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

Shares of CubeSmart (NYSE:CUBE) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $46.33.

CUBE has been the subject of several recent analyst reports. Raymond James restated an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th. Wells Fargo & Company increased their price objective on CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft assumed coverage on CubeSmart in a research report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 target price on the stock. Evercore ISI raised their price objective on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th. Finally, Barclays assumed coverage on shares of CubeSmart in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price objective on the stock.

Institutional Investors Weigh In On CubeSmart

Several hedge funds have recently modified their holdings of CUBE. Commonwealth Equity Services LLC increased its position in CubeSmart by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 181,903 shares of the real estate investment trust’s stock worth $6,936,000 after purchasing an additional 2,273 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in CubeSmart by 2,376.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 200,000 shares of the real estate investment trust’s stock worth $7,626,000 after acquiring an additional 191,925 shares during the period. Raymond James & Associates grew its holdings in CubeSmart by 4.1% during the third quarter. Raymond James & Associates now owns 671,823 shares of the real estate investment trust’s stock worth $25,617,000 after acquiring an additional 26,735 shares during the period. New York State Teachers Retirement System raised its position in CubeSmart by 0.9% in the third quarter. New York State Teachers Retirement System now owns 131,424 shares of the real estate investment trust’s stock worth $5,011,000 after acquiring an additional 1,124 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CubeSmart by 4.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,477 shares of the real estate investment trust’s stock valued at $4,479,000 after acquiring an additional 5,154 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Down 1.5 %

Shares of NYSE CUBE opened at $41.64 on Friday. CubeSmart has a 52-week low of $33.17 and a 52-week high of $47.81. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The company’s 50-day simple moving average is $43.40 and its 200-day simple moving average is $42.53. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 23.13 and a beta of 0.72.

CubeSmart (NYSE:CUBE) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.22). The business had revenue of $261.41 million for the quarter, compared to analyst estimates of $253.91 million. CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. Equities analysts predict that CubeSmart will post 2.65 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.51 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.90%. CubeSmart’s payout ratio is 113.33%.

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.