CubeSmart (NYSE:CUBE – Get Rating) – Research analysts at KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for CubeSmart in a report issued on Sunday, March 12th. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will post earnings per share of $0.69 for the quarter. The consensus estimate for CubeSmart’s current full-year earnings is $2.71 per share. KeyCorp also issued estimates for CubeSmart’s Q2 2024 earnings at $0.72 EPS, Q3 2024 earnings at $0.72 EPS, Q4 2024 earnings at $0.72 EPS and FY2024 earnings at $2.86 EPS.
Several other brokerages have also commented on CUBE. Truist Financial raised their price objective on CubeSmart from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, March 8th. Wolfe Research started coverage on CubeSmart in a research report on Tuesday, January 17th. They set an “outperform” rating and a $48.00 price objective for the company. Raymond James lowered their price target on CubeSmart from $58.00 to $48.00 and set a “strong-buy” rating for the company in a research report on Monday, January 9th. Finally, Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the stock from $47.00 to $41.00 in a research report on Monday, January 2nd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.57.
CubeSmart Stock Performance
Hedge Funds Weigh In On CubeSmart
Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its stake in shares of CubeSmart by 3.3% during the 2nd quarter. Mackenzie Financial Corp now owns 7,042 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 226 shares during the period. M&T Bank Corp grew its stake in shares of CubeSmart by 1.0% during the 3rd quarter. M&T Bank Corp now owns 25,747 shares of the real estate investment trust’s stock valued at $1,030,000 after purchasing an additional 257 shares during the period. Allworth Financial LP grew its stake in shares of CubeSmart by 60.7% during the 4th quarter. Allworth Financial LP now owns 715 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 270 shares during the period. Assetmark Inc. grew its stake in shares of CubeSmart by 10.9% during the 3rd quarter. Assetmark Inc. now owns 2,800 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 275 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of CubeSmart by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 23,796 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 93.62% of the company’s stock.
CubeSmart Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Monday, April 3rd will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Friday, March 31st. CubeSmart’s dividend payout ratio (DPR) is 151.94%.
CubeSmart operates as a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.
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