CubeSmart (CUBE) Raised to Sell at BidaskClub

CubeSmart (NYSE:CUBE) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday, September 7th.

Several other brokerages have also recently issued reports on CUBE. Zacks Investment Research cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. KeyCorp reissued a “hold” rating on shares of CubeSmart in a research note on Friday, August 25th. UBS AG cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Bank of America Corporation cut shares of CubeSmart from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $27.75 to $25.00 in a research note on Thursday, July 20th. Finally, Raymond James Financial, Inc. cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.25.

CubeSmart (NYSE CUBE) traded up 1.31% on Thursday, hitting $26.31. The stock had a trading volume of 2,125,958 shares. CubeSmart has a 52-week low of $22.83 and a 52-week high of $28.47. The company has a 50 day moving average price of $24.80 and a 200-day moving average price of $25.20. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 45.44 and a beta of 0.17.

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

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Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its position in CubeSmart by 32.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 118,110 shares of the real estate investment trust’s stock valued at $2,838,000 after buying an additional 29,010 shares during the last quarter. State Street Corp boosted its position in CubeSmart by 1.9% in the 1st quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock valued at $144,956,000 after buying an additional 101,843 shares during the last quarter. Westpac Banking Corp boosted its position in CubeSmart by 36.9% in the 1st quarter. Westpac Banking Corp now owns 531,577 shares of the real estate investment trust’s stock valued at $16,587,000 after buying an additional 143,258 shares during the last quarter. Paloma Partners Management Co purchased a new position in CubeSmart in the 1st quarter valued at about $557,000. Finally, Dean Investment Associates LLC boosted its position in CubeSmart by 51.9% in the 1st quarter. Dean Investment Associates LLC now owns 26,448 shares of the real estate investment trust’s stock valued at $687,000 after buying an additional 9,035 shares during the last quarter.

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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