Recent Analysts’ Ratings Updates for CubeSmart (CUBE)

A number of research firms have changed their ratings and price targets for CubeSmart (NYSE: CUBE):

• 9/10/2024 – CubeSmart is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $56.00 price target on the stock.
• 8/28/2024 – CubeSmart had its price target raised by analysts at Evercore ISI from $51.00 to $52.00. They now have an “in-line” rating on the stock.
• 8/22/2024 – CubeSmart is now covered by analysts at Scotiabank. They set a “sector outperform” rating and a $53.00 price target on the stock.
• 8/22/2024 – CubeSmart had its price target raised by analysts at Barclays PLC from $48.00 to $55.00. They now have an “equal weight” rating on the stock.
• 8/16/2024 – CubeSmart had its price target raised by analysts at Truist Financial Co. from $44.00 to $50.00. They now have a “hold” rating on the stock.
• 7/26/2024 – CubeSmart had its price target raised by analysts at Wells Fargo & Company from $46.00 to $48.00. They now have an “equal weight” rating on the stock.
• 7/23/2024 – CubeSmart had its price target raised by analysts at Raymond James from $48.00 to $50.00. They now have an “outperform” rating on the stock.
• 7/15/2024 – CubeSmart had its price target raised by analysts at Evercore ISI from $44.00 to $45.00. They now have an “in-line” rating on the stock.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $53.28 on Thursday. The stock has a fifty day moving average price of $48.82 and a two-hundred day moving average price of $45.29. The firm has a market cap of $12.00 billion, a P/E ratio of 29.60, a PEG ratio of 9.48 and a beta of 0.82. CubeSmart has a 1 year low of $33.17 and a 1 year high of $53.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.03 and a current ratio of 0.03.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.23). The business had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. Research analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.51 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.83%. CubeSmart’s dividend payout ratio is currently 113.33%.

Insider Buying and Selling at CubeSmart

In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the sale, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jeffrey P. Foster sold 7,739 shares of CubeSmart stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following the completion of the sale, the insider now directly owns 182,460 shares in the company, valued at approximately $8,630,358. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the transaction, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock valued at $4,244,344 in the last three months. 1.68% of the stock is currently owned by company insiders.

Institutional Trading of CubeSmart

A number of institutional investors have recently added to or reduced their stakes in CUBE. Twin Tree Management LP lifted its position in shares of CubeSmart by 29,720.5% in the first quarter. Twin Tree Management LP now owns 11,630 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 11,591 shares during the last quarter. Evoke Wealth LLC acquired a new stake in CubeSmart in the 4th quarter worth approximately $1,604,000. Tidal Investments LLC boosted its position in CubeSmart by 32.6% during the first quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust’s stock worth $4,040,000 after purchasing an additional 21,967 shares during the period. Boston Trust Walden Corp grew its holdings in CubeSmart by 2.7% during the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust’s stock valued at $39,947,000 after purchasing an additional 23,179 shares during the last quarter. Finally, PGGM Investments raised its position in shares of CubeSmart by 7.3% in the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust’s stock valued at $39,242,000 after purchasing an additional 59,020 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.