CubeSmart (NYSE:CUBE) Given Average Rating of “Hold” by Analysts

Shares of CubeSmart (NYSE:CUBE) have received an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $50.00.

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Royal Bank of Canada reduced their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and decreased their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Wells Fargo & Company lifted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Barclays decreased their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday.

CubeSmart Stock Down 0.3 %

CUBE stock opened at $40.51 on Thursday. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The business’s 50 day simple moving average is $45.70 and its 200 day simple moving average is $48.23. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $9.16 billion, a PE ratio of 22.89, a PEG ratio of 11.06 and a beta of 0.87.

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

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.13%. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s dividend payout ratio is presently 117.51%.

Hedge Funds Weigh In On CubeSmart

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. increased its stake in CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 444 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of CubeSmart in the 3rd quarter valued at $33,000. Versant Capital Management Inc increased its stake in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 673 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of CubeSmart during the 2nd quarter worth $33,000. Finally, Brooklyn Investment Group bought a new stake in shares of CubeSmart during the 3rd quarter worth $59,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.