CubeSmart (NYSE:CUBE) Upgraded to “Outperform” at BNP Paribas Exane

BNP Paribas Exane upgraded shares of CubeSmart (NYSE:CUBE) from a neutral rating to an outperform rating in a report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $43.00 price target on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on the stock. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Mizuho cut their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Barclays lifted their target price on CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Royal Bank Of Canada boosted their price target on CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.64.

CubeSmart Price Performance

CUBE opened at $38.39 on Wednesday. The company’s 50 day simple moving average is $38.92 and its 200 day simple moving average is $38.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The stock has a market capitalization of $8.72 billion, a PE ratio of 26.48 and a beta of 1.10.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Insider Buying and Selling

In related news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the transaction, the insider directly owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.69% of the company’s stock.

Hedge Funds Weigh In On CubeSmart

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in CubeSmart by 1.3% during the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock valued at $7,429,000 after purchasing an additional 2,284 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 6,412 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after buying an additional 19,476 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of CubeSmart during the first quarter worth approximately $270,000. Finally, ProShare Advisors LLC increased its stake in shares of CubeSmart by 4.9% in the second quarter. ProShare Advisors LLC now owns 10,108 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds 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.