BMO Capital Markets restated their market perform rating on shares of CubeSmart (NYSE:CUBE) in a research note published on Monday, September 11th, MarketBeat reports. The firm currently has a $27.00 target price on the real estate investment trust’s stock.
A number of other equities analysts also recently commented on CUBE. Zacks Investment Research downgraded CubeSmart from a hold rating to a sell rating in a research report on Monday, July 31st. BidaskClub upgraded CubeSmart from a strong sell rating to a sell rating in a research report on Thursday, September 7th. Raymond James Financial, Inc. downgraded CubeSmart from an outperform rating to a market perform rating in a report on Wednesday, August 30th. KeyCorp reiterated a hold rating on shares of CubeSmart in a report on Friday, August 25th. Finally, Jefferies Group LLC set a $30.00 price objective on CubeSmart and gave the company a buy rating in a report on Friday, August 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $28.25.
CubeSmart (NYSE CUBE) opened at 26.43 on Monday. The firm has a market cap of $4.76 billion, a P/E ratio of 45.65 and a beta of 0.17. The firm’s 50-day moving average is $24.92 and its 200 day moving average is $25.16. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.47.
CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $138.60 million for the quarter, compared to analyst estimates of $138.07 million. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. Equities analysts forecast that CubeSmart will post $0.69 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s dividend payout ratio is presently 186.21%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in CubeSmart by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 27,937,327 shares of the real estate investment trust’s stock valued at $725,254,000 after acquiring an additional 735,099 shares during the last quarter. BlackRock Inc. grew its holdings in shares of CubeSmart by 5.4% in the 2nd quarter. BlackRock Inc. now owns 12,780,418 shares of the real estate investment trust’s stock worth $307,242,000 after acquiring an additional 650,691 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of CubeSmart by 12.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock worth $280,612,000 after acquiring an additional 1,335,665 shares during the period. Lasalle Investment Management Securities LLC grew its holdings in shares of CubeSmart by 5.9% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 10,264,646 shares of the real estate investment trust’s stock worth $246,762,000 after acquiring an additional 569,240 shares during the period. Finally, Cbre Clarion Securities LLC grew its holdings in shares of CubeSmart by 62.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock worth $152,041,000 after acquiring an additional 2,423,464 shares during the period.
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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