SunTrust Banks Analysts Give CubeSmart (CUBE) a $31.00 Price Target

SunTrust Banks set a $31.00 price target on CubeSmart (NYSE:CUBE) in a research report report published on Monday, January 22nd. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on the stock. BidaskClub raised shares of CubeSmart from a hold rating to a buy rating in a report on Monday, October 23rd. Jefferies Group reaffirmed a buy rating and issued a $30.00 price target on shares of CubeSmart in a report on Tuesday, October 24th. Zacks Investment Research raised shares of CubeSmart from a hold rating to a buy rating and set a $33.00 price target on the stock in a report on Monday, December 18th. B. Riley set a $32.00 target price on shares of CubeSmart and gave the company a buy rating in a report on Tuesday, January 2nd. Finally, FBR & Co reissued a buy rating and set a $32.00 target price on shares of CubeSmart in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CubeSmart currently has an average rating of Hold and a consensus price target of $29.55.

CubeSmart (NYSE CUBE) traded down $0.43 during mid-day trading on Monday, reaching $26.05. The company’s stock had a trading volume of 2,130,651 shares, compared to its average volume of 1,620,000. The firm has a market cap of $4,710.00, a P/E ratio of 40.08, a P/E/G ratio of 2.85 and a beta of 0.13. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a fifty-two week low of $22.83 and a fifty-two week high of $29.79.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.20 annualized dividend and a yield of 4.61%. CubeSmart’s dividend payout ratio (DPR) is presently 184.62%.

In other CubeSmart news, SVP Jonathan L. Perry sold 20,270 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were 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 $1,973,575.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Timothy M. Martin sold 83,409 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total transaction of $2,445,551.88. Following the sale, the chief financial officer now owns 228,948 shares of the company’s stock, valued at $6,712,755.36. The disclosure for this sale can be found here. Insiders sold 167,425 shares of company stock valued at $4,915,172 over the last quarter. 1.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. American International Group Inc. purchased a new stake in CubeSmart during the fourth quarter valued at about $119,000. The Manufacturers Life Insurance Company boosted its position in CubeSmart by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 370 shares during the period. World Asset Management Inc bought a new position in shares of CubeSmart during the third quarter valued at about $200,000. Campbell & CO Investment Adviser LLC bought a new position in shares of CubeSmart during the third quarter valued at about $211,000. Finally, Profund Advisors LLC bought a new position in shares of CubeSmart during the second quarter valued at about $214,000.

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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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