Raymond James Financial, Inc. downgraded shares of CubeSmart (NYSE:CUBE) from an outperform rating to a market perform rating in a research note released on Wednesday.

Several other equities analysts have also recently weighed in on the stock. Jefferies Group LLC set a $30.00 target price on shares of CubeSmart and gave the company a buy rating in a research note on Friday, August 18th. Zacks Investment Research raised shares of CubeSmart from a sell rating to a hold rating in a research report on Wednesday, May 3rd. KeyCorp reaffirmed a hold rating on shares of CubeSmart in a research report on Friday, August 25th. UBS AG cut shares of CubeSmart from an outperform rating to a market perform rating in a research report on Wednesday. Finally, Citigroup Inc. reaffirmed a neutral rating and set a $27.00 price objective (down from $29.00) on shares of CubeSmart in a research report on Thursday, May 11th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $28.57.

CubeSmart (NYSE CUBE) opened at 24.77 on Wednesday. CubeSmart has a 1-year low of $22.83 and a 1-year high of $28.61. The firm’s 50-day moving average is $24.13 and its 200-day moving average is $25.29. The stock has a market cap of $4.46 billion, a P/E ratio of 42.78 and a beta of 0.19.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $138.60 million during the quarter, compared to analysts’ expectations of $138.07 million. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. On average, analysts forecast that CubeSmart will post $0.69 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s dividend payout ratio (DPR) is currently 186.21%.

Several hedge funds have recently added to or reduced their stakes in CUBE. Koch Industries Inc. purchased a new stake in CubeSmart during the second quarter valued at $366,000. Westwood Holdings Group Inc. raised its position in shares of CubeSmart by 0.9% in the second quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 155 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 370 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of CubeSmart during the second quarter valued at about $286,000. Finally, Clinton Group Inc. raised its position in shares of CubeSmart by 94.3% in the second quarter. Clinton Group Inc. now owns 110,715 shares of the real estate investment trust’s stock valued at $2,662,000 after buying an additional 53,738 shares during the period.

About CubeSmart

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.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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