CubeSmart (NYSE:CUBE) has been given a consensus recommendation of “Hold” by the nine brokerages that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $31.37.
A number of research analysts have issued reports on CUBE shares. Raymond James raised CubeSmart from a “market perform” rating to an “outperform” rating in a report on Thursday, March 21st. Zacks Investment Research downgraded CubeSmart from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. BMO Capital Markets reissued a “hold” rating and set a $30.00 price target on shares of CubeSmart in a research report on Sunday, February 24th. Finally, ValuEngine downgraded CubeSmart from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd.
In other CubeSmart news, VP Jeffrey P. Foster sold 5,958 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $32.55, for a total transaction of $193,932.90. Following the completion of the sale, the vice president now owns 124,739 shares of the company’s stock, valued at $4,060,254.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher P. Marr sold 60,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $31.51, for a total value of $1,890,600.00. Following the sale, the chief executive officer now directly owns 444,877 shares of the company’s stock, valued at approximately $14,018,074.27. The disclosure for this sale can be found here. Insiders have sold 177,773 shares of company stock valued at $5,657,530 in the last three months. 1.04% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Teachers Advisors LLC increased its stake in shares of CubeSmart by 1.7% during the 3rd quarter. Teachers Advisors LLC now owns 340,579 shares of the real estate investment trust’s stock worth $9,717,000 after purchasing an additional 5,702 shares during the last quarter. Vanguard Group Inc raised its holdings in CubeSmart by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 28,282,874 shares of the real estate investment trust’s stock valued at $806,910,000 after buying an additional 603,875 shares during the last quarter. We Are One Seven LLC bought a new stake in CubeSmart during the 4th quarter valued at $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CubeSmart by 2.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,583 shares of the real estate investment trust’s stock valued at $1,738,000 after buying an additional 1,668 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in CubeSmart during the 4th quarter valued at $318,000. 98.92% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE CUBE traded down $0.48 during mid-day trading on Thursday, hitting $33.14. The stock had a trading volume of 36,809 shares, compared to its average volume of 1,281,109. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.05. CubeSmart has a 1 year low of $27.19 and a 1 year high of $34.00. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 5.89 and a beta of 0.21.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, April 25th. The real estate investment trust reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. CubeSmart had a net margin of 28.02% and a return on equity of 9.67%. The firm had revenue of $152.85 million for the quarter, compared to the consensus estimate of $154.06 million. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that CubeSmart will post 1.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.86%. The ex-dividend date is Friday, June 28th. CubeSmart’s payout ratio is 78.05%.
CubeSmart Company Profile
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
See Also: Earnings Per Share
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