CubeSmart (CUBE) Raised to Buy at ValuEngine

ValuEngine upgraded shares of CubeSmart (NYSE:CUBE) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Other research analysts also recently issued reports about the stock. SunTrust Banks set a $32.00 target price on shares of CubeSmart and gave the company a hold rating in a research report on Tuesday, August 7th. Zacks Investment Research raised shares of CubeSmart from a sell rating to a hold rating in a research report on Thursday, October 4th. Evercore ISI raised shares of CubeSmart from an in-line rating to an outperform rating and set a $35.00 price objective on the stock in a research report on Monday, September 10th. BMO Capital Markets reissued a buy rating and set a $30.00 price objective on shares of CubeSmart in a research report on Thursday, October 25th. Finally, Citigroup lowered their price objective on shares of CubeSmart from $33.00 to $29.00 and set a hold rating on the stock in a research report on Friday, October 5th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $31.62.

NYSE CUBE opened at $30.33 on Tuesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $5.65 billion, a P/E ratio of 19.08, a P/E/G ratio of 3.71 and a beta of 0.04. CubeSmart has a 12 month low of $25.22 and a 12 month high of $33.18.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.18). The company had revenue of $153.37 million during the quarter, compared to analysts’ expectations of $150.76 million. CubeSmart had a net margin of 26.43% and a return on equity of 9.34%. On average, research analysts forecast that CubeSmart will post 1.64 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CUBE. Sun Life Financial INC acquired a new stake in shares of CubeSmart in the 2nd quarter worth $118,000. Contravisory Investment Management Inc. acquired a new stake in shares of CubeSmart in the 3rd quarter worth $125,000. Centaurus Financial Inc. acquired a new stake in shares of CubeSmart in the 2nd quarter worth $154,000. PNC Financial Services Group Inc. lifted its stake in shares of CubeSmart by 198.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,548 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 3,686 shares during the period. Finally, First Hawaiian Bank acquired a new stake in shares of CubeSmart in the 3rd quarter worth $199,000.

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 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

Featured Article: What is Depreciation?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply