DA Davidson Initiates Coverage on CubeSmart to Neutral

DA Davidson Initiates Coverage on CubeSmart(NYSE:CUBE). The shares have been rated Neutral. The rating by DA Davidson was issued on Jun 24, 2016.

In a different note, FBR Capital said it Initiates Coverage on CubeSmart, according to a research note issued on Jun 23, 2016. The shares have been rated ‘Outperform’ by the firm. On May 12, 2016, Citigroup said it Maintains its rating on CubeSmart. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Neutral’ by the firm.

CubeSmart (CUBE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.46% or 0.14 points. Due to strong positive momentum, the stock ended at $30.59, which is also near the day’s high of $30.88. The stock began the session at $30.62 and the volume stood at 18,73,916 shares. The 52-week high of the shares is $33.52 and the 52 week low is $22.86. The company has a current market capitalization of $5,430 M and it has 17,75,22,870 shares in outstanding.

CubeSmart(CUBE) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $118.87M. Analysts had an estimated revenue of $117.98M. Earnings per share were $0.32. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Aug 12, 2015, Timothy M Martin (CFO) sold 110,046 shares at $26.23 per share price.Also, On May 5, 2015, Jeffrey P Foster (Sr. VP – Chief Legal Officer) sold 108,376 shares at $23.56 per share price.

CubeSmart is a self-administered and self-managed real estate company 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 customers with features such as wide aisles and loadbearing capabilities for large truck access. As of December 31 2014 the Company owned 421 self-storage facilities located in 22 states of the United States and in the District of Columbia containing an aggregate of approximately 28.6 million rentable square feet. As of December 31 2014 the Company managed 174 facilities for third parties (including 35 facilities containing an aggregate of approximately 2.4 million rentable square feet as part of an unconsolidated real estate venture in which it owns a 50% interest).

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