CubeSmart (NYSE:CUBE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of CubeSmart (NYSE:CUBE) have earned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $49.73.

Several equities analysts have commented on CUBE shares. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and dropped their target price for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and dropped their target price for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Scotiabank lowered their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Wells Fargo & Company raised their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 10th.

CubeSmart Stock Performance

CUBE opened at $41.67 on Monday. The firm has a market cap of $9.42 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 11.42 and a beta of 0.87. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. 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 business’s fifty day moving average is $43.93 and its 200-day moving average is $47.86.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). The business 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%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. Sell-side analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.08 annualized dividend and a yield of 4.99%. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s payout ratio is currently 117.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CUBE. Davidson Investment Advisors increased its stake in CubeSmart by 1.2% in the 4th quarter. Davidson Investment Advisors now owns 340,910 shares of the real estate investment trust’s stock worth $14,608,000 after acquiring an additional 3,948 shares during the last quarter. Venturi Wealth Management LLC increased its stake in CubeSmart by 1,195.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,072 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 1,912 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of CubeSmart by 6.9% during the 4th quarter. D.A. Davidson & CO. now owns 13,448 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 867 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of CubeSmart by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,984 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 342 shares during the last quarter. Finally, Principal Securities Inc. increased its position in shares of CubeSmart by 10.8% during the 4th quarter. Principal Securities Inc. now owns 27,430 shares of the real estate investment trust’s stock valued at $1,175,000 after purchasing an additional 2,671 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

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.