CubeSmart (NYSE:CUBE) Receives $48.00 Consensus PT from Analysts

Shares of CubeSmart (NYSE:CUBE) have received a consensus rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $48.00.

A number of brokerages have recently commented on CUBE. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and cut their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Wells Fargo & Company decreased their price objective on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Scotiabank lowered CubeSmart from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $52.00 to $46.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and decreased their price target for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd.

Hedge Funds Weigh In On CubeSmart

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in shares of CubeSmart by 74.9% during the 4th 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 during the last quarter. Jones Financial Companies Lllp raised its holdings in CubeSmart by 134.1% in the 4th 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 during the period. Versant Capital Management Inc lifted its position in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 673 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in CubeSmart by 310.6% during 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. boosted its holdings 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 acquiring an additional 351 shares during the period. 97.61% of the stock is owned by institutional investors.

CubeSmart Price Performance

CUBE stock opened at $42.03 on Tuesday. The stock has a 50-day moving average price of $41.88 and a two-hundred day moving average price of $45.78. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The stock has a market cap of $9.58 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. 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 announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The business had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. Equities analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

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.