Truist Financial Issues Positive Forecast for CubeSmart (NYSE:CUBE) Stock Price

CubeSmart (NYSE:CUBE) had its price target lifted by Truist Financial from $47.00 to $48.00 in a report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada decreased their price target on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Bank of America raised shares of CubeSmart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $50.00 in a research report on Tuesday, May 13th. Barclays decreased their price objective on shares of CubeSmart from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Friday. Mizuho initiated coverage on shares of CubeSmart in a research report on Wednesday, April 9th. They set a “neutral” rating and a $39.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, CubeSmart has an average rating of “Hold” and a consensus target price of $47.07.

CubeSmart Stock Performance

Shares of CUBE stock opened at $43.56 on Monday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The stock has a market capitalization of $9.93 billion, a PE ratio of 24.61, a P/E/G ratio of 11.58 and a beta of 1.00. The firm has a 50 day moving average of $40.66 and a two-hundred day moving average of $42.88.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $273.04 million during the quarter, compared to analysts’ expectations of $268.16 million. During the same quarter last year, the company posted $0.64 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.78%. CubeSmart’s dividend payout ratio (DPR) is presently 123.08%.

Institutional Investors Weigh In On CubeSmart

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the last quarter. Jones Financial Companies Lllp increased its stake in CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 389 shares during the period. SRS Capital Advisors Inc. increased its stake in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 559 shares during the period. Allworth Financial LP increased its stake in CubeSmart by 115.2% in the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 501 shares during the period. Finally, UMB Bank n.a. increased its stake in CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 351 shares during the period. 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.