CubeSmart (NYSE:CUBE) has received an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $33.60.

Several brokerages have recently weighed in on CUBE. ValuEngine downgraded CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Monday. Bank of America cut CubeSmart from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus started coverage on CubeSmart in a research note on Monday. They issued a “hold” rating and a $35.00 price target on the stock.

Shares of NYSE CUBE traded down $0.25 on Tuesday, hitting $35.13. The company had a trading volume of 1,555,042 shares, compared to its average volume of 1,333,011. CubeSmart has a 12-month low of $27.19 and a 12-month high of $35.73. The business has a 50 day moving average of $34.44 and a two-hundred day moving average of $32.72. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $6.76 billion, a P/E ratio of 21.42, a PEG ratio of 6.44 and a beta of 0.19.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.15). CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. The company had revenue of $159.00 million during the quarter, compared to analysts’ expectations of $158.86 million. During the same period in the previous year, the company earned $0.41 EPS. CubeSmart’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that CubeSmart will post 1.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, September 30th. CubeSmart’s dividend payout ratio (DPR) is 78.05%.

Several large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its position in shares of CubeSmart by 29.3% during the 2nd quarter. Advisory Services Network LLC now owns 1,939 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 439 shares during the last quarter. Empire Life Investments Inc. increased its position in CubeSmart by 3.6% during the first quarter. Empire Life Investments Inc. now owns 16,409 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 570 shares during the last quarter. Eii Capital Management Inc. increased its position in CubeSmart by 3.0% during the second quarter. Eii Capital Management Inc. now owns 22,404 shares of the real estate investment trust’s stock worth $749,000 after buying an additional 649 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in CubeSmart by 5.6% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 12,798 shares of the real estate investment trust’s stock worth $428,000 after buying an additional 676 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of CubeSmart by 12.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,203 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 691 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

About CubeSmart

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 2019 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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Analyst Recommendations for CubeSmart (NYSE:CUBE)

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