CubeSmart (NYSE:CUBE) Price Target Cut to $44.00 by Analysts at Wells Fargo & Company

CubeSmart (NYSE:CUBE) had its target price decreased by Wells Fargo & Company from $50.00 to $44.00 in a research note issued to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price target for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Barclays lowered their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lowered their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Finally, Scotiabank lowered their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CubeSmart presently has a consensus rating of “Hold” and a consensus target price of $49.18.

CubeSmart Price Performance

CUBE stock opened at $41.82 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The firm has a market cap of $9.46 billion, a P/E ratio of 23.63, a P/E/G ratio of 11.58 and a beta of 0.87. The company’s 50-day moving average price is $42.01 and its two-hundred day moving average price is $47.23.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.52 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 4.97%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s dividend payout ratio is 117.51%.

Institutional Investors Weigh In On CubeSmart

A number of institutional investors have recently modified their holdings of CUBE. Versant Capital Management Inc boosted its stake in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 673 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 389 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 559 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of CubeSmart in the 3rd quarter valued at $33,000. 97.61% of the stock is owned by institutional investors.

CubeSmart Company Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.