CubeSmart (NYSE:CUBE) Upgraded at KeyCorp

KeyCorp upgraded shares of CubeSmart (NYSE:CUBE) from a sector weight rating to an overweight rating in a report issued on Thursday, Marketbeat reports. The firm currently has $47.00 price objective on the real estate investment trust’s stock.

A number of other research firms have also weighed in on CUBE. Royal Bank of Canada cut their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Barclays dropped their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Scotiabank lowered shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $52.00 to $46.00 in a research report on Wednesday. Finally, Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.08.

CubeSmart Stock Down 0.5 %

NYSE:CUBE opened at $42.24 on Thursday. The firm has a market capitalization of $9.62 billion, a P/E ratio of 23.86, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The company’s fifty day moving average price is $41.80 and its 200-day moving average price is $46.89. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.92%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s payout ratio is 120.93%.

Hedge Funds Weigh In On CubeSmart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its stake in shares of CubeSmart by 19.8% in the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 227 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 233 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of CubeSmart by 0.8% in the third quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after buying an additional 243 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of CubeSmart by 4.5% in the third quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 248 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of CubeSmart by 74.9% in the fourth 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 in the last quarter. 97.61% of the stock is owned by hedge funds and other 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.