CubeSmart (NYSE:CUBE) Receives Average Rating of “Hold” from Brokerages

Shares of CubeSmart (NYSE:CUBE) have been given a consensus rating of “Hold” by the eleven analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $46.00.

CUBE has been the subject of a number of recent research reports. Raymond James reiterated an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research note on Thursday, March 28th. Evercore ISI boosted their price target on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. Wells Fargo & Company boosted their price target on CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. BMO Capital Markets cut CubeSmart from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $50.00 to $47.00 in a research note on Wednesday, May 29th. Finally, Barclays assumed coverage on CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price target for the company.

Institutional Trading of CubeSmart

Several hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its holdings in CubeSmart by 19.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 125,672 shares of the real estate investment trust’s stock valued at $5,593,000 after purchasing an additional 20,077 shares during the period. Invst LLC bought a new stake in CubeSmart during the first quarter valued at about $715,000. Tidal Investments LLC grew its holdings in CubeSmart by 32.6% during the first quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust’s stock valued at $4,040,000 after purchasing an additional 21,967 shares during the period. Janus Henderson Group PLC grew its holdings in CubeSmart by 1,575.2% during the first quarter. Janus Henderson Group PLC now owns 1,820,434 shares of the real estate investment trust’s stock valued at $82,277,000 after purchasing an additional 1,711,762 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock valued at $257,191,000 after purchasing an additional 1,205,097 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 0.2 %

CUBE opened at $44.80 on Friday. The stock has a market cap of $10.08 billion, a PE ratio of 24.89, a PEG ratio of 5.49 and a beta of 0.77. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average of $42.84 and a 200-day moving average of $43.90. CubeSmart has a 52 week low of $33.17 and a 52 week high of $47.81.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The company had revenue of $261.41 million for the quarter, compared to analysts’ expectations of $253.91 million. CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.55%. The ex-dividend date is Monday, July 1st. CubeSmart’s dividend payout ratio is presently 113.33%.

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.