CubeSmart (NYSE:CUBE) Receives $48.00 Average PT from Brokerages

Shares of CubeSmart (NYSE:CUBE) have received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $48.00.

A number of equities research analysts recently commented on the company. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and decreased their target price for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Barclays dropped their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and reduced their target price for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Wells Fargo & Company cut their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Finally, Royal Bank of Canada reduced their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

Institutional Trading of CubeSmart

A number of institutional investors and hedge funds have recently made changes to their positions in CUBE. Versant Capital Management Inc raised its position in shares of 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 worth $29,000 after purchasing an additional 673 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake 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 during the last quarter. Finally, UMB Bank n.a. increased its position 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 worth $40,000 after purchasing an additional 351 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Up 1.6 %

Shares of CubeSmart stock opened at $42.75 on Tuesday. The firm’s 50 day simple moving average is $41.91 and its two-hundred day simple moving average is $45.65. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. 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 (NYSE:CUBE) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million for the quarter, compared to the consensus estimate of $267.54 million. Analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s payout ratio is currently 120.93%.

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.