CubeSmart (NYSE:CUBE) has earned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $31.54.
CUBE has been the subject of a number of research analyst reports. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price target for the company in a research note on Thursday, November 15th. BMO Capital Markets lowered CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 9th. Zacks Investment Research lowered CubeSmart from a “buy” rating to a “hold” rating in a research note on Thursday, December 13th. Finally, ValuEngine raised CubeSmart from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th.
Shares of CubeSmart stock opened at $29.60 on Tuesday. CubeSmart has a 52-week low of $25.96 and a 52-week high of $33.18. The company has a market capitalization of $5.68 billion, a PE ratio of 18.62, a PEG ratio of 3.11 and a beta of 0.31. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.97.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, February 21st. The real estate investment trust reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. CubeSmart had a return on equity of 9.34% and a net margin of 26.43%. The company had revenue of $134.74 million during the quarter, compared to analyst estimates of $154.27 million. During the same quarter last year, the firm posted $0.41 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, analysts predict that CubeSmart will post 1.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.32%. The ex-dividend date is Friday, March 29th. CubeSmart’s dividend payout ratio is currently 80.50%.
A number of institutional investors have recently made changes to their positions in the business. APG Asset Management N.V. lifted its position in CubeSmart by 215.7% during the fourth quarter. APG Asset Management N.V. now owns 96,600 shares of the real estate investment trust’s stock valued at $2,424,000 after buying an additional 66,000 shares during the period. UBS Oconnor LLC purchased a new position in CubeSmart during the fourth quarter valued at $574,000. Millennium Management LLC lifted its position in CubeSmart by 1.4% during the fourth quarter. Millennium Management LLC now owns 2,640,480 shares of the real estate investment trust’s stock valued at $75,755,000 after buying an additional 36,275 shares during the period. Macquarie Group Ltd. lifted its position in CubeSmart by 25.3% during the fourth quarter. Macquarie Group Ltd. now owns 513,914 shares of the real estate investment trust’s stock valued at $14,744,000 after buying an additional 103,927 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in CubeSmart by 164.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 155,398 shares of the real estate investment trust’s stock valued at $4,458,000 after buying an additional 96,726 shares during the period.
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 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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