CubeSmart (NYSE:CUBE) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of CubeSmart (NYSE:CUBE) from a buy rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

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 analysts have also issued reports about the stock. ValuEngine lowered shares of CubeSmart from a buy rating to a hold rating in a research report on Thursday, August 1st. Bank of America lowered shares of CubeSmart from a buy rating to a neutral rating in a research report on Friday, July 19th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CubeSmart has a consensus rating of Hold and a consensus target price of $31.44.

Shares of CUBE stock opened at $35.24 on Friday. The company has a 50 day moving average price of $34.33 and a 200-day moving average price of $32.68. CubeSmart has a 52 week low of $27.19 and a 52 week high of $35.52. The firm has a market capitalization of $6.69 billion, a PE ratio of 21.49, a P/E/G ratio of 6.36 and a beta of 0.19. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.04.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.15). The company had revenue of $159.00 million during the quarter, compared to the consensus estimate of $158.86 million. CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Analysts anticipate that CubeSmart will post 1.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.32 per share. The ex-dividend date is Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 3.63%. CubeSmart’s dividend payout ratio (DPR) is 78.05%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its position in CubeSmart by 29.3% during the second quarter. Advisory Services Network LLC now owns 1,939 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 439 shares during the period. Eii Capital Management Inc. lifted its holdings in CubeSmart by 3.0% during the second quarter. Eii Capital Management Inc. now owns 22,404 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 649 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in CubeSmart by 5.6% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 12,798 shares of the real estate investment trust’s stock valued at $428,000 after purchasing an additional 676 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in CubeSmart by 12.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,203 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 691 shares in the last quarter. Finally, Creative Planning lifted its holdings in CubeSmart by 7.2% during the second quarter. Creative Planning now owns 10,355 shares of the real estate investment trust’s stock valued at $346,000 after purchasing an additional 699 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CubeSmart Company Profile

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 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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