Evercore ISI upgraded shares of CubeSmart (NYSE:CUBE) from an in-line rating to an outperform rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has $35.00 price target on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. SunTrust Banks set a $32.00 price target on CubeSmart and gave the company a hold rating in a report on Tuesday, August 7th. ValuEngine downgraded CubeSmart from a buy rating to a hold rating in a report on Thursday, August 2nd. Citigroup raised their price target on CubeSmart from $29.00 to $33.00 and gave the company a neutral rating in a report on Thursday, July 12th. Zacks Investment Research downgraded CubeSmart from a buy rating to a hold rating in a report on Thursday, July 12th. Finally, Bank of America raised their price target on CubeSmart from $33.00 to $34.00 and gave the company a neutral rating in a report on Monday, July 16th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $33.00.

NYSE CUBE opened at $30.37 on Monday. The company has a market capitalization of $5.60 billion, a PE ratio of 18.47, a P/E/G ratio of 3.67 and a beta of 0.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a 12 month low of $24.96 and a 12 month high of $33.18.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $147.82 million during the quarter, compared to the consensus estimate of $148.68 million. CubeSmart had a return on equity of 9.22% and a net margin of 25.89%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. sell-side analysts forecast that CubeSmart will post 1.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Friday, September 28th. CubeSmart’s payout ratio is 75.47%.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in CubeSmart by 4.1% during the 2nd quarter. BlackRock Inc. now owns 13,629,625 shares of the real estate investment trust’s stock worth $439,146,000 after buying an additional 537,665 shares during the period. Cbre Clarion Securities LLC increased its position in CubeSmart by 11.5% during the 2nd quarter. Cbre Clarion Securities LLC now owns 8,474,692 shares of the real estate investment trust’s stock worth $273,055,000 after buying an additional 875,279 shares during the period. Centersquare Investment Management LLC bought a new position in CubeSmart during the 1st quarter worth $230,409,000. Dimensional Fund Advisors LP increased its position in CubeSmart by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,807,221 shares of the real estate investment trust’s stock worth $90,451,000 after buying an additional 16,281 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in CubeSmart by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,375,763 shares of the real estate investment trust’s stock worth $76,548,000 after buying an additional 125,017 shares during the period.

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 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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Analyst Recommendations for CubeSmart (NYSE:CUBE)

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