Brokerages Set CubeSmart (NYSE:CUBE) Price Target at $44.13

CubeSmart (NYSE:CUBE) has earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $44.1333.

Several analysts have commented on CUBE shares. Mizuho dropped their target price on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Wells Fargo & Company dropped their price objective on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Wolfe Research cut shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Tuesday, January 20th.

CubeSmart Stock Up 1.0%

Shares of CubeSmart stock opened at $38.92 on Friday. The company has a market capitalization of $8.88 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 11.93 and a beta of 1.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50-day moving average of $37.21 and a two-hundred day moving average of $38.65. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 5.4%. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s payout ratio is 135.90%.

Hedge Funds Weigh In On CubeSmart

Several hedge funds have recently made changes to their positions in CUBE. Royal Bank of Canada boosted its holdings in CubeSmart by 1.3% during the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after purchasing an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp increased its stake in CubeSmart by 944.3% in the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 6,412 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after buying an additional 19,476 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of CubeSmart during the 1st quarter worth about $270,000. Finally, IFP Advisors Inc boosted its stake in shares of CubeSmart by 737.2% during the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 1,349 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Company Profile

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.