CubeSmart (NYSE:CUBE) Lowered to Hold at Zacks Investment Research

CubeSmart (NYSE:CUBE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 2nd.

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. “

Other equities analysts have also recently issued research reports about the company. B. Riley set a $32.00 target price on CubeSmart and gave the company a “buy” rating in a research note on Tuesday, November 14th. FBR & Co reaffirmed a “buy” rating and set a $32.00 target price on shares of CubeSmart in a research note on Friday, October 27th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $28.00 target price on shares of CubeSmart in a research note on Thursday, October 26th. Jefferies Group reaffirmed a “buy” rating and set a $30.00 target price on shares of CubeSmart in a research note on Tuesday, October 24th. Finally, BidaskClub raised CubeSmart from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $29.00.

CubeSmart (NYSE CUBE) opened at $27.30 on Tuesday. The firm has a market capitalization of $5,006.80, a PE ratio of 41.36, a P/E/G ratio of 3.40 and a beta of 0.22. CubeSmart has a 12 month low of $22.83 and a 12 month high of $29.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07.

In other news, SVP Jonathan L. Perry sold 20,270 shares of CubeSmart stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $29.37, for a total transaction of $595,329.90. Following the completion of the sale, the senior vice president now directly owns 67,197 shares in the company, valued at approximately $1,973,575.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher P. Marr sold 6,000 shares of CubeSmart stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $29.33, for a total value of $175,980.00. Following the sale, the chief executive officer now owns 410,138 shares of the company’s stock, valued at $12,029,347.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,425 shares of company stock valued at $4,915,172. 1.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its holdings in 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 worth $42,855,000 after purchasing an additional 168,284 shares during the last quarter. Prudential Financial Inc. lifted its holdings in CubeSmart by 2.9% in the 3rd quarter. Prudential Financial Inc. now owns 3,051,854 shares of the real estate investment trust’s stock worth $79,226,000 after purchasing an additional 84,926 shares during the last quarter. Northern Trust Corp increased its position in 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 worth $42,018,000 after buying an additional 113,864 shares during the period. Numeric Investors LLC bought a new position in CubeSmart in the 2nd quarter worth approximately $1,231,000. Finally, AMP Capital Investors Ltd increased its position in CubeSmart by 77.8% in the 3rd quarter. AMP Capital Investors Ltd now owns 113,841 shares of the real estate investment trust’s stock worth $2,955,000 after buying an additional 49,800 shares during the period.

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About CubeSmart

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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