Zacks Investment Research upgraded shares of CubeSmart (NYSE:CUBE) from a hold rating to a buy rating in a research report released on Monday morning, Zacks.com reports. The brokerage currently has $39.00 target price on the real estate investment trust’s stock.

According to Zacks, “CubeSmart is a self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self storage facilities in the United States. Its self storage facilities are designed to offer storage space for residential and commercial customers. CubeSmart, formally known as U-Store-It Trust, is based in Wayne, Pennsylvania. “

Several other analysts have also recently weighed in on CUBE. Stifel Nicolaus started coverage on shares of CubeSmart in a research note on Monday. They set a hold rating and a $35.00 price objective on the stock. ValuEngine cut shares of CubeSmart from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Bank of America cut shares of CubeSmart from a buy rating to a neutral rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $32.20.

Shares of CubeSmart stock opened at $35.27 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 6.44 and a beta of 0.19. CubeSmart has a 1-year low of $27.19 and a 1-year high of $35.73. The firm’s 50-day moving average price is $34.51 and its two-hundred day moving average price is $32.76.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data 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). The firm had revenue of $159.00 million for the quarter, compared to the consensus estimate of $158.86 million. CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. CubeSmart’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, equities research analysts predict that CubeSmart will post 1.67 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.63%. CubeSmart’s dividend payout ratio (DPR) is currently 78.05%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new stake in shares of CubeSmart during the second quarter valued at approximately $32,000. Advisory Services Network LLC grew its stake in shares of CubeSmart by 200.0% during the first quarter. Advisory Services Network LLC now owns 1,500 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of CubeSmart during the second quarter valued at approximately $51,000. Quadrant Capital Group LLC grew its stake in shares of CubeSmart by 1,473.8% during the first quarter. Quadrant Capital Group LLC now owns 2,880 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 2,697 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of CubeSmart during the first quarter valued at approximately $96,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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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