CubeSmart (NYSE:CUBE) Stock Has Consensus Target Price of $42.73 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on CubeSmart, with eight hold ratings and six buys. The average 12-month price target is $42.73, compared with the stock’s reported price of $39.37.
• CubeSmart’s latest quarterly results were mixed: revenue rose 1.5% year over year to $286.49 million and exceeded estimates, but earnings per share of $0.39 missed consensus by $0.25.
• The company pays a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 dividend and a 5.4% yield; institutional investors and hedge funds own 97.61% of its stock.

Shares of CubeSmart (NYSE:CUBE - Get Free Report) have earned a consensus recommendation of "Hold" from the fourteen brokerages that are presently covering the stock, MarketBeat reports. Eight 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 target among brokers that have covered the stock in the last year is $42.73.

A number of research firms have recently weighed in on CUBE. Wells Fargo & Company boosted their target price on CubeSmart from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, July 24th. Mizuho cut their price target on CubeSmart from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 2nd. Barclays upgraded CubeSmart from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $45.00 to $46.00 in a report on Friday, July 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of CubeSmart in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $47.00 price objective on shares of CubeSmart in a research report on Tuesday, August 4th.

Institutional Investors Weigh In On CubeSmart

Several institutional investors have recently modified their holdings of the business. Essential Partners LLC grew its position in CubeSmart by 594.7% in the first quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 779 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of CubeSmart by 143.2% in 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 last quarter. SJS Investment Consulting Inc. acquired a new position in CubeSmart during the first quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd increased its position in shares of CubeSmart by 252.0% during the 4th 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 during the last quarter. Finally, Elevation Wealth Partners LLC increased its position in shares of CubeSmart by 38.1% during 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. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Price Performance

CUBE opened at $39.37 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $8.86 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 6.52 and a beta of 1.05. The company's 50 day simple moving average is $39.26 and its 200-day simple moving average is $39.93. CubeSmart has a one year low of $35.09 and a one year high of $43.26.

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

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a dividend of $0.53 per share. The ex-dividend date was Thursday, October 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.4%. CubeSmart's dividend payout ratio is presently 146.21%.

CubeSmart Company Profile

CubeSmart NYSE: CUBE is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.

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