ValuEngine Upgrades CubeSmart (CUBE) to Buy

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

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

CUBE opened at $30.44 on Tuesday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.68 billion, a PE ratio of 18.60, a P/E/G ratio of 3.73 and a beta of 0.04. CubeSmart has a 1 year low of $25.22 and a 1 year high of $33.18.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the 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 return on equity of 9.34% and a net margin of 26.43%. Sell-side analysts forecast that CubeSmart will post 1.64 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of CUBE. Meeder Asset Management Inc. raised its position in CubeSmart by 99.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 70,850 shares of the real estate investment trust’s stock worth $2,283,000 after buying an additional 35,269 shares during the last quarter. Intact Investment Management Inc. purchased a new position in CubeSmart in the 2nd quarter worth about $226,000. BTIM Corp. raised its position in CubeSmart by 0.4% in the 2nd quarter. BTIM Corp. now owns 733,189 shares of the real estate investment trust’s stock worth $23,623,000 after buying an additional 3,053 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in CubeSmart by 127.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 733,947 shares of the real estate investment trust’s stock worth $23,648,000 after buying an additional 411,558 shares during the last quarter. Finally, TD Asset Management Inc. purchased a new position in CubeSmart in the 2nd quarter worth about $416,000.

CubeSmart Company Profile

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.

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

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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