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

Shares of CubeSmart (NYSE:CUBE) have received a consensus rating of “Hold” from the twelve research firms that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $48.00.

A number of research firms have recently commented on CUBE. Scotiabank cut shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Royal Bank of Canada dropped their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Barclays dropped their price objective on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th.

CubeSmart Stock Performance

NYSE:CUBE opened at $41.79 on Tuesday. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The firm’s 50 day moving average is $41.84 and its two-hundred day moving average is $46.04. The company has a market cap of $9.52 billion, a P/E ratio of 23.61, a P/E/G ratio of 11.58 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. Analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its stake in CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 673 shares during the period. Blue Trust Inc. raised its holdings in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 289 shares during the period. Jones Financial Companies Lllp lifted its stake in CubeSmart by 134.1% during the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 389 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 559 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of CubeSmart by 59.4% during the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 351 shares during the period. 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.