BMO Capital Markets downgraded shares of CubeSmart (NYSE:CUBE) from an outperform rating to a market perform rating in a research report report published on Wednesday, The Fly reports.
CUBE has been the topic of several other research reports. Zacks Investment Research downgraded CubeSmart from a buy rating to a hold rating in a research note on Thursday, December 13th. ValuEngine upgraded CubeSmart from a hold rating to a buy rating in a research note on Tuesday, November 20th. Bank of America upgraded CubeSmart from a neutral rating to a buy rating and set a $25.22 target price for the company in a research note on Thursday, November 15th. Finally, Citigroup lowered their price target on shares of CubeSmart from $33.00 to $29.00 and set a hold rating for the company in a report on Friday, October 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $31.91.
CUBE stock traded down $0.09 during mid-day trading on Wednesday, hitting $28.70. The stock had a trading volume of 1,063,121 shares, compared to its average volume of 1,630,253. The firm has a market cap of $5.29 billion, a P/E ratio of 18.05, a PEG ratio of 2.79 and a beta of 0.24. CubeSmart has a 1-year low of $25.22 and a 1-year high of $33.18. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.04 and a quick ratio of 0.04.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.18). CubeSmart had a return on equity of 9.34% and a net margin of 26.43%. The firm had revenue of $153.37 million during the quarter, compared to the consensus estimate of $150.76 million. As a group, research analysts expect that CubeSmart will post 1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be given a dividend of $0.32 per share. This is an increase from CubeSmart’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, December 31st. This represents a $1.28 dividend on an annualized basis and a yield of 4.46%. CubeSmart’s dividend payout ratio is 80.50%.
Several hedge funds and other institutional investors have recently made changes to their positions in CUBE. Alliancebernstein L.P. lifted its position in CubeSmart by 170.7% during the third quarter. Alliancebernstein L.P. now owns 9,565,516 shares of the real estate investment trust’s stock valued at $272,904,000 after purchasing an additional 6,031,338 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of CubeSmart by 77.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,910,336 shares of the real estate investment trust’s stock worth $111,561,000 after buying an additional 1,707,863 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in CubeSmart in the 3rd quarter worth approximately $20,529,000. Vanguard Group Inc boosted its stake in CubeSmart by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 28,282,874 shares of the real estate investment trust’s stock worth $806,910,000 after purchasing an additional 603,875 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in CubeSmart by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 28,282,874 shares of the real estate investment trust’s stock valued at $806,910,000 after acquiring an additional 603,875 shares during the period.
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.
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