CubeSmart (CUBE) Receives Buy Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their buy rating on shares of CubeSmart (NYSE:CUBE) in a research report sent to investors on Thursday morning. They currently have a $28.00 price objective on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on CUBE. BidaskClub raised CubeSmart from a strong sell rating to a sell rating in a research note on Wednesday, July 5th. Bank of America Corporation downgraded CubeSmart from a neutral rating to an underperform rating and cut their price target for the company from $27.75 to $25.00 in a research note on Thursday, July 20th. Zacks Investment Research downgraded CubeSmart from a hold rating to a sell rating in a research note on Friday, July 21st. Jefferies Group LLC set a $30.00 price target on CubeSmart and gave the company a buy rating in a research note on Friday, August 18th. Finally, KeyCorp reissued a hold rating on shares of CubeSmart in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $27.67.

Shares of CubeSmart (NYSE CUBE) traded up 3.99% during trading on Thursday, hitting $26.82. The company had a trading volume of 3,982,840 shares. The firm has a 50 day moving average of $26.11 and a 200 day moving average of $25.13. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.06. The stock has a market cap of $4.83 billion, a PE ratio of 46.32 and a beta of 0.19.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $138.60 million for the quarter, compared to the consensus estimate of $138.07 million. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. On average, analysts forecast that CubeSmart will post $0.69 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in shares of CubeSmart by 32.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 118,110 shares of the real estate investment trust’s stock valued at $2,838,000 after buying an additional 29,010 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of CubeSmart by 10.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,782,647 shares of the real estate investment trust’s stock valued at $42,855,000 after buying an additional 168,284 shares in the last quarter. State Street Corp increased its position in shares of CubeSmart by 1.9% in the 1st quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock valued at $144,956,000 after buying an additional 101,843 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of CubeSmart in the 1st quarter valued at $557,000. Finally, Northern Trust Corp increased its position in shares of CubeSmart by 7.0% in the 2nd quarter. Northern Trust Corp now owns 1,747,835 shares of the real estate investment trust’s stock valued at $42,018,000 after buying an additional 113,864 shares in the last quarter.

CubeSmart Company Profile

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.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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