CubeSmart (NYSE:CUBE) Receives Average Rating of "Hold" from Analysts

Shares of CubeSmart (NYSE:CUBE - Get Free Report) have received an average recommendation of "Hold" from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $47.36.

Several equities research analysts have recently commented on CUBE shares. Scotiabank upped their price target on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Barclays cut their price target on CubeSmart from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Friday, May 16th. Evercore ISI upped their price target on CubeSmart from $44.00 to $47.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Mizuho upped their price target on CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada cut their price target on CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CUBE. Blue Trust Inc. raised its position in CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 389 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 559 shares in the last quarter. Allworth Financial LP increased its position in shares of CubeSmart by 115.2% in the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 501 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of CubeSmart by 307.0% in the fourth quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Stock Performance

Shares of CUBE opened at $43.31 on Friday. The stock has a 50 day moving average price of $40.81 and a 200 day moving average price of $42.34. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 11.58 and a beta of 0.98. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. Research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.80%. The ex-dividend date is Tuesday, July 1st. CubeSmart's payout ratio is 123.08%.

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.

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