CubeSmart (NYSE:CUBE) Given Average Recommendation of “Hold” by Brokerages

CubeSmart (NYSE:CUBE) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $47.38.

Several equities analysts have recently weighed in on CUBE shares. Mizuho lifted their target price on shares of CubeSmart from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Scotiabank lifted their price target on CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Wolfe Research began coverage on CubeSmart in a report on Monday, May 19th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Evercore ISI raised their target price on CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a research note on Friday, May 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its stake in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 389 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 559 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 501 shares in the last quarter. Huntington National Bank grew its position in shares of CubeSmart by 307.0% in the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 915 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of CubeSmart during the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

Shares of CUBE opened at $43.02 on Thursday. The firm has a market cap of $9.81 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 7.83 and a beta of 0.96. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.07 and a current ratio of 0.07. The business’s 50 day moving average price is $42.34 and its two-hundred day moving average price is $41.70.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The firm had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. During the same period last year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.83%. CubeSmart’s dividend payout ratio is presently 123.08%.

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.