The stock of CubeSmart (NYSE:CUBE) hit a new 52-week low and has $24.21 target or 7.00% below today’s $26.03 share price. The 6 months bearish chart indicates high risk for the $4.65B company. The 1-year low was reported on Oct, 5 by Barchart.com. If the $24.21 price target is reached, the company will be worth $325.50M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. CubeSmart (NYSE:CUBE) has declined 14.57% since March 2, 2016 and is downtrending. It has underperformed by 22.83% the S&P500.
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 $66.10M for 17.59 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. As per Thursday, June 23, the company rating was initiated by FBR Capital. Robert W. Baird initiated CubeSmart (NYSE:CUBE) rating on Thursday, July 23. Robert W. Baird has “Outperform” rating and $27 price target. BB&T Capital initiated the stock with “Buy” rating in Wednesday, November 11 report. The company was downgraded on Friday, November 13 by Raymond James. The stock has “Neutral” rating given by DA Davidson on Friday, June 24. Jefferies maintained the stock with “Buy” rating in Wednesday, August 10 report. The rating was maintained by Citigroup on Thursday, May 12 with “Neutral”. The rating was maintained by Evercore on Tuesday, September 8 with “Buy”. The stock of CubeSmart (NYSE:CUBE) earned “Hold” rating by Evercore on Monday, March 21.
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 2016 Q2. Its down 0.46, from 1.44 in 2016Q1. The ratio dropped, 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.
Visium Asset Ltd Partnership holds 63,484 shares or 0.14% of its portfolio. Presima Incorporated accumulated 4.24% or 871,400 shares. Solaris Asset Limited Company accumulated 1,025 shares or 0.02% of the stock. M&T Financial Bank Corp has invested 0.01% of its portfolio in CubeSmart (NYSE:CUBE). Aew Capital Mgmt Limited Partnership has 3.66 million shares for 2.28% of their US portfolio. Moreover, Rs Mngmt Ltd Liability Corporation has 0.23% invested in CubeSmart (NYSE:CUBE) for 725,470 shares. Rafferty Asset Limited Liability Company holds 0.04% of its portfolio in CubeSmart (NYSE:CUBE) for 19,108 shares. Honeywell Incorporated has 61,400 shares for 0.05% of their US portfolio. Principal Financial Gru holds 0.35% or 8.04M shares in its portfolio. Stifel reported 20,831 shares or 0% of all its holdings. Moreover, Millennium Mngmt Limited Liability Company has 0.05% invested in CubeSmart (NYSE:CUBE) for 697,210 shares. Amer Century Companies holds 0.04% of its portfolio in CubeSmart (NYSE:CUBE) for 1.05M shares. Miles Cap last reported 0.22% of its portfolio in the stock. Cim Investment Mangement has 0.1% invested in the company for 7,655 shares. Sg Americas Securities Ltd Liability last reported 0.01% of its portfolio in the stock.
Insider Transactions: Since August 31, 2016, the stock had 0 insider purchases, and 2 sales for $1.18 million net activity. DIEFENDERFER WILLIAM M III sold $80,689 worth of stock or 2,961 shares. KELER MARIANNE M sold $1.10 million worth of CubeSmart (NYSE:CUBE) on Wednesday, August 31.
More recent CubeSmart (NYSE:CUBE) news were published by: Forbes.com which released: “Ex-Dividend Reminder: CubeSmart, WP Carey and State Street” on September 27, 2016. Also Seekingalpha.com published the news titled: “CubeSmart: Self-Storage Sector Price Correlation Set To Break; Own The Winner” on September 13, 2016. Nasdaq.com‘s news article titled: “CubeSmart (CUBE) Ex-Dividend Date Scheduled for September 29, 2016” with publication date: September 28, 2016 was also an interesting one.
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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