UBS AG Lowers CubeSmart (CUBE) to Market Perform
UBS AG downgraded shares of CubeSmart (NYSE:CUBE) from an outperform rating to a market perform rating in a report released on Wednesday morning, The Fly reports.
CUBE has been the subject of a number of other research 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 cut their target price on shares of CubeSmart from $30.00 to $29.00 and set an overweight rating for the company in a research report on Monday, May 22nd. Citigroup Inc. restated a neutral rating and issued a $27.00 price objective (down from $29.00) on shares of CubeSmart in a research report on Thursday, May 11th. 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. Finally, Zacks Investment Research upgraded shares of CubeSmart from a sell rating to a hold rating in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $28.57.
Shares of CubeSmart (NYSE CUBE) opened at 24.84 on Wednesday. The firm has a 50-day moving average of $24.35 and a 200 day moving average of $25.25. The firm has a market cap of $4.48 billion, a PE ratio of 42.90 and a beta of 0.18. CubeSmart has a 52 week low of $22.83 and a 52 week high of $28.47.
CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $138.60 million during 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 company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Equities research analysts predict that CubeSmart will post $0.69 EPS 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 $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s dividend payout ratio is currently 186.21%.
A number of large investors have recently made changes to their positions in CUBE. Koch Industries Inc. bought a new stake in shares of CubeSmart during the second quarter worth $366,000. Westwood Holdings Group Inc. increased its stake in shares of CubeSmart by 0.9% in the second quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 155 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of CubeSmart by 7.4% in 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 buying an additional 370 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of CubeSmart during the second quarter worth $286,000. Finally, Clinton Group Inc. increased its stake in shares of CubeSmart by 94.3% in the second quarter. Clinton Group Inc. now owns 110,715 shares of the real estate investment trust’s stock worth $2,662,000 after buying an additional 53,738 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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