CubeSmart (NYSE:CUBE) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of CubeSmart (NYSE:CUBE) from a buy rating to a hold rating in a research note published on Thursday, ValuEngine reports.

CUBE has been the subject of a number of other research reports. Zacks Investment Research raised shares of CubeSmart from a hold rating to a buy rating and set a $38.00 price objective for the company in a report on Tuesday. Bank of America lowered shares of CubeSmart from a buy rating to a neutral rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $31.54.

Shares of CUBE traded up $0.34 during mid-day trading on Thursday, reaching $34.82. The stock had a trading volume of 1,253,936 shares, compared to its average volume of 1,176,871. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.09. CubeSmart has a 52-week low of $27.19 and a 52-week high of $35.23. The company has a fifty day moving average of $34.04. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 6.20 and a beta of 0.19.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.15). CubeSmart had a net margin of 29.33% and a return on equity of 10.19%. The firm had revenue of $159.00 million during the quarter, compared to analysts’ expectations of $158.86 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that CubeSmart will post 1.67 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.28 dividend on an annualized basis and a yield of 3.68%. CubeSmart’s payout ratio is currently 78.05%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zions Bancorporation N.A. acquired a new position in CubeSmart in the second quarter valued at about $32,000. Advisory Services Network LLC lifted its position in CubeSmart by 200.0% in the first quarter. Advisory Services Network LLC now owns 1,500 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,000 shares during the last quarter. Quadrant Capital Group LLC lifted its position in CubeSmart by 1,473.8% in the first quarter. Quadrant Capital Group LLC now owns 2,880 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 2,697 shares during the last quarter. Penserra Capital Management LLC acquired a new position in CubeSmart in the first quarter valued at about $96,000. Finally, Advisor Group Inc. lifted its position in CubeSmart by 36.3% in the second quarter. Advisor Group Inc. now owns 3,418 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 910 shares during the last quarter. 98.85% of the stock is currently owned by institutional investors.

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.

See Also: Intrinsic Value

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Analyst Recommendations for CubeSmart (NYSE:CUBE)

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