Revenue Update on CubeSmart(NYSE:CUBE)

CubeSmart(NYSE:CUBE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $126.53M. Analysts estimated a revenue of $124.94M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.35.

In a different note, On Jul 25, 2016, SunTrust Robinson Humphrey said it Downgrades its rating on CubeSmart. The shares have been rated ‘Neutral’ by the firm. DA Davidson said it Initiates Coverage on CubeSmart, according to a research note issued on Jun 24, 2016. The shares have been rated ‘Neutral’ by the firm. 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) shares turned negative on Thursdays trading session with the shares closing down -1.3 points or -4.50% at a volume of 26,11,955. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.87. The peak price level was also seen at $28.87 while the days lowest was $27.575. Finally the shares closed at $27.59. The 52-week high of the shares is $33.52 while the 52-week low is $24.32. According to the latest information available, the market cap of the company is $4,947 M.

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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