CubeSmart (NYSE:CUBE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of CubeSmart (NYSE:CUBE) have been given a consensus rating of “Hold” by the sixteen brokerages that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $43.6429.

A number of research firms have recently issued reports on CUBE. Wells Fargo & Company reduced their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Scotiabank raised shares of CubeSmart to a “hold” rating in a research note on Thursday, March 19th. Deutsche Bank Aktiengesellschaft downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Tuesday, January 20th. Finally, UBS Group reduced their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th.

CubeSmart Price Performance

CubeSmart stock opened at $38.48 on Friday. The company’s 50 day simple moving average is $38.49 and its 200-day simple moving average is $38.22. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 26.54 and a beta of 1.13. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.04 and a current ratio of 0.04.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.5%. CubeSmart’s dividend payout ratio is 146.21%.

Insider Transactions at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. This represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CubeSmart

A number of hedge funds have recently added to or reduced their stakes in CUBE. Norges Bank acquired a new stake in CubeSmart during the 4th quarter worth approximately $395,968,000. Millennium Management LLC lifted its holdings in CubeSmart by 201.5% during the 4th quarter. Millennium Management LLC now owns 2,739,600 shares of the real estate investment trust’s stock worth $98,763,000 after buying an additional 1,830,993 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in CubeSmart by 36.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock worth $174,185,000 after buying an additional 1,143,464 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in CubeSmart by 37.3% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock worth $136,805,000 after buying an additional 914,884 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in CubeSmart by 73.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,726,419 shares of the real estate investment trust’s stock worth $62,260,000 after buying an additional 731,883 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.