CubeSmart’s (CUBE) “Market Perform” Rating Reiterated at BMO Capital Markets

CubeSmart (NYSE:CUBE)‘s stock had its “market perform” rating reissued by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Monday. They currently have a $27.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ target price suggests a potential upside of 3.77% from the stock’s previous close.

Several other equities analysts have also commented on the stock. BidaskClub lowered shares of CubeSmart from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Cantor Fitzgerald lowered their price target on shares of CubeSmart from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, May 22nd. Jefferies Group LLC set a $30.00 price target on shares of CubeSmart and gave the stock a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, KeyCorp restated a “hold” rating on shares of CubeSmart in a research report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $28.29.

Shares of CubeSmart (NYSE CUBE) traded down 3.04% during mid-day trading on Monday, hitting $25.23. 1,041,832 shares of the stock traded hands. The stock has a market cap of $4.55 billion, a P/E ratio of 43.58 and a beta of 0.17. The firm’s 50 day moving average price is $24.57 and its 200-day moving average price is $25.21. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.47.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $138.07 million. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Analysts predict that CubeSmart will post $0.69 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in CUBE. Canada Pension Plan Investment Board grew its position in CubeSmart by 91.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 27,700 shares of the real estate investment trust’s stock valued at $719,000 after buying an additional 13,200 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in CubeSmart by 3.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,463 shares of the real estate investment trust’s stock valued at $739,000 after buying an additional 1,070 shares in the last quarter. Advisors Asset Management Inc. grew its position in CubeSmart by 53.3% in the 1st quarter. Advisors Asset Management Inc. now owns 13,437 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 4,672 shares in the last quarter. Daiwa Securities Group Inc. grew its position in CubeSmart by 36.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,300 shares of the real estate investment trust’s stock valued at $371,000 after buying an additional 3,800 shares in the last quarter. Finally, US Bancorp DE grew its position in CubeSmart by 8.0% in the 1st quarter. US Bancorp DE now owns 51,867 shares of the real estate investment trust’s stock valued at $1,346,000 after buying an additional 3,864 shares in the last quarter.

CubeSmart Company Profile

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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