CubeSmart (NYSE:CUBE) Receives Average Rating of “Hold” from Analysts

CubeSmart (NYSE:CUBE) has been assigned a consensus recommendation of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $45.25.

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Deutsche Bank Aktiengesellschaft set a $45.00 price objective on shares of CubeSmart and gave the stock a “buy” rating in a research report on Monday, October 13th. Truist Financial dropped their target price on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Mizuho cut their target price on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, Evercore ISI reduced their price target on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd.

Institutional Trading of CubeSmart

Large investors have recently bought and sold shares of the business. 1832 Asset Management L.P. boosted its holdings in CubeSmart by 35.2% in the 1st quarter. 1832 Asset Management L.P. now owns 13,702 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 3,564 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in CubeSmart by 50.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,383 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,465 shares during the last quarter. Jump Financial LLC acquired a new position in CubeSmart in the first quarter valued at approximately $824,000. MetLife Investment Management LLC grew its position in CubeSmart by 63.7% in the first quarter. MetLife Investment Management LLC now owns 219,496 shares of the real estate investment trust’s stock worth $9,375,000 after acquiring an additional 85,414 shares during the period. Finally, Epoch Investment Partners Inc. increased its stake in CubeSmart by 2.4% during the first quarter. Epoch Investment Partners Inc. now owns 189,052 shares of the real estate investment trust’s stock worth $8,074,000 after acquiring an additional 4,446 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

Shares of CubeSmart stock opened at $35.95 on Thursday. The firm has a market cap of $8.20 billion, a PE ratio of 23.05, a P/E/G ratio of 7.84 and a beta of 1.11. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $37.65 and a 200 day moving average price of $39.89.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The company had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. CubeSmart’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 earnings per share. Sell-side analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.9%. CubeSmart’s payout ratio is currently 133.33%.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.