CubeSmart’s (CUBE) Neutral Rating Reiterated at Citigroup Inc.

CubeSmart (NYSE:CUBE)‘s stock had its “neutral” rating restated by investment analysts at Citigroup Inc. in a report released on Thursday, May 11th. They currently have a $27.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $29.00. Citigroup Inc.’s target price points to a potential upside of 10.11% from the company’s previous close.

A number of other research firms also recently commented on CUBE. Zacks Investment Research downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. BMO Capital Markets reissued a “buy” rating and issued a $29.00 price target on shares of CubeSmart in a research note on Friday, February 17th. Jefferies Group LLC reissued a “buy” rating and issued a $31.00 price target on shares of CubeSmart in a research note on Tuesday, April 18th. Finally, Bank of America Corporation cut shares of CubeSmart from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Friday, January 20th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $30.40.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

CubeSmart (CUBE) opened at 24.52 on Thursday. The company has a 50-day moving average price of $24.74 and a 200 day moving average price of $25.88. CubeSmart has a 52-week low of $23.65 and a 52-week high of $32.13. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 48.46 and a beta of 0.19.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The company had revenue of $133 million during the quarter, compared to the consensus estimate of $133.30 million. CubeSmart had a net margin of 18.53% and a return on equity of 5.80%. CubeSmart’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, analysts expect that CubeSmart will post $0.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, June 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.40%. CubeSmart’s payout ratio is currently 211.77%.

ILLEGAL ACTIVITY NOTICE: “CubeSmart’s (CUBE) Neutral Rating Reiterated at Citigroup Inc.” was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.com-unik.info/2017/06/17/cubesmart-cube-given-neutral-rating-at-citigroup-inc-updated-updated-updated.html.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in CubeSmart by 2.7% in the first quarter. Vanguard Group Inc. now owns 27,937,327 shares of the real estate investment trust’s stock worth $725,254,000 after buying an additional 735,099 shares during the last quarter. BlackRock Inc. raised its stake in CubeSmart by 4,480.2% in the first quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock worth $314,886,000 after buying an additional 11,864,899 shares during the period. Bank of New York Mellon Corp raised its stake in CubeSmart by 43.5% in the first quarter. Bank of New York Mellon Corp now owns 10,337,011 shares of the real estate investment trust’s stock worth $268,349,000 after buying an additional 3,135,371 shares during the period. State Street Corp raised its stake in CubeSmart by 1.9% in the first quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock worth $144,956,000 after buying an additional 101,843 shares during the period. Finally, Security Capital Research & Management Inc. raised its stake in CubeSmart by 258.6% in the third quarter. Security Capital Research & Management Inc. now owns 3,695,050 shares of the real estate investment trust’s stock worth $100,727,000 after buying an additional 2,664,542 shares during the period.

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.

What are top analysts saying about CubeSmart? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CubeSmart and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit