CubeSmart (CUBE) Rating Lowered to Market Perform at BMO Capital Markets

CubeSmart (NYSE:CUBE) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, The Fly reports.

Several other research firms have also recently weighed in on CUBE. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, December 11th. ValuEngine raised CubeSmart from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price objective on the stock in a research report on Thursday, November 15th. Finally, Citigroup cut their price objective on CubeSmart from $33.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday, October 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.91.

CUBE stock traded down $0.06 during midday trading on Wednesday, hitting $28.73. The company’s stock had a trading volume of 133,971 shares, compared to its average volume of 1,442,115. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.97. CubeSmart has a 1 year low of $25.22 and a 1 year high of $33.18. The stock has a market cap of $5.29 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.79 and a beta of 0.24.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.18). CubeSmart had a return on equity of 9.34% and a net margin of 26.43%. The business had revenue of $153.37 million during the quarter, compared to analysts’ expectations of $150.76 million. As a group, analysts forecast that CubeSmart will post 1.64 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CUBE. Contravisory Investment Management Inc. purchased a new position in shares of CubeSmart during the 3rd quarter valued at $125,000. Centaurus Financial Inc. purchased a new position in shares of CubeSmart during the 2nd quarter valued at $154,000. PNC Financial Services Group Inc. lifted its position in shares of CubeSmart by 198.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,548 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 3,686 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of CubeSmart during the 3rd quarter valued at $199,000. Finally, Alps Advisors Inc. purchased a new position in shares of CubeSmart during the 3rd quarter valued at $223,000.

CubeSmart Company Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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