CubeSmart (NYSE:CUBE)‘s stock had its “neutral” rating reissued by analysts at Citigroup Inc in a research note issued to investors on Thursday, May 11th. They currently have a $27.00 price target on the real estate investment trust’s stock, down from their previous price target of $29.00. Citigroup Inc’s price target points to a potential upside of 10.20% from the stock’s previous close.
A number of other analysts have also recently weighed in on CUBE. Zacks Investment Research raised CubeSmart from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $31.00 price objective on shares of CubeSmart in a research report on Tuesday, April 18th. BMO Capital Markets set a $29.00 price target on CubeSmart and gave the stock a “buy” rating in a research report on Wednesday, March 22nd. Finally, Bank of America Corp lowered CubeSmart from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Friday, January 20th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.40.
CubeSmart (NYSE:CUBE) opened at 24.50 on Thursday. The company has a market cap of $4.41 billion, a P/E ratio of 48.42 and a beta of 0.27. The firm has a 50-day moving average price of $25.58 and a 200 day moving average price of $25.93. CubeSmart has a 52 week low of $23.65 and a 52 week high of $32.13.
CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. CubeSmart had a return on equity of 5.84% and a net margin of 19.93%. The company had revenue of $133 million for the quarter, compared to the consensus estimate of $133.30 million. During the same period last year, the business posted $0.32 EPS. CubeSmart’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts expect that CubeSmart will post $0.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, June 29th. This represents a $1.08 annualized dividend and a yield of 4.41%. CubeSmart’s dividend payout ratio (DPR) is currently 207.70%.
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A number of large investors have recently bought and sold shares of CUBE. Vanguard Group Inc. raised its stake in CubeSmart by 2.7% in the first quarter. Vanguard Group Inc. now owns 27,937,327 shares of the real estate investment trust’s stock valued at $725,254,000 after buying an additional 735,099 shares during the period. BlackRock Inc. boosted its position in shares of CubeSmart by 4,480.2% in the first quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock valued at $314,886,000 after buying an additional 11,864,899 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CubeSmart by 43.5% in the first quarter. Bank of New York Mellon Corp now owns 10,337,011 shares of the real estate investment trust’s stock valued at $268,349,000 after buying an additional 3,135,371 shares in the last quarter. State Street Corp boosted its position in shares of CubeSmart by 1.9% in the first quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock valued at $144,956,000 after buying an additional 101,843 shares in the last quarter. Finally, Security Capital Research & Management Inc. boosted its position in shares of CubeSmart by 258.6% in the third quarter. Security Capital Research & Management Inc. now owns 3,695,050 shares of the real estate investment trust’s stock valued at $100,727,000 after buying an additional 2,664,542 shares in the last quarter. Institutional investors own 99.91% of the company’s stock.
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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