ValuEngine Lowers CubeSmart (NYSE:CUBE) to Hold

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

A number of other equities analysts have also issued reports on the company. Bank of America lowered CubeSmart from a buy rating to a neutral rating in a research note on Friday, July 19th. Zacks Investment Research raised CubeSmart from a hold rating to a buy rating and set a $38.00 price target for the company in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $31.54.

CUBE stock traded up $0.34 on Thursday, reaching $34.82. The company’s stock had a trading volume of 1,253,936 shares, compared to its average volume of 1,270,650. CubeSmart has a 52 week low of $27.19 and a 52 week high of $35.23. The company has a market capitalization of $6.64 billion, a P/E ratio of 21.23, a P/E/G ratio of 6.30 and a beta of 0.19. The business has a fifty day simple moving average of $34.04. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.09 and a quick ratio of 0.04.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.15). The firm 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%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Research analysts anticipate that CubeSmart will post 1.67 earnings per share for the current fiscal year.

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

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

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 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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