CubeSmart (NYSE:CUBE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of CubeSmart (NYSE:CUBE) have been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $51.36.

Several equities research analysts have commented on the company. UBS Group lowered CubeSmart from a “buy” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group increased their target price on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Royal Bank of Canada dropped their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Evercore ISI lifted their target price on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Monday, September 16th.

Institutional Trading of CubeSmart

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. grew its stake in CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 323 shares in the last quarter. UMB Bank n.a. grew its position in shares of CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of CubeSmart during the second quarter worth approximately $33,000. Peterson Financial Group Inc. bought a new stake in shares of CubeSmart in the third quarter worth $33,000. Finally, Quarry LP raised its holdings in CubeSmart by 195.6% in the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CubeSmart stock opened at $41.74 on Friday. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a 50 day moving average price of $48.17 and a 200 day moving average price of $48.43. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 13.00 and a beta of 0.84.

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 company 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 firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. Sell-side analysts predict that CubeSmart will post 2.63 earnings per share for the current year.

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a $0.52 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s dividend payout ratio is presently 117.51%.

About CubeSmart

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.