Several other equities research analysts also recently commented on the company. Bank of America Corp downgraded CubeSmart from a buy rating to a neutral rating and set a $28.00 target price for the company. in a report on Friday, January 20th. Zacks Investment Research raised CubeSmart from a hold rating to a buy rating and set a $28.00 target price for the company in a report on Wednesday, November 30th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. CubeSmart has an average rating of Hold and an average target price of $32.10.
Shares of CubeSmart (NYSE:CUBE) opened at 26.50 on Wednesday. The stock has a market cap of $4.77 billion, a PE ratio of 59.15 and a beta of 0.27. CubeSmart has a one year low of $23.65 and a one year high of $33.52. The stock’s 50 day moving average price is $26.42 and its 200-day moving average price is $26.13.
CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 16th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. CubeSmart had a return on equity of 5.84% and a net margin of 19.93%. The business earned $132.50 million during the quarter, compared to the consensus estimate of $131.57 million. During the same period in the prior year, the business posted $0.33 earnings per share. CubeSmart’s revenue was up 15.2% compared to the same quarter last year. On average, equities analysts predict that CubeSmart will post $0.62 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.08%. The ex-dividend date is Thursday, March 30th. CubeSmart’s dividend payout ratio is currently 207.70%.
A number of large investors have recently made changes to their positions in CUBE. Security Capital Research & Management Inc. increased its stake in shares of CubeSmart by 258.6% in the third quarter. Security Capital Research & Management Inc. now owns 3,695,050 shares of the company’s stock valued at $100,727,000 after buying an additional 2,664,542 shares in the last quarter. Shinko Asset Management Co. Ltd. increased its stake in shares of CubeSmart by 76.1% in the third quarter. Shinko Asset Management Co. Ltd. now owns 3,874,778 shares of the company’s stock valued at $105,626,000 after buying an additional 1,673,903 shares in the last quarter. Norges Bank acquired a new stake in shares of CubeSmart during the fourth quarter valued at about $43,091,000. TimesSquare Capital Management LLC acquired a new stake in shares of CubeSmart during the third quarter valued at about $34,244,000. Finally, Commonwealth Bank of Australia acquired a new stake in shares of CubeSmart during the third quarter valued at about $33,142,000. 99.91% of the stock is owned by hedge funds and other institutional investors.
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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