Brokerages Set CubeSmart (NYSE:CUBE) Price Target at $46.33

Shares of CubeSmart (NYSE:CUBE) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $46.33.

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price target on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Barclays began coverage on CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a research note on Tuesday, January 30th. They issued a “sell” rating and a $40.00 target price for the company. Raymond James reissued an “outperform” rating and issued a $48.00 target price on shares of CubeSmart in a research note on Thursday, March 28th. Finally, Evercore ISI lifted their target price on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, March 4th.

CubeSmart Trading Down 2.7 %

CUBE stock opened at $42.63 on Tuesday. The business has a fifty day moving average price of $44.03 and a 200 day moving average price of $42.07. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $47.81. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 23.55 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a yield of 4.79%. CubeSmart’s dividend payout ratio is presently 112.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in CubeSmart during the first quarter worth about $26,000. Mather Group LLC. bought a new stake in shares of CubeSmart in the first quarter valued at about $26,000. GAMMA Investing LLC bought a new stake in shares of CubeSmart in the fourth quarter valued at about $28,000. Signaturefd LLC lifted its holdings in shares of CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares in the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of CubeSmart in the fourth quarter valued at about $37,000. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Company Profile

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.