CubeSmart (NYSE:CUBE) has earned an average rating of “Buy” from the eleven ratings firms that are covering the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $34.08.
A number of equities analysts recently commented on the company. FBR & Co set a $35.00 price target on CubeSmart and gave the stock a “buy” rating in a report on Sunday, September 18th. Evercore ISI cut CubeSmart from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. SunTrust Banks Inc. cut CubeSmart from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $33.00 in a report on Monday, July 25th. Jefferies Group reduced their price objective on CubeSmart from $39.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Finally, Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, August 4th.
Shares of CubeSmart (NYSE:CUBE) opened at 26.34 on Tuesday. The company’s 50-day moving average price is $27.28 and its 200-day moving average price is $29.93. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 53.43 and a beta of 0.47. CubeSmart has a 52-week low of $25.40 and a 52-week high of $33.52.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. CubeSmart had a return on equity of 5.57% and a net margin of 19.26%. The business earned $126.53 million during the quarter, compared to analysts’ expectations of $124.94 million. During the same quarter last year, the company posted $0.31 earnings per share. CubeSmart’s quarterly revenue was up 15.2% on a year-over-year basis. Equities research analysts forecast that CubeSmart will post $1.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a $0.21 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.19%. CubeSmart’s payout ratio is 171.43%.
In other news, Director William M. Diefenderfer III sold 2,961 shares of CubeSmart stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $27.25, for a total value of $80,687.25. Following the completion of the sale, the director now directly owns 128,486 shares in the company, valued at $3,501,243.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.13% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of CubeSmart during the fourth quarter valued at approximately $40,705,000. Nisa Investment Advisors L.L.C. increased its position in shares of CubeSmart by 110.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 28,600 shares of the company’s stock valued at $952,000 after buying an additional 15,000 shares during the period. Pacad Investment Ltd. bought a new position in shares of CubeSmart during the first quarter valued at about $263,000. Ngam Advisors L.P. increased its position in shares of CubeSmart by 4.4% in the first quarter. Ngam Advisors L.P. now owns 200,319 shares of the company’s stock valued at $6,671,000 after buying an additional 8,368 shares during the period. Finally, BlackRock Group LTD increased its position in shares of CubeSmart by 3.5% in the first quarter. BlackRock Group LTD now owns 1,229,085 shares of the company’s stock valued at $40,928,000 after buying an additional 42,115 shares during the period.