Worth Watching: CubeSmart Can’t Burn Your Short Portfolio. Just Reaches 52-Week Low

Worth Watching: CubeSmart Can't Burn Your Short Portfolio. Just Reaches 52 Week Low

The stock of CubeSmart (NYSE:CUBE) hit a new 52-week low and has $22.91 target or 6.00% below today’s $24.37 share price. The 6 months bearish chart indicates high risk for the $4.34B company. The 1-year low was reported on Nov, 18 by Barchart.com. If the $22.91 price target is reached, the company will be worth $260.40 million 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. About 247,163 shares traded hands. CubeSmart (NYSE:CUBE) has declined 24.11% since April 18, 2016 and is downtrending. It has underperformed by 28.54% the S&P500.

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. $37 is the highest target while $27 is the lowest. The $32.25 average target is 32.33% above today’s ($24.37) stock price. CubeSmart has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Evercore given on Tuesday, September 8. As per Monday, March 21, the company rating was downgraded by Evercore. The stock of CubeSmart (NYSE:CUBE) earned “Outperform” rating by FBR Capital on Thursday, June 23. Citigroup maintained the stock with “Neutral” rating in Thursday, May 12 report. As per Wednesday, August 10, the company rating was maintained by Jefferies. The firm has “Buy” rating by BB&T Capital given on Wednesday, November 11. DA Davidson initiated the shares of CUBE in a report on Friday, June 24 with “Neutral” rating. The company was initiated on Thursday, July 23 by Robert W. Baird. The firm has “Outperform” rating given on Friday, November 13 by Raymond James.

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 increased to 1.02 in Q2 2016. Its up 0.04, from 0.98 in 2016Q1. The ratio improved, 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.
Lmr Prtn Ltd Liability Partnership has 0.64% invested in the company for 134,517 shares. The California-based Symphony Asset Mngmt Ltd Co has invested 0.15% in CubeSmart (NYSE:CUBE). Proshare Advsr Limited Company holds 0.02% or 45,808 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 51,083 shares. Rs Invest Mgmt Ltd Liability accumulated 725,470 shares or 0.23% of the stock. Frontier Cap Ltd holds 0% or 565 shares in its portfolio. Da Davidson & Company last reported 0.01% of its portfolio in the stock. Parametric Port Associate Ltd Com reported 109,311 shares or 0.01% of all its holdings. Mizuho Asset Management Coltd last reported 67,800 shares in the company. Raymond James Fin Service Incorporated accumulated 0% or 13,496 shares. Price T Rowe Associate Inc Md owns 1.30 million shares or 0.01% of their US portfolio. Point72 Asia (Hong Kong) Limited holds 0.06% or 1,600 shares in its portfolio. Axa accumulated 4,046 shares or 0% of the stock. The California-based Schwab Charles Investment Mngmt Inc has invested 0.05% in CubeSmart (NYSE:CUBE). Fifth Third National Bank holds 0.02% of its portfolio in CubeSmart (NYSE:CUBE) for 78,220 shares.

Insider Transactions: Since August 31, 2016, the stock had 0 insider purchases, and 2 insider sales for $1.18 million net activity. 40,000 shares with value of $1.10M were sold by KELER MARIANNE M on Wednesday, August 31. $80,689 worth of CubeSmart (NYSE:CUBE) was sold by DIEFENDERFER WILLIAM M III.

More news for CubeSmart (NYSE:CUBE) were recently published by: Prnewswire.com, which released: “REIT Stocks Under Scanner — CubeSmart, Communications Sales & Leasing, Public …” on November 16, 2016. Seekingalpha.com‘s article titled: “CubeSmart’s (CUBE) CEO Chris Marr on Q3 2016 Results – Earnings Call Transcript” and published on October 31, 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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