CubeSmart (NYSE:CUBE) Receives Average Recommendation of “Hold” from Analysts

Shares of CubeSmart (NYSE:CUBE) have earned an average rating of “Hold” from the eleven research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $49.91.

CUBE has been the subject of several recent research reports. Barclays dropped their price target on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Royal Bank of Canada cut their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Scotiabank lowered their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd.

CubeSmart Stock Down 0.7 %

Shares of CUBE opened at $41.28 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The company has a 50-day simple moving average of $46.29 and a 200-day simple moving average of $48.33. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The firm has a market capitalization of $9.34 billion, a P/E ratio of 23.32, a P/E/G ratio of 13.00 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The firm had revenue of $270.90 million during 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 business posted $0.68 EPS. On average, equities research analysts expect that CubeSmart will post 2.63 earnings per share for the current year.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.04%. This is a positive change 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%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of CubeSmart by 302.0% during 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 period. Peterson Financial Group Inc. acquired a new position in CubeSmart during the 3rd quarter valued at about $33,000. Versant Capital Management Inc boosted 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 bought a new position in shares of CubeSmart in the 2nd quarter valued at about $33,000. Finally, Brooklyn Investment Group acquired a new stake in shares of CubeSmart during the 3rd quarter worth approximately $59,000. 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.