CubeSmart (NYSE:CUBE) had its price objective boosted by Raymond James from $36.00 to $38.00 in a research report released on Tuesday, AnalystRatings.com reports. Raymond James currently has an outperform rating on the real estate investment trust’s stock.

CUBE has been the subject of several other research reports. Zacks Investment Research lowered shares of CubeSmart from a buy rating to a hold rating and set a $40.00 target price for the company. in a report on Friday, September 6th. Robert W. Baird set a $35.00 target price on shares of CubeSmart and gave the stock a hold rating in a report on Wednesday, August 21st. Bank of America lowered shares of CubeSmart from a buy rating to a neutral rating in a report on Friday, July 19th. Stifel Nicolaus initiated coverage on shares of CubeSmart in a report on Monday, August 19th. They issued a hold rating and a $35.00 target price for the company. Finally, ValuEngine lowered shares of CubeSmart from a buy rating to a hold rating in a report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $33.17.

CUBE stock opened at $35.62 on Tuesday. CubeSmart has a 52 week low of $27.19 and a 52 week high of $36.32. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $35.35 and a two-hundred day simple moving average of $33.46. The firm has a market capitalization of $6.86 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 6.55 and a beta of 0.17.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.15). The business had revenue of $159.00 million for the quarter, compared to the consensus estimate of $158.86 million. CubeSmart had a net margin of 29.33% and a return on equity of 10.19%. CubeSmart’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. As a group, analysts anticipate that CubeSmart will post 1.67 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.32 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.59%. CubeSmart’s dividend payout ratio (DPR) is presently 78.05%.

In related news, CFO Timothy M. Martin sold 32,028 shares of CubeSmart stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $35.75, for a total transaction of $1,145,001.00. Following the completion of the sale, the chief financial officer now owns 214,264 shares in the company, valued at approximately $7,659,938. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher P. Marr sold 79,888 shares of CubeSmart stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $36.15, for a total transaction of $2,887,951.20. Following the sale, the chief executive officer now owns 403,687 shares of the company’s stock, valued at approximately $14,593,285.05. The disclosure for this sale can be found here. Insiders sold a total of 129,707 shares of company stock valued at $4,669,870 in the last 90 days. Company insiders own 1.04% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CUBE. FMR LLC lifted its holdings in CubeSmart by 1,578.5% during the 1st quarter. FMR LLC now owns 10,155,446 shares of the real estate investment trust’s stock valued at $325,381,000 after buying an additional 9,550,430 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in CubeSmart by 29.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,366,989 shares of the real estate investment trust’s stock valued at $346,672,000 after buying an additional 2,382,832 shares in the last quarter. Eaton Vance Management lifted its holdings in CubeSmart by 376.4% during the 2nd quarter. Eaton Vance Management now owns 2,176,615 shares of the real estate investment trust’s stock valued at $72,786,000 after buying an additional 1,719,753 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in CubeSmart by 34.0% during the 2nd quarter. Cohen & Steers Inc. now owns 3,092,619 shares of the real estate investment trust’s stock valued at $103,417,000 after buying an additional 784,976 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in CubeSmart by 8.4% during the 1st quarter. Principal Financial Group Inc. now owns 7,225,406 shares of the real estate investment trust’s stock valued at $231,503,000 after buying an additional 559,895 shares in the last quarter. Institutional investors own 98.90% of the company’s stock.

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 2019 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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