Analysts Set CubeSmart (NYSE:CUBE) PT at $46.33

CubeSmart (NYSE:CUBE) has received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $46.33.

A number of research analysts have weighed in on the stock. Raymond James reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of CubeSmart in a research note on Thursday, March 28th. Wells Fargo & Company raised their price objective on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Evercore ISI raised their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, March 4th. Barclays assumed coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price objective on the stock. Finally, Truist Financial raised their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, December 28th.

Institutional Trading of CubeSmart

A number of large investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in CubeSmart during the first quarter worth about $26,000. Mather Group LLC. bought a new position in CubeSmart during the first quarter worth about $26,000. GAMMA Investing LLC bought a new position in CubeSmart during the fourth quarter worth about $28,000. Signaturefd LLC boosted its position in CubeSmart by 72.5% during the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 292 shares during the period. Finally, Ceredex Value Advisors LLC bought a new position in shares of CubeSmart in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Down 2.7 %

CubeSmart stock opened at $42.63 on Tuesday. CubeSmart has a 1-year low of $33.17 and a 1-year high of $47.81. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 23.55 and a beta of 0.69. The firm’s fifty day moving average price is $44.03 and its two-hundred day moving average price is $42.07. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a yield of 4.79%. CubeSmart’s dividend payout ratio (DPR) is presently 112.71%.

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.