ValuEngine Lowers CubeSmart (CUBE) to Hold

ValuEngine cut shares of CubeSmart (NYSE:CUBE) from a buy rating to a hold rating in a report issued on Tuesday.

A number of other analysts also recently issued reports on CUBE. Cantor Fitzgerald set a $31.00 price target on shares of CubeSmart and gave the stock a buy rating in a report on Friday, March 9th. BMO Capital Markets raised shares of CubeSmart from a market perform rating to an outperform rating and increased their price objective for the company from $27.00 to $30.00 in a report on Friday, March 2nd. SunTrust Banks set a $31.00 price objective on shares of CubeSmart and gave the company a hold rating in a report on Monday, January 22nd. B. Riley set a $32.00 price objective on shares of CubeSmart and gave the company a buy rating in a report on Thursday, February 15th. Finally, Zacks Investment Research raised shares of CubeSmart from a sell rating to a hold rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $30.00.

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Shares of NYSE CUBE opened at $27.59 on Tuesday. CubeSmart has a 1 year low of $22.83 and a 1 year high of $29.79. The firm has a market cap of $5,158.46, a P/E ratio of 17.35, a PEG ratio of 3.61 and a beta of 0.09. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.00.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. CubeSmart had a net margin of 24.02% and a return on equity of 8.39%. The firm had revenue of $143.48 million for the quarter, compared to the consensus estimate of $143.18 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. research analysts anticipate that CubeSmart will post 1.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Monday, April 2nd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 29th. CubeSmart’s payout ratio is 75.47%.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of CubeSmart by 3.5% in the fourth quarter. BlackRock Inc. now owns 13,259,542 shares of the real estate investment trust’s stock worth $383,466,000 after buying an additional 453,261 shares in the last quarter. Millennium Management LLC lifted its stake in shares of CubeSmart by 76.0% in the fourth quarter. Millennium Management LLC now owns 4,535,494 shares of the real estate investment trust’s stock worth $131,166,000 after buying an additional 1,958,563 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of CubeSmart by 2.9% in the third quarter. Prudential Financial Inc. now owns 3,051,854 shares of the real estate investment trust’s stock worth $79,226,000 after buying an additional 84,926 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CubeSmart by 4.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,661,835 shares of the real estate investment trust’s stock worth $69,101,000 after buying an additional 114,753 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of CubeSmart by 9.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,079,742 shares of the real estate investment trust’s stock worth $60,147,000 after buying an additional 174,689 shares in the last quarter.

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About CubeSmart

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 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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