CubeSmart (CUBE) Given Average Recommendation of “Buy” by Analysts

CubeSmart (NYSE:CUBE) has earned an average rating of “Buy” from the fifteen research firms that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $30.78.

CUBE has been the topic of a number of recent research reports. B. Riley set a $32.00 price objective on CubeSmart and gave the company a “buy” rating in a research note on Thursday, February 15th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $31.00 price objective on shares of CubeSmart in a research note on Thursday, February 15th. Jefferies Financial Group set a $32.00 price objective on CubeSmart and gave the company a “buy” rating in a research note on Monday, March 5th. ValuEngine raised CubeSmart from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $30.00 price objective on shares of CubeSmart in a research note on Thursday, April 26th.

In other news, CEO Christopher P. Marr sold 215,268 shares of the stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $29.89, for a total transaction of $6,434,360.52. Following the completion of the sale, the chief executive officer now directly owns 529,378 shares in the company, valued at $15,823,108.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher P. Marr sold 175,568 shares of the stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $29.87, for a total transaction of $5,244,216.16. Following the sale, the chief executive officer now owns 529,378 shares of the company’s stock, valued at $15,812,520.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 465,322 shares of company stock valued at $13,934,902. 1.26% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Westwood Holdings Group Inc. lifted its holdings in CubeSmart by 4.1% in the first quarter. Westwood Holdings Group Inc. now owns 44,532 shares of the real estate investment trust’s stock worth $1,256,000 after buying an additional 1,750 shares during the period. United Capital Financial Advisers LLC lifted its holdings in CubeSmart by 13.3% in the first quarter. United Capital Financial Advisers LLC now owns 16,699 shares of the real estate investment trust’s stock worth $471,000 after buying an additional 1,959 shares during the period. Amalgamated Bank lifted its holdings in CubeSmart by 5.9% in the fourth quarter. Amalgamated Bank now owns 35,522 shares of the real estate investment trust’s stock worth $1,027,000 after buying an additional 1,972 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in CubeSmart by 7.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,816 shares of the real estate investment trust’s stock worth $813,000 after buying an additional 2,119 shares during the period. Finally, Tdam USA Inc. lifted its holdings in CubeSmart by 6.4% in the first quarter. Tdam USA Inc. now owns 39,809 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 2,410 shares during the period.

CubeSmart traded up $0.28, reaching $31.36, during trading on Thursday, according to MarketBeat.com. The stock had a trading volume of 1,265,674 shares, compared to its average volume of 1,423,499. The stock has a market cap of $5.71 billion, a PE ratio of 19.72, a P/E/G ratio of 3.68 and a beta of 0.11. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.04. CubeSmart has a one year low of $22.83 and a one year high of $31.76.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, April 26th. The real estate investment trust reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.20). CubeSmart had a net margin of 25.27% and a return on equity of 9.00%. The firm had revenue of $142.90 million during the quarter, compared to the consensus estimate of $144.05 million. During the same period in the prior year, the company earned $0.36 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. equities analysts anticipate that CubeSmart will post 1.64 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.83%. CubeSmart’s dividend payout ratio is currently 75.47%.

About CubeSmart

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.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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