Barclays Issues Pessimistic Forecast for CubeSmart (NYSE:CUBE) Stock Price

CubeSmart (NYSE:CUBE) had its price objective reduced by Barclays from $49.00 to $48.00 in a report issued on Friday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on CUBE. Bank of America upgraded shares of CubeSmart from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $50.00 in a report on Tuesday, May 13th. Evercore ISI upped their target price on shares of CubeSmart from $44.00 to $47.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Scotiabank upped their target price on shares of CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Finally, Royal Bank of Canada reduced their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.93.

CubeSmart Trading Up 2.4%

NYSE:CUBE opened at $43.67 on Friday. The company has a market capitalization of $9.96 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. 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 52-week low of $34.24 and a 52-week high of $55.14. The stock has a fifty day simple moving average of $40.62 and a 200-day simple moving average of $42.91.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 123.08%.

Institutional Trading of CubeSmart

A number of institutional investors and hedge funds have recently bought and sold shares of CUBE. Blue Trust Inc. increased its position in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 289 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 389 shares during the period. SRS Capital Advisors Inc. boosted its holdings in CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 559 shares during the period. Allworth Financial LP boosted its holdings in CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 501 shares during the period. Finally, UMB Bank n.a. boosted its holdings in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 351 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

About CubeSmart

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.