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

Shares of CubeSmart (NYSE:CUBE) have earned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $43.6429.

CUBE has been the subject of several recent research reports. Truist Financial lowered their price objective on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Wells Fargo & Company decreased their target price on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. BNP Paribas Exane upgraded shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Wednesday, March 18th. Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Finally, Barclays raised their price target on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th.

CubeSmart Trading Up 0.1%

Shares of CUBE stock opened at $37.23 on Friday. The stock has a market capitalization of $8.46 billion, a PE ratio of 25.68 and a beta of 1.13. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13. The business has a 50-day moving average of $38.48 and a 200 day moving average of $38.31. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.7%. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Insider Transactions at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the company’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 completion of the transaction, the insider owned 205,057 shares of the company’s stock, valued at $8,411,438.14. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CubeSmart

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in CubeSmart by 1.3% in the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after acquiring an additional 2,284 shares during the period. Jones Financial Companies Lllp raised its holdings in CubeSmart by 944.3% in the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 6,412 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in CubeSmart by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after purchasing an additional 19,476 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of CubeSmart in the 1st quarter worth about $270,000. Finally, Cetera Investment Advisers lifted its position in shares of CubeSmart by 1.6% in the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 265 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

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.