CubeSmart (NYSE:CUBE) Rating Increased to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a hold rating in a research note issued to investors on Friday, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has $45.00 target price on the real estate investment trust’s stock, down from their previous target price of $46.00.

Other equities analysts have also recently issued research reports about the company. Barclays cut their price target on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their target price for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Wells Fargo & Company increased their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Scotiabank dropped their target price on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.36.

CubeSmart Trading Down 2.8 %

CUBE stock opened at $40.17 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The business has a 50 day simple moving average of $46.16 and a two-hundred day simple moving average of $48.28. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 13.00 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. Research analysts anticipate that CubeSmart will post 2.63 EPS for the current fiscal year.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a $0.52 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.18%. CubeSmart’s payout ratio is presently 117.51%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of CubeSmart by 34.2% during the second quarter. Victory Capital Management Inc. now owns 372,591 shares of the real estate investment trust’s stock valued at $16,830,000 after buying an additional 94,894 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of CubeSmart in the 2nd quarter valued at about $33,000. Wedbush Securities Inc. lifted its position in shares of CubeSmart by 8.6% in the 2nd quarter. Wedbush Securities Inc. now owns 7,200 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 571 shares during the period. American Century Companies Inc. boosted its stake in shares of CubeSmart by 16.0% during the second quarter. American Century Companies Inc. now owns 560,903 shares of the real estate investment trust’s stock valued at $25,336,000 after purchasing an additional 77,503 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in CubeSmart by 23.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 154,856 shares of the real estate investment trust’s stock valued at $6,921,000 after buying an additional 29,184 shares during the period. 97.61% of the stock is currently owned by hedge funds and other 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.