CubeSmart (NYSE:CUBE) Given Average Rating of “Hold” by Analysts

CubeSmart (NYSE:CUBE) has earned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $44.1333.

Several brokerages have weighed in on CUBE. Barclays lowered their target price on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Truist Financial reduced their target price on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Tuesday, January 20th. Wells Fargo & Company cut their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th.

CubeSmart Trading Down 0.1%

NYSE:CUBE opened at $38.58 on Friday. The company has a market capitalization of $8.80 billion, a PE ratio of 24.73, a P/E/G ratio of 11.83 and a beta of 1.12. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The stock’s 50 day moving average price is $37.17 and its 200 day moving average price is $38.70. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.53 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.12 annualized dividend and a dividend yield of 5.5%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s payout ratio is presently 135.90%.

Hedge Funds Weigh In On CubeSmart

Several hedge funds have recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. grew its stake in CubeSmart by 4.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust’s stock worth $73,748,000 after acquiring an additional 75,855 shares during the period. Aew Capital Management L P boosted its holdings in shares of CubeSmart by 164,585.0% during the second quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock worth $27,996,000 after purchasing an additional 658,340 shares during the last quarter. Capital Fund Management S.A. acquired a new position in CubeSmart in the second quarter valued at $1,583,000. Davidson Investment Advisors lifted its position in CubeSmart by 29.3% during the third quarter. Davidson Investment Advisors now owns 460,024 shares of the real estate investment trust’s stock worth $18,705,000 after buying an additional 104,283 shares during the period. Finally, Pacific Heights Asset Management LLC acquired a new stake in CubeSmart in the 3rd quarter worth about $12,198,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

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.