CubeSmart (NYSE:CUBE)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $35.30 and last traded at $35.06, with a volume of 186467 shares. The stock had previously closed at $35.04.
A number of equities research analysts recently issued reports on the company. Bank of America downgraded CubeSmart from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. ValuEngine downgraded CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $31.44.
The business has a 50-day moving average of $34.13. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 6.30 and a beta of 0.19.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.15). CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. The business had revenue of $159.00 million for the quarter, compared to the consensus estimate of $158.86 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that CubeSmart will post 1.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, September 30th. CubeSmart’s payout ratio is presently 78.05%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. bought a new stake in CubeSmart during the second quarter worth $32,000. Advisory Services Network LLC lifted its stake in CubeSmart by 200.0% during the first quarter. Advisory Services Network LLC now owns 1,500 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in CubeSmart by 1,473.8% during the first quarter. Quadrant Capital Group LLC now owns 2,880 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 2,697 shares during the last quarter. Penserra Capital Management LLC bought a new stake in CubeSmart during the first quarter worth $96,000. Finally, Advisor Group Inc. lifted its stake in CubeSmart by 36.3% during the second quarter. Advisor Group Inc. now owns 3,418 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.
About CubeSmart (NYSE:CUBE)
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.
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