Raymond James Keeps Their Buy Rating on Cubesmart (CUBE)

By Ryan Adsit

Raymond James analyst Jonathan Hughes maintained a Buy rating on Cubesmart (CUBEResearch Report) today and set a price target of $38. The company’s shares closed last Monday at $35.11, close to its 52-week high of $36.32.

According to TipRanks.com, Hughes is a 4-star analyst with an average return of 7.8% and a 59.9% success rate. Hughes covers the Financial sector, focusing on stocks such as Healthcare Realty, Omega Healthcare, and Life Storage Inc.

Cubesmart has an analyst consensus of Hold, with a price target consensus of $34.80.

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Based on Cubesmart’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $49.42 million. In comparison, last year the company had a net profit of $38.41 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CUBE in relation to earlier this year. Earlier this month, Christopher Marr, the CEO of CUBE sold 80,589 shares for a total of $2,913,182.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CubeSmart is a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.