CubeSmart (NYSE:CUBE) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• CubeSmart has a consensus “Hold” rating from 14 analysts: eight recommend holding the stock and six recommend buying it. The average 12-month price target is $43.36, versus a recent share price of $37.84.
• The self-storage REIT reported quarterly EPS of $0.39, missing the $0.64 consensus estimate, while revenue of $286.49 million exceeded expectations and rose 1.5% year over year.
• CubeSmart declared a quarterly dividend of $0.53 per share, equivalent to $2.12 annually and a 5.6% yield. Institutional investors and hedge funds own 97.61% of the company’s shares.

CubeSmart (NYSE:CUBE - Get Free Report) has been assigned a consensus rating of "Hold" from the fourteen analysts that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $43.36.

A number of equities research analysts have weighed in on CUBE shares. Raymond James Financial assumed coverage on shares of CubeSmart in a research note on Wednesday, July 15th. They set an "outperform" rating and a $44.00 price target on the stock. Truist Financial increased their price objective on shares of CubeSmart from $41.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Wells Fargo & Company raised their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Friday, July 24th. Mizuho decreased their target price on shares of CubeSmart from $42.00 to $41.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 2nd. Finally, Evercore set a $46.00 target price on shares of CubeSmart in a research note on Monday.

CubeSmart Trading Up 0.6%

Shares of CUBE opened at $37.84 on Friday. The stock's 50-day moving average price is $40.53 and its 200 day moving average price is $39.88. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 6.19 and a beta of 1.05. CubeSmart has a 12-month low of $35.09 and a 12-month high of $43.26.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.25). The firm had revenue of $286.49 million during the quarter, compared to the consensus estimate of $281.12 million. CubeSmart had a return on equity of 12.35% and a net margin of 29.41%.CubeSmart's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, research analysts predict that CubeSmart will post 2.57 earnings per share for the current year.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Thursday, October 1st. CubeSmart's payout ratio is presently 146.21%.

Hedge Funds Weigh In On CubeSmart

A number of hedge funds have recently modified their holdings of CUBE. Essential Partners LLC boosted its stake in CubeSmart by 594.7% in the 1st quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 779 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of CubeSmart by 143.2% during the second quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 554 shares during the period. SJS Investment Consulting Inc. acquired a new stake in shares of CubeSmart in the 1st quarter valued at $42,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of CubeSmart by 252.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,306 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 935 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in shares of CubeSmart by 38.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 391 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

About CubeSmart

CubeSmart NYSE: CUBE is a self-administered and self-managed real estate investment trust that owns, operates and develops self-storage facilities in the United States. Its facilities provide individuals and businesses with storage units in a range of sizes, along with related services such as tenant insurance and online rental and payment options.

In addition to managing its owned properties, CubeSmart provides third-party management services for self-storage facilities owned by other parties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.