CubeSmart (NYSE:CUBE) Given “Outperform” Rating at Raymond James

Raymond James reissued their outperform rating on shares of CubeSmart (NYSE:CUBEFree Report) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $48.00 price objective on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a research report on Tuesday, January 30th. They set a sell rating and a $40.00 target price on the stock. Jefferies Financial Group raised CubeSmart from a hold rating to a buy rating and upped their target price for the stock from $38.00 to $53.00 in a research report on Tuesday, January 2nd. BMO Capital Markets raised CubeSmart from a market perform rating to an outperform rating and increased their price target for the company from $46.00 to $49.00 in a research report on Friday, December 15th. Evercore ISI increased their price target on CubeSmart from $43.00 to $45.00 and gave the company an in-line rating in a research report on Monday, March 4th. Finally, Barclays began coverage on CubeSmart in a research report on Wednesday. They issued an equal weight rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $46.00.

Check Out Our Latest Analysis on CUBE

CubeSmart Price Performance

CubeSmart stock opened at $45.19 on Thursday. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 24.97 and a beta of 0.69. CubeSmart has a 52-week low of $33.17 and a 52-week high of $48.93. The stock’s 50 day moving average price is $43.99 and its two-hundred day moving average price is $41.62. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a dividend of $0.51 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.51%. CubeSmart’s dividend payout ratio is 112.71%.

Hedge Funds Weigh In On CubeSmart

A number of large investors have recently modified their holdings of CUBE. GAMMA Investing LLC purchased a new position in shares of CubeSmart during the 4th quarter valued at about $28,000. Signaturefd LLC raised its holdings in shares of CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 292 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of CubeSmart during the 4th quarter valued at about $37,000. Quarry LP purchased a new position in shares of CubeSmart during the 2nd quarter valued at about $37,000. Finally, Sunbelt Securities Inc. purchased a new position in CubeSmart in the 1st quarter worth approximately $46,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

About CubeSmart

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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.

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Analyst Recommendations for CubeSmart (NYSE:CUBE)

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