CubeSmart (NYSE:CUBE) Raised to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of CubeSmart (NYSE:CUBE - Free Report) from a market perform rating to an outperform rating in a research report report published on Friday morning, Marketbeat.com reports. They currently have $49.00 price objective on the real estate investment trust's stock, up from their previous price objective of $48.00.

A number of other equities research analysts also recently weighed in on CUBE. Evercore ISI boosted their price objective on shares of CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Truist Financial boosted their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Royal Bank Of Canada lowered their price objective on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Scotiabank upped their price target on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company reduced their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $47.47.

CubeSmart Stock Up 1.3%

CUBE stock traded up $0.56 during trading on Friday, reaching $42.93. The stock had a trading volume of 1,777,096 shares, compared to its average volume of 1,529,980. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $9.79 billion, a P/E ratio of 25.40, a PEG ratio of 7.79 and a beta of 0.98. The firm has a fifty day moving average price of $41.85 and a 200 day moving average price of $41.84.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The firm had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. During the same quarter in the previous year, the business posted $0.64 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Tuesday, July 1st. CubeSmart's payout ratio is 123.08%.

Institutional Trading of CubeSmart

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 559 shares in the last quarter. Allworth Financial LP lifted its position in shares of CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 501 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of CubeSmart by 307.0% in the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 915 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.