CubeSmart (NYSE:CUBE) Price Target Raised to $45.00

CubeSmart (NYSE:CUBE) had its target price increased by Barclays from $43.00 to $45.00 in a report released on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on CUBE. Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Wolfe Research downgraded CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Mizuho dropped their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Wells Fargo & Company decreased their price target on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.07.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $40.20 on Thursday. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company has a current ratio of 0.04, a quick ratio of 0.47 and a debt-to-equity ratio of 1.24. The company has a market cap of $9.13 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 12.52 and a beta of 1.10. The company’s 50 day moving average is $38.44 and its 200 day moving average is $38.73.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s payout ratio is 146.21%.

Insider Transactions at CubeSmart

In other news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $8,411,438.14. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in shares of CubeSmart by 73.6% in the 4th quarter. Hsbc Holdings PLC now owns 1,726,419 shares of the real estate investment trust’s stock valued at $62,260,000 after acquiring an additional 731,883 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in CubeSmart by 252.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,306 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 935 shares in the last quarter. Kera Capital Partners Inc. lifted its position in shares of CubeSmart by 42.0% during the 4th quarter. Kera Capital Partners Inc. now owns 10,423 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 3,081 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of CubeSmart by 8.2% in the 4th quarter. Invesco Ltd. now owns 3,297,286 shares of the real estate investment trust’s stock valued at $118,867,000 after buying an additional 251,022 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of CubeSmart in the 4th quarter valued at $387,000. Institutional investors and hedge funds 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.