Several other equities research analysts also recently commented on CUBE. BidaskClub raised CubeSmart from a strong sell rating to a sell rating in a report on Wednesday, July 19th. Bank of America Corporation downgraded CubeSmart from a neutral rating to an underperform rating and cut their price objective for the company from $27.75 to $25.00 in a report on Thursday, July 20th. Zacks Investment Research downgraded CubeSmart from a hold rating to a sell rating in a report on Friday, July 21st. 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. Finally, KeyCorp reissued a hold rating on shares of CubeSmart in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $28.10.
Shares of CubeSmart (NYSE:CUBE) opened at $29.08 on Tuesday. The company has a market capitalization of $5,320.00, a P/E ratio of 18.84, a PEG ratio of 3.77 and a beta of 0.20. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00. CubeSmart has a twelve month low of $22.83 and a twelve month high of $29.67.
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Institutional investors have recently made changes to their positions in the business. Cohen & Steers Inc. lifted its holdings in shares of CubeSmart by 349.3% during the third quarter. Cohen & Steers Inc. now owns 13,828,409 shares of the real estate investment trust’s stock worth $358,985,000 after buying an additional 10,750,476 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of CubeSmart by 5.4% during the second quarter. BlackRock Inc. now owns 12,780,418 shares of the real estate investment trust’s stock worth $307,242,000 after buying an additional 650,691 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CubeSmart by 8.2% during the third quarter. Bank of New York Mellon Corp now owns 12,630,827 shares of the real estate investment trust’s stock worth $327,897,000 after buying an additional 958,151 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its holdings in shares of CubeSmart by 5.9% during the second 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 buying an additional 569,240 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of CubeSmart by 5.2% during the third quarter. Principal Financial Group Inc. now owns 7,403,963 shares of the real estate investment trust’s stock worth $192,207,000 after buying an additional 363,927 shares in the last quarter.
CubeSmart Company Profile
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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