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.
COPYRIGHT VIOLATION WARNING: “SunTrust Banks Analysts Give CubeSmart (CUBE) a $31.00 Price Target” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/15/cubesmart-cube-given-a-31-00-price-target-at-suntrust-banks.html.
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.
Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.