upgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a hold rating in a report released on Saturday morning.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of CubeSmart from a hold rating to a sell rating in a research report on Friday, July 21st. BMO Capital Markets reissued a market perform rating and set a $27.00 price objective on shares of CubeSmart in a research report on Monday, September 11th. Bank of America Corporation downgraded shares of CubeSmart from a neutral rating to an underperform rating and lowered their price objective for the stock from $27.75 to $25.00 in a research report on Thursday, July 20th. UBS AG downgraded shares of CubeSmart from an outperform rating to a market perform rating in a research report on Wednesday, August 30th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. CubeSmart presently has a consensus rating of Hold and an average price target of $28.25.
CubeSmart (NYSE CUBE) traded up 1.31% during trading on Friday, reaching $26.31. 2,125,958 shares of the company were exchanged. The firm has a 50-day moving average of $24.80 and a 200-day moving average of $25.20. CubeSmart has a 52-week low of $22.83 and a 52-week high of $28.47. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 45.44 and a beta of 0.17.
CubeSmart (NYSE:CUBE) last issued its earnings results 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. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The firm had revenue of $138.60 million during the quarter, compared to the consensus estimate of $138.07 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that CubeSmart will post $0.69 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.10%. The ex-dividend date is Friday, September 29th. CubeSmart’s payout ratio is 186.21%.
A number of institutional investors and hedge funds have recently made changes to their positions in CUBE. The Manufacturers Life Insurance Company boosted its holdings in CubeSmart by 7.4% during 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 purchasing an additional 370 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in CubeSmart by 31.9% during 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 purchasing an additional 1,306 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in CubeSmart during the first quarter worth $149,000. Commonwealth Bank of Australia boosted its holdings in CubeSmart by 3.9% during the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 283 shares during the last quarter. Finally, Profund Advisors LLC acquired a new position in CubeSmart during the second quarter worth $214,000.
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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