CubeSmart (CUBE) Given a $29.00 Price Target by BMO Capital Markets Analysts
BMO Capital Markets set a $29.00 target price on CubeSmart (NYSE:CUBE) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
A number of other research firms have also issued reports on CUBE. Zacks Investment Research upgraded CubeSmart from a sell rating to a hold rating in a research note on Wednesday, March 22nd. Bank of America Corp lowered CubeSmart from a buy rating to a neutral rating and set a $28.00 price objective on the stock. in a research note on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $31.50.
CubeSmart (NYSE:CUBE) opened at 27.80 on Wednesday. CubeSmart has a 12 month low of $23.65 and a 12 month high of $32.78. The company’s 50-day moving average is $26.64 and its 200 day moving average is $26.04. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 62.05 and a beta of 0.27.
CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, February 16th. The real estate investment trust reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. CubeSmart had a return on equity of 5.84% and a net margin of 19.93%. The firm had revenue of $132.50 million for the quarter, compared to analysts’ expectations of $131.57 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities analysts forecast that CubeSmart will post $0.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Monday, April 3rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, March 30th. CubeSmart’s dividend payout ratio is currently 207.70%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL raised its position in shares of CubeSmart by 365.4% in the third quarter. Virginia Retirement Systems ET AL now owns 328,100 shares of the real estate investment trust’s stock valued at $8,944,000 after buying an additional 257,600 shares in the last quarter. Manning & Napier Advisors LLC raised its position in shares of CubeSmart by 26.3% in the third quarter. Manning & Napier Advisors LLC now owns 431,300 shares of the real estate investment trust’s stock valued at $11,756,000 after buying an additional 89,830 shares in the last quarter. World Asset Management Inc raised its position in shares of CubeSmart by 32.3% in the third quarter. World Asset Management Inc now owns 11,485 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 2,802 shares in the last quarter. Presima Inc. raised its position in shares of CubeSmart by 46.3% in the third quarter. Presima Inc. now owns 1,275,100 shares of the real estate investment trust’s stock valued at $34,759,000 after buying an additional 403,700 shares in the last quarter. Finally, Strs Ohio raised its position in shares of CubeSmart by 87.5% in the third quarter. Strs Ohio now owns 499,228 shares of the real estate investment trust’s stock valued at $13,608,000 after buying an additional 233,005 shares in the last quarter. 99.91% of the stock is owned by hedge funds and other institutional investors.
CubeSmart Company Profile
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.
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