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

Shares of CubeSmart (NYSE:CUBE) have received an average rating of “Hold” from the eleven research firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.73.

A number of research firms recently weighed in on CUBE. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Barclays lowered their price target on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and cut their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. Wells Fargo & Company raised their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada cut their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Oak Thistle LLC grew its holdings in CubeSmart by 232.9% in the fourth quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock valued at $1,383,000 after purchasing an additional 22,582 shares during the last quarter. BNP Paribas Financial Markets grew its stake in CubeSmart by 32.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock valued at $8,531,000 after acquiring an additional 39,270 shares during the last quarter. Franklin Resources Inc. increased its holdings in CubeSmart by 13.1% during 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 acquiring an additional 36,919 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in CubeSmart during the 3rd quarter valued at about $628,000. Finally, Harbor Capital Advisors Inc. raised its position in CubeSmart by 127.1% during the third quarter. Harbor Capital Advisors Inc. now owns 33,013 shares of the real estate investment trust’s stock worth $1,777,000 after acquiring an additional 18,475 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Down 0.0 %

NYSE CUBE opened at $42.38 on Monday. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The stock has a market capitalization of $9.58 billion, a P/E ratio of 23.94, a PEG ratio of 11.67 and a beta of 0.87. The firm’s 50-day moving average is $43.13 and its two-hundred day moving average is $47.65. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Thursday, January 2nd. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio is 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.