REIT Stocks Under Scanner -- CubeSmart, Communications Sales & Leasing, Public Storage, and First Industrial Realty Trust
NEW YORK, November 16, 2016 /PRNewswire/ --
In today's pre-market research, Stock-Callers.com redirects investors' attention to four Industrial REITs: CubeSmart (NYSE: CUBE), Communications Sales & Leasing Inc. (NASDAQ: CSAL), Public Storage (NYSE: PSA), and First Industrial Realty Trust Inc. (NYSE: FR). These REITs belong to the Financials sector which was mostly lower in afternoon trade on Tuesday, November 15, 2016, with the NYSE Financial Sector Index falling nearly 0.6%, and financial companies in the S&P 500 Index sinking just under 1.0%. You can access of our complimentary research reports on these stocks now at: http://stock-callers.com/registration
CubeSmart
Shares in Malvern, Pennsylvania-based CubeSmart ended Tuesday's session at $25.15, which was a drop of 3.19%. The stock recorded a trading volume of 2.20 million shares, which was above its three months average volume of 1.64 million shares. Shares of the Company, which invests in the real estate markets of the US, are trading 4.73% below their 50-day moving average. Moreover, CubeSmart's stock has a Relative Strength Index (RSI) of 44.05.
As per notes filed with the SEC on November 4th, 2016, the Compensation Committee of the Board of Trustees as well as the Board of Trustees of CubeSmart approved on November 1st, 2016, a new Executive Severance Plan. The Severance Plan will be effective as of January 1st, 2017 and provides for certain severance benefits to eligible senior level employees of the Company on account of an involuntary termination, including a termination by the Company without "cause" or on account of the employee's disability, a termination by the employee for "good reason", or a termination on account of the employee's death. Visit us today and download your complete report on CUBE for free at: http://stock-callers.com/registration/?symbol=CUBE
Communications Sales & Leasing
Little Rock, Arkansas-based Communications Sales & Leasing Inc.'s stock declined 0.86%, closing the day at $24.13. A total volume of 2.37 million shares was traded, which was higher than their three months average volume of 1.23 million shares. The Company's shares have advanced 38.40% on an YTD basis. The stock is trading 5.16% below its 200-day moving average. Additionally, shares of the company, which engages in the acquisition and construction of mission critical communications infrastructure; and provision of wireless infrastructure solutions for the communications industry, have an RSI of 21.08.
On November 2nd, 2016, research firm Raymond James upgraded the Company's stock rating from 'Outperform' to 'Strong Buy'.
On November 14th, 2016, Communications Sales & Leasing reported that revenues for Q3 2016 were $200.2 million. Net loss and adjusted EBITDA was $2.3 million and $175.7 million, respectively, for the same period. Net loss attributable to common shares was $4.1 million, or ($0.03) per diluted share, for Q3 2016. The company's adjusted Funds From Operations ("FFO") attributable to common shares was $99.7 million, or $0.65 per diluted common share. Normalized FFO attributable to common shares, which excludes transaction related costs, was $94.0 million, or $0.61 per diluted common share. The complimentary research report on CSAL can be accessed at: http://stock-callers.com/registration/?symbol=CSAL
Public Storage
On Tuesday, shares in Glendale, California-based Public Storage recorded a trading volume of 1.10 million shares, which was higher than their three months average volume of 892,280 shares. The stock ended the day 2.00% lower at $212.12. The Company's shares are trading below their 50-day moving average by 1.30%. Furthermore, shares of Public Storage, which acquires, develops, owns, and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis, for personal and business use, have an RSI of 49.55.
On October 27th, 2016, Public Storage reported that for Q3 2016 net income allocable to its common shareholders was $309.0 million, or $1.78 per diluted common share, compared to $273.5 million, or $1.58, in Q3 2015. For Q3 2016, FFO was $2.51 per diluted common share as compared to $2.27 in 2015.
On October 31st, 2016, research firm Goldman upgraded the Company's stock rating from 'Sell' to 'Neutral'. Register for free on Stock-Callers.com and download the PDF research report on PSA at: http://stock-callers.com/registration/?symbol=PSA
First Industrial Realty Trust
US-domiciled First Industrial Realty Trust Inc.'s stock saw a slight decline of 0.43%, finishing yesterday's session at $25.51. A total volume of 865,924 shares was traded, which was above their three months average volume of 835,050 shares. The Company's shares have advanced 17.86% since the start of this year. The stock is trading above its 200-day moving average by 1.38%. Additionally, shares of First Industrial Realty Trust, which makes investments in industrial properties, have an RSI of 41.10.
On November 8th, 2016, First Industrial Realty Trust announced that its board of directors declared a common stock dividend of $0.19 per share/unit for the quarter ending December 31st, 2016, payable on January 17th, 2017, to stockholders of record on December 30th, 2016. Get free access to your research report on FR at: http://stock-callers.com/registration/?symbol=FR
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