Shares of CubeSmart (NYSE:CUBE) have been given an average rating of “Hold” by the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $28.75.
A number of research firms recently commented on CUBE. BMO Capital Markets began coverage on CubeSmart in a report on Tuesday, July 21st. They issued a “sell” rating and a $30.00 price target on the stock. SunTrust Banks lowered their price target on CubeSmart from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Friday, April 17th. Raymond James boosted their price target on CubeSmart from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Citigroup lowered their price target on CubeSmart from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Zacks Investment Research cut CubeSmart from a “hold” rating to a “sell” rating in a report on Tuesday, July 21st.
CUBE stock opened at $29.67 on Tuesday. CubeSmart has a twelve month low of $19.61 and a twelve month high of $36.32. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.08. The stock has a market cap of $5.74 billion, a P/E ratio of 17.56, a PEG ratio of 11.71 and a beta of 0.28. The business’s 50-day moving average price is $27.72 and its 200-day moving average price is $28.14.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.20). CubeSmart had a net margin of 26.18% and a return on equity of 9.53%. The company had revenue of $164.08 million for the quarter, compared to analysts’ expectations of $162.56 million. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that CubeSmart will post 1.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Wednesday, September 30th. CubeSmart’s dividend payout ratio is currently 78.11%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUBE. Capital Square LLC bought a new position in shares of CubeSmart during the 1st quarter valued at approximately $27,000. Tower Research Capital LLC TRC grew its position in CubeSmart by 3,943.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,213 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,183 shares during the last quarter. CWM Advisors LLC bought a new position in CubeSmart in the 1st quarter valued at $46,000. Van ECK Associates Corp grew its position in CubeSmart by 108.7% in the 1st quarter. Van ECK Associates Corp now owns 2,362 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 1,230 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in CubeSmart by 34.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,050 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 780 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.
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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