CubeSmart (CUBE) Receives $32.30 Consensus Target Price from Analysts
CubeSmart (NYSE:CUBE) has earned a consensus recommendation of “Buy” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $32.30.
A number of equities research analysts have recently issued reports on CUBE shares. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, July 17th. BMO Capital Markets reiterated a “buy” rating and set a $32.00 price objective on shares of CubeSmart in a research note on Friday, July 27th. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, July 4th. Citigroup dropped their price objective on CubeSmart from $33.00 to $29.00 and set a “hold” rating on the stock in a research note on Friday, October 5th. Finally, Bank of America upped their price objective on CubeSmart from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th.
A number of institutional investors and hedge funds have recently bought and sold shares of CUBE. Wells Fargo & Company MN raised its stake in CubeSmart by 45.6% in the 1st quarter. Wells Fargo & Company MN now owns 248,618 shares of the real estate investment trust’s stock valued at $7,010,000 after acquiring an additional 77,901 shares during the period. A.R.T. Advisors LLC grew its holdings in CubeSmart by 244.7% in the 1st quarter. A.R.T. Advisors LLC now owns 57,471 shares of the real estate investment trust’s stock valued at $1,620,000 after buying an additional 40,800 shares in the last quarter. United Capital Financial Advisers LLC grew its holdings in CubeSmart by 13.3% in the 1st quarter. United Capital Financial Advisers LLC now owns 16,699 shares of the real estate investment trust’s stock valued at $471,000 after buying an additional 1,959 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in CubeSmart in the 1st quarter valued at $808,000. Finally, Verition Fund Management LLC grew its holdings in CubeSmart by 134.2% in the 1st quarter. Verition Fund Management LLC now owns 20,697 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 11,861 shares in the last quarter.
CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. CubeSmart had a return on equity of 9.22% and a net margin of 25.89%. The company had revenue of $147.82 million for the quarter, compared to analysts’ expectations of $148.68 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts expect that CubeSmart will post 1.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Friday, September 28th. CubeSmart’s dividend payout ratio (DPR) is presently 75.47%.
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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