CubeSmart (NYSE:CUBE) Stock Has Consensus Target Price of $43.36

CubeSmart (NYSE:CUBE) has earned an average recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $43.36.

A number of analysts recently commented on CUBE shares. Barclays upgraded shares of CubeSmart from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $46.00 in a research report on Friday, July 10th. Wells Fargo & Company increased their price target on CubeSmart from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, July 15th. Truist Financial lifted their price objective on CubeSmart from $41.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $47.00 target price on shares of CubeSmart in a report on Tuesday, August 4th.

CubeSmart Stock Performance

Shares of CUBE stock opened at $37.64 on Friday. The stock has a market cap of $8.48 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 6.40 and a beta of 1.05. The stock has a 50-day moving average of $40.31 and a 200-day moving average of $39.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a one year low of $35.09 and a one year high of $43.26.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Friday, July 31st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The firm had revenue of $286.49 million for the quarter, compared to analyst estimates of $281.12 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that CubeSmart will post 2.57 earnings per share for the current year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.6%. CubeSmart’s dividend payout ratio is currently 146.21%.

Institutional Investors Weigh In On CubeSmart

Several institutional investors have recently added to or reduced their stakes in CUBE. Sequoia Financial Advisors LLC boosted its stake in CubeSmart by 5.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 82,782 shares of the real estate investment trust’s stock worth $3,292,000 after purchasing an additional 4,288 shares during the period. Engineers Gate Manager LP raised its stake in shares of CubeSmart by 6.5% in the 2nd quarter. Engineers Gate Manager LP now owns 139,914 shares of the real estate investment trust’s stock valued at $5,564,000 after purchasing an additional 8,596 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of CubeSmart by 111.3% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 22,332 shares of the real estate investment trust’s stock valued at $888,000 after purchasing an additional 11,761 shares during the period. NewEdge Advisors LLC raised its stake in shares of CubeSmart by 3,321.6% in the 2nd quarter. NewEdge Advisors LLC now owns 14,439 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 14,017 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of CubeSmart by 182.6% in the second quarter. IFP Advisors Inc now owns 7,292 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 4,712 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

About CubeSmart

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. Its properties provide individuals and businesses with space to store household goods, personal belongings, business inventory, records, vehicles and other items.

The company offers a range of unit sizes and storage solutions, generally through traditional drive-up and climate-controlled facilities. Many locations also provide features such as electronic access, online rentals and payments, moving and packing supplies, and vehicle storage.