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

CubeSmart (NYSE:CUBE) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $46.33.

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

Institutional Trading of CubeSmart

Several institutional investors and hedge funds have recently made changes to their positions in CUBE. Commonwealth Equity Services LLC lifted its stake in CubeSmart by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 181,903 shares of the real estate investment trust’s stock valued at $6,936,000 after buying an additional 2,273 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in CubeSmart by 2,376.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 200,000 shares of the real estate investment trust’s stock valued at $7,626,000 after purchasing an additional 191,925 shares during the last quarter. Raymond James & Associates boosted its stake in CubeSmart by 4.1% during the 3rd quarter. Raymond James & Associates now owns 671,823 shares of the real estate investment trust’s stock worth $25,617,000 after purchasing an additional 26,735 shares during the period. New York State Teachers Retirement System grew its position in CubeSmart by 0.9% during the 3rd quarter. New York State Teachers Retirement System now owns 131,424 shares of the real estate investment trust’s stock worth $5,011,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CubeSmart by 4.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,477 shares of the real estate investment trust’s stock valued at $4,479,000 after purchasing an additional 5,154 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CUBE opened at $41.74 on Friday. The stock’s 50-day moving average price is $43.49 and its 200 day moving average price is $42.35. CubeSmart has a 12-month low of $33.17 and a 12-month high of $47.81. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 23.19 and a beta of 0.72. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The business had revenue of $261.41 million for the quarter, compared to analysts’ expectations of $253.91 million. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that CubeSmart will post 2.65 earnings per share for the current year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.89%. CubeSmart’s dividend payout ratio is presently 113.33%.

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.