CubeSmart (NYSE:CUBE) Upgraded at Scotiabank

Scotiabank upgraded shares of CubeSmart (NYSE:CUBE) to a hold rating in a research report released on Thursday morning,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Wells Fargo & Company dropped their target price on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. BNP Paribas Exane raised CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Wednesday. Finally, UBS Group lowered their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average target price of $43.64.

CubeSmart Trading Down 4.1%

NYSE CUBE opened at $36.65 on Thursday. The company has a market capitalization of $8.32 billion, a PE ratio of 25.28 and a beta of 1.10. The company has a fifty day moving average of $38.92 and a 200 day moving average of $38.61. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio is presently 146.21%.

Insider Activity at CubeSmart

In related news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On CubeSmart

Hedge funds have recently bought and sold shares of the business. Wiser Advisor Group LLC purchased a new stake in shares of CubeSmart in the third quarter valued at approximately $28,000. Private Trust Co. NA grew its stake in CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 478 shares during the period. Geneos Wealth Management Inc. grew its stake in CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 568 shares during the period. Huntington National Bank increased its holdings in CubeSmart by 43.3% in the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. purchased a new stake in CubeSmart in the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Company Profile

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.