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

CubeSmart (NYSE:CUBE) has earned a consensus rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $50.00.

CUBE has been the subject of several research analyst reports. Barclays decreased their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday. Jefferies Financial Group downgraded shares of 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. Wells Fargo & Company lifted their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Evercore ISI lifted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada decreased their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th.

CubeSmart Stock Up 0.5 %

Shares of NYSE:CUBE opened at $40.45 on Thursday. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The business has a 50 day simple moving average of $45.87 and a two-hundred day simple moving average of $48.26. The firm has a market capitalization of $9.15 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 13.00 and a beta of 0.87. 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 (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that CubeSmart will post 2.63 EPS for the current year.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.52 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s payout ratio is currently 117.51%.

Hedge Funds Weigh In On CubeSmart

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in CubeSmart by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after purchasing an additional 624,661 shares during the last quarter. Geode Capital Management LLC grew its holdings in CubeSmart by 1.1% in the third quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after purchasing an additional 50,340 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CubeSmart by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after purchasing an additional 169,600 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CubeSmart by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after buying an additional 135,211 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of CubeSmart by 12.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after buying an additional 303,347 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

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.