CubeSmart (NYSE:CUBE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of CubeSmart (NYSE:CUBE) have been assigned an average rating of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $50.50.

A number of analysts have commented on CUBE shares. Raymond James lifted their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Scotiabank began coverage on CubeSmart in a report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 target price for the company. Wells Fargo & Company increased their price target on shares of CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $54.00 in a research note on Friday, September 13th.

CubeSmart Stock Performance

CUBE opened at $51.16 on Tuesday. The company has a market cap of $11.52 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 9.57 and a beta of 0.82. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. The firm’s 50-day moving average price is $51.10 and its 200-day moving average price is $46.40. CubeSmart has a 52-week low of $33.17 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The company had revenue of $266.20 million for the quarter, compared to analyst estimates of $260.68 million. During the same quarter in the previous year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.51 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.99%. CubeSmart’s dividend payout ratio (DPR) is currently 113.33%.

Insider Activity at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $47.30, for a total value of $366,054.70. Following the sale, the insider now directly owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following the transaction, the insider now owns 182,460 shares in the company, valued at $8,630,358. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the completion of the sale, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at approximately $27,947,704.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,217 shares of company stock worth $4,244,344 in the last 90 days. Corporate insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. purchased a new stake in CubeSmart during the 1st quarter worth approximately $26,000. Whittier Trust Co. raised its stake in CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 323 shares during the last quarter. Rise Advisors LLC purchased a new position in CubeSmart in the 1st quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in CubeSmart during the 2nd quarter worth $33,000. Finally, Larson Financial Group LLC purchased a new stake in shares of CubeSmart during the first quarter worth $45,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

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.