Breaking: Could CubeSmart Change Direction After Today’s Significant Decline?

Breaking: Could CubeSmart Change Direction After Today's Significant Decline?

The stock of CubeSmart (NYSE:CUBE) is a huge mover today! The stock decreased 2.78% or $0.78 on September 30, hitting $27.26. CubeSmart (NYSE:CUBE) has declined 8.83% since February 29, 2016 and is downtrending. It has underperformed by 19.25% the S&P500.
The move comes after 8 months negative chart setup for the $4.87 billion company. It was reported on Oct, 1 by Barchart.com. We have $25.62 PT which if reached, will make NYSE:CUBE worth $292.20 million less.

Analysts await CubeSmart (NYSE:CUBE) to report earnings on November, 3. They expect $0.37 EPS, up 8.82% or $0.03 from last year’s $0.34 per share. CUBE’s profit will be $66.10 million for 18.42 P/E if the $0.37 EPS becomes a reality. After $0.36 actual EPS reported by CubeSmart for the previous quarter, Wall Street now forecasts 2.78% EPS growth.

CubeSmart (NYSE:CUBE) Ratings Coverage

Out of 11 analysts covering CubeSmart (NYSE:CUBE), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. CubeSmart has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Friday, November 13 by Raymond James. BB&T Capital initiated the shares of CUBE in a report on Wednesday, November 11 with “Buy” rating. On Friday, June 24 the stock rating was initiated by DA Davidson with “Neutral”. The rating was maintained by Evercore on Tuesday, September 8 with “Buy”. The firm has “Hold” rating given on Monday, March 21 by Evercore. On Wednesday, August 10 the stock rating was maintained by Jefferies with “Buy”. Robert W. Baird initiated CubeSmart (NYSE:CUBE) on Thursday, July 23 with “Outperform” rating. On Thursday, May 12 the stock rating was maintained by Citigroup with “Neutral”. The stock of CubeSmart (NYSE:CUBE) earned “Outperform” rating by FBR Capital on Thursday, June 23.

According to Zacks Investment Research, “CubeSmart is a self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self storage facilities in the United States. Its self storage facilities are designed to offer storage space for residential and commercial customers. CubeSmart, formally known as U-Store-It Trust, is based in Wayne, Pennsylvania.”

Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.46, from 1.44 in 2016Q1. The ratio fall, as 22 funds sold all CubeSmart shares owned while 96 reduced positions. 39 funds bought stakes while 77 increased positions. They now own 178.71 million shares or 0.94% less from 180.40 million shares in 2016Q1.
Ibm Retirement Fund accumulated 0.02% or 17,924 shares. Chicago Equity Prns Ltd Liability Co holds 0.03% or 38,025 shares in its portfolio. Tdam Usa last reported 0.06% of its portfolio in the stock. Creative Planning owns 402 shares or 0% of their US portfolio. Symphony Asset Management Ltd Company holds 0.15% or 42,347 shares in its portfolio. Adams Diversified Equity Fund Inc last reported 13,200 shares in the company. The New York-based Cornerstone Cap Management Limited Liability Corp has invested 0.04% in CubeSmart (NYSE:CUBE). Moreover, Stifel Fincl Corporation has 0% invested in CubeSmart (NYSE:CUBE) for 20,831 shares. Twin Tree Mgmt L P holds 0% of its portfolio in CubeSmart (NYSE:CUBE) for 763 shares. California State Teachers Retirement Sys last reported 378,800 shares in the company. Rafferty Asset Mgmt Lc, a New York-based fund reported 19,108 shares. Alliancebernstein Lp accumulated 267,897 shares or 0.01% of the stock. Babson Cap Mngmt Limited Liability Corp has 0.02% invested in the company for 22,500 shares. Presima last reported 871,400 shares in the company. Franklin has invested 0.01% of its portfolio in CubeSmart (NYSE:CUBE).

Insider Transactions: Since August 31, 2016, the stock had 0 buys, and 2 sales for $1.18 million net activity. The insider KELER MARIANNE M sold $1.10M. DIEFENDERFER WILLIAM M III had sold 2,961 shares worth $80,689.

More news for CubeSmart (NYSE:CUBE) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: CubeSmart, WP Carey and State Street” on September 27, 2016. Seekingalpha.com‘s article titled: “CubeSmart: Self-Storage Sector Price Correlation Set To Break; Own The Winner” and published on September 13, 2016 is yet another important article.

CUBE Company Profile

CubeSmart, incorporated on July 26, 2004, operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s activities are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Firm is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States. The Company’s self-storage facilities offer storage space for its residential and commercial clients with features, such as wide aisles and loadbearing capabilities for large truck access. The Company’s self-storage facilities are located in metropolitan areas, as well as suburban areas. The Firm owns over 440 self-storage facilities located in over 20 states and in the District of Columbia containing an aggregate of approximately 30.4 million rentable square feet. It also enables the clients to rent storage cubes for their use, typically on a month-to-month basis.

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