CubeSmart (NYSE:CUBE) Receives Consensus Recommendation of “Hold” from Analysts

CubeSmart (NYSE:CUBE) has been given an average rating of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $49.18.

A number of research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Scotiabank decreased their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and decreased their price objective for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Barclays decreased their price objective on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th.

CubeSmart Trading Up 0.5 %

Shares of NYSE:CUBE opened at $42.51 on Friday. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 11.58 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The business’s 50 day moving average price is $41.88 and its 200-day moving average price is $47.08.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. On average, equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 117.51%.

Institutional Trading of CubeSmart

A number of hedge funds and other institutional investors have recently modified their holdings of CUBE. Quarry LP increased its position in shares of CubeSmart by 19.8% during the 3rd quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 227 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of CubeSmart by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 233 shares during the last quarter. HighTower Advisors LLC increased its position in shares of CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after purchasing an additional 243 shares during the last quarter. Captrust Financial Advisors increased its position in shares of CubeSmart by 4.5% during the 3rd quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 248 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of 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 during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

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.