CubeSmart (NYSE:CUBE) Hits New 52-Week Low – Time to Sell?

CubeSmart (NYSE:CUBE)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $39.80 and last traded at $41.43, with a volume of 449301 shares. The stock had previously closed at $41.36.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CUBE shares. Barclays dropped their target price 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 cut their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.73.

CubeSmart Trading Down 0.8 %

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 stock has a market cap of $9.28 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 11.38 and a beta of 0.87. The company has a 50 day moving average of $45.16 and a 200-day moving average of $48.15.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. During the same period in the prior year, the company posted $0.68 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were 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 dividend yield of 5.07%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is 117.51%.

Institutional Investors Weigh In On CubeSmart

A number of hedge funds have recently added to or reduced their stakes in CUBE. Presima Securities ULC lifted its holdings in CubeSmart by 4,092.4% in the fourth quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock valued at $19,042,000 after acquiring an additional 433,790 shares during the period. Exchange Traded Concepts LLC boosted its stake in CubeSmart by 20.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,153 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 543 shares during the last quarter. Impact Partnership Wealth LLC grew its stake in shares of CubeSmart by 35.1% during the 4th quarter. Impact Partnership Wealth LLC now owns 9,427 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 2,448 shares during the period. Red Door Wealth Management LLC purchased a new position in shares of CubeSmart in the 4th quarter worth $1,286,000. Finally, SG Americas Securities LLC grew its position in CubeSmart by 10,685.4% during the fourth quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock valued at $20,936,000 after acquiring an additional 484,049 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

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.