CubeSmart (NYSE:CUBE) Stock Rating Reaffirmed by BMO Capital Markets

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.

COPYRIGHT VIOLATION NOTICE: “CubeSmart (NYSE:CUBE) Stock Rating Reaffirmed by BMO Capital Markets” was first posted by BBNS and is owned by of BBNS. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://baseballnewssource.com/markets/bmo-capital-markets-reiterates-market-perform-rating-for-cubesmart-cube/1634490.html.

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.

About CubeSmart

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.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with our FREE daily email newsletter.

 


Latest News

American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22


Leave a Reply

 
© 2006-2017 BBNS.