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.
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%.
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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.
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