CubeSmart (CUBE) Rating Lowered to Strong Sell at BidaskClub
BidaskClub downgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, August 1st.
Other analysts also recently issued reports about the company. Cantor Fitzgerald lowered their target price on CubeSmart from $30.00 to $29.00 and set an overweight rating for the company in a research note on Monday, May 22nd. Zacks Investment Research downgraded CubeSmart from a hold rating to a sell rating in a research note on Monday, July 31st. Citigroup Inc. restated a neutral rating and set a $27.00 target price (down from $29.00) on shares of CubeSmart in a research note on Thursday, May 11th. Bank of America Corporation downgraded CubeSmart from a neutral rating to an underperform rating and lowered their target price for the company from $27.75 to $25.00 in a research note on Thursday, July 20th. Finally, Jefferies Group LLC restated a buy rating and set a $31.00 target price on shares of CubeSmart in a research note on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $28.71.
Shares of CubeSmart (NYSE CUBE) traded down 0.78% during mid-day trading on Tuesday, reaching $24.17. The company’s stock had a trading volume of 1,311,389 shares. CubeSmart has a 52 week low of $22.83 and a 52 week high of $28.61. The firm has a market capitalization of $4.36 billion, a PE ratio of 41.74 and a beta of 0.19. The firm has a 50-day moving average of $24.08 and a 200-day moving average of $25.37.
CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $138.60 million during the quarter, compared to the consensus estimate of $138.07 million. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. 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 earnings per share. Equities research analysts forecast that CubeSmart will post $0.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given 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 dividend yield of 4.47%. CubeSmart’s payout ratio is 186.21%.
Institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. boosted its position in shares of CubeSmart by 1.6% in the second quarter. D.A. Davidson & CO. now owns 10,401 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 164 shares during the last quarter. Commonwealth Bank of Australia boosted its position in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 283 shares during the last quarter. GAM Holding AG boosted its position in shares of CubeSmart by 2.5% in the second quarter. GAM Holding AG now owns 15,359 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 369 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of CubeSmart by 0.5% in the second quarter. Great West Life Assurance Co. Can now owns 105,874 shares of the real estate investment trust’s stock valued at $2,543,000 after buying an additional 541 shares during the last quarter. Finally, Utah Retirement Systems boosted its position in shares of CubeSmart by 1.9% in the first quarter. Utah Retirement Systems now owns 36,700 shares of the real estate investment trust’s stock valued at $953,000 after buying an additional 700 shares during 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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