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

CubeSmart (NYSE:CUBE) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $49.91.

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price target for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $54.00 in a report on Friday, September 13th. 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. Scotiabank lowered their target price on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Finally, Evercore ISI lifted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Monday, September 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CUBE. Nordea Investment Management AB grew its stake in CubeSmart by 4.7% in the 4th quarter. Nordea Investment Management AB now owns 427,579 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 19,012 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of CubeSmart in the fourth quarter valued at approximately $231,000. Versant Capital Management Inc increased its stake in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 673 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in CubeSmart during the 3rd quarter worth approximately $442,000. Finally, Franklin Resources Inc. boosted its stake in CubeSmart by 13.1% in the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock valued at $15,950,000 after purchasing an additional 36,919 shares during the period. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Down 0.7 %

NYSE CUBE opened at $41.28 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a market capitalization of $9.34 billion, a PE ratio of 23.32, a P/E/G ratio of 13.00 and a beta of 0.87. The stock has a 50-day simple moving average of $46.29 and a 200 day simple moving average of $48.33.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share 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 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 revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Research analysts forecast that CubeSmart will post 2.63 EPS for the current year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.52 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is 117.51%.

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.