According to Zacks, “CubeSmart is a self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self storage facilities in the United States. Its self storage facilities are designed to offer storage space for residential and commercial customers. CubeSmart, formally known as U-Store-It Trust, is based in Wayne, Pennsylvania. “
Several other equities research analysts have also recently issued reports on the stock. FBR & Co set a $35.00 price objective on shares of CubeSmart and gave the stock a buy rating in a research report on Sunday, September 18th. Cantor Fitzgerald reaffirmed a buy rating on shares of CubeSmart in a research note on Friday, August 26th. Jefferies Group lowered their target price on shares of CubeSmart from $39.00 to $37.00 and set a buy rating for the company in a research note on Wednesday, August 10th. Evercore ISI lowered shares of CubeSmart from a buy rating to a hold rating in a research note on Tuesday, August 9th. Finally, SunTrust Banks Inc. lowered shares of CubeSmart from a buy rating to a neutral rating and lowered their target price for the stock from $37.00 to $33.00 in a research note on Monday, July 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $33.55.
CubeSmart (NYSE:CUBE) opened at 26.15 on Wednesday. The company’s 50 day moving average is $27.11 and its 200 day moving average is $29.73. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 53.04 and a beta of 0.47. CubeSmart has a 1-year low of $25.40 and a 1-year high of $33.52.
CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. CubeSmart had a net margin of 19.26% and a return on equity of 5.57%. The firm earned $126.53 million during the quarter, compared to analysts’ expectations of $124.94 million. During the same period last year, the business earned $0.31 earnings per share. CubeSmart’s revenue was up 15.2% compared to the same quarter last year. Equities research analysts forecast that CubeSmart will post $1.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, September 29th. CubeSmart’s payout ratio is 171.43%.
In related news, Director William M. Diefenderfer III sold 2,961 shares of CubeSmart stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $27.25, for a total value of $80,687.25. Following the completion of the transaction, the director now owns 128,486 shares in the company, valued at $3,501,243.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CUBE. Advisor Group Inc. purchased a new position in shares of CubeSmart during the second quarter worth about $103,000. PNC Financial Services Group Inc. increased its position in shares of CubeSmart by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 5,018 shares of the company’s stock worth $155,000 after buying an additional 581 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of CubeSmart by 5.0% in the second quarter. Neuberger Berman Group LLC now owns 6,770 shares of the company’s stock worth $209,000 after buying an additional 324 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new position in shares of CubeSmart during the second quarter worth about $255,000. Finally, Pacad Investment Ltd. purchased a new position in shares of CubeSmart during the first quarter worth about $263,000.
CubeSmart operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s operations are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Company is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.
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