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

Shares of CubeSmart (NYSE:CUBE) have received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $46.00.

CUBE has been the topic of several research reports. Wells Fargo & Company upped their price objective on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. BMO Capital Markets lowered CubeSmart from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $50.00 to $47.00 in a research report on Wednesday, May 29th. Barclays initiated coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 target price for the company. Evercore ISI raised their price target on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th. Finally, Raymond James reaffirmed an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th.

CubeSmart Stock Up 0.8 %

CUBE stock opened at $45.17 on Friday. The company has a market capitalization of $10.16 billion, a P/E ratio of 25.09, a PEG ratio of 5.49 and a beta of 0.77. The firm has a 50 day simple moving average of $42.90 and a 200-day simple moving average of $43.94. 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 has a twelve month low of $33.17 and a twelve month high of $47.81.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.22). The company had revenue of $261.41 million for the quarter, compared to analyst estimates of $253.91 million. CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. CubeSmart’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 earnings per share. On average, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 4.52%. CubeSmart’s payout ratio is currently 113.33%.

Hedge Funds Weigh In On CubeSmart

Several hedge funds and other institutional investors have recently made changes to their positions in CUBE. Albion Financial Group UT raised its stake in CubeSmart by 0.3% during the 4th quarter. Albion Financial Group UT now owns 79,508 shares of the real estate investment trust’s stock valued at $3,685,000 after acquiring an additional 254 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of CubeSmart by 0.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 34,500 shares of the real estate investment trust’s stock valued at $1,599,000 after purchasing an additional 266 shares during the period. Covestor Ltd raised its stake in shares of CubeSmart by 11.8% during the first quarter. Covestor Ltd now owns 2,637 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 278 shares in the last quarter. Toronto Dominion Bank lifted its holdings in CubeSmart by 1.2% in the third quarter. Toronto Dominion Bank now owns 24,631 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 281 shares during the period. Finally, Signaturefd LLC grew its position in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 292 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

About CubeSmart

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.