CubeSmart (NYSE:CUBE) Rating Increased to Strong-Buy at Raymond James

CubeSmart (NYSE:CUBE) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Monday, MarketBeat.com reports. The firm presently has a $38.50 price objective on the real estate investment trust’s stock, up from their prior price objective of $38.00. Raymond James’ price objective would suggest a potential upside of 12.15% from the stock’s current price.

CUBE has been the subject of a number of other reports. Zacks Investment Research upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Monday, September 30th. Bank of America lowered shares of CubeSmart from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. ValuEngine lowered shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus assumed coverage on shares of CubeSmart in a research report on Monday, August 19th. They issued a “hold” rating and a $35.00 price target for the company. Finally, Robert W. Baird set a $35.00 price target on shares of CubeSmart and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.79.

CUBE opened at $34.33 on Monday. The firm has a market cap of $6.62 billion, a P/E ratio of 20.93, a PEG ratio of 5.94 and a beta of 0.16. CubeSmart has a 1-year low of $27.51 and a 1-year high of $36.32. The company has a 50 day simple moving average of $35.13 and a two-hundred day simple moving average of $34.01. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.09 and a quick ratio of 0.09.

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

In other news, CFO Timothy M. Martin sold 17,791 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $35.80, for a total value of $636,917.80. Following the transaction, the chief financial officer now owns 200,027 shares of the company’s stock, valued at $7,160,966.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher P. Marr sold 79,888 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $36.15, for a total transaction of $2,887,951.20. Following the completion of the transaction, the chief executive officer now directly owns 403,687 shares in the company, valued at approximately $14,593,285.05. The disclosure for this sale can be found here. Insiders sold 129,707 shares of company stock worth $4,669,870 in the last three months. Insiders own 1.04% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CUBE. Timbercreek Investment Management Inc. raised its stake in shares of CubeSmart by 25.6% in the third quarter. Timbercreek Investment Management Inc. now owns 380,990 shares of the real estate investment trust’s stock valued at $13,297,000 after acquiring an additional 77,600 shares during the period. Boston Trust Walden Corp raised its stake in shares of CubeSmart by 3.2% in the third quarter. Boston Trust Walden Corp now owns 726,555 shares of the real estate investment trust’s stock valued at $25,357,000 after acquiring an additional 22,690 shares during the period. Brinker Capital Inc. raised its stake in shares of CubeSmart by 20.8% in the third quarter. Brinker Capital Inc. now owns 8,739 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 1,506 shares during the period. Strs Ohio raised its stake in shares of CubeSmart by 6.7% in the third quarter. Strs Ohio now owns 416,876 shares of the real estate investment trust’s stock valued at $14,548,000 after acquiring an additional 26,002 shares during the period. Finally, Bailard Inc. raised its stake in shares of CubeSmart by 100.6% in the third quarter. Bailard Inc. now owns 17,550 shares of the real estate investment trust’s stock valued at $612,000 after acquiring an additional 8,800 shares during the period. 99.76% of the stock is currently 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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Analyst Recommendations for CubeSmart (NYSE:CUBE)

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