CubeSmart (NYSE:CUBE) Receives Consensus Recommendation of "Hold" from Analysts

CubeSmart (NYSE:CUBE - Get Free Report) has been given a consensus rating of "Hold" by the fourteen brokerages that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $46.93.

Several brokerages recently commented on CUBE. Wells Fargo & Company decreased their price objective on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Bank of America raised shares of CubeSmart from a "neutral" rating to a "buy" rating and raised their price target for the stock from $44.00 to $50.00 in a research report on Tuesday. Evercore ISI raised their price target on shares of CubeSmart from $44.00 to $47.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Barclays reduced their price target on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, Scotiabank raised their price target on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Monday.

Institutional Investors Weigh In On CubeSmart

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of CubeSmart by 19.7% during the 4th quarter. Bank of Montreal Can now owns 70,505 shares of the real estate investment trust's stock worth $3,021,000 after purchasing an additional 11,608 shares during the period. Norges Bank acquired a new stake in shares of CubeSmart during the 4th quarter worth approximately $408,064,000. Raymond James Financial Inc. acquired a new stake in CubeSmart in the 4th quarter valued at $21,278,000. Oak Thistle LLC grew its stake in CubeSmart by 232.9% in the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust's stock valued at $1,383,000 after acquiring an additional 22,582 shares during the period. Finally, LPL Financial LLC grew its stake in CubeSmart by 19.2% in the 4th quarter. LPL Financial LLC now owns 108,610 shares of the real estate investment trust's stock valued at $4,654,000 after acquiring an additional 17,518 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Performance

Shares of CubeSmart stock traded up $1.00 during midday trading on Wednesday, hitting $43.67. The company had a trading volume of 1,745,436 shares, compared to its average volume of 1,481,929. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 11.58 and a beta of 1.00. 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 fifty day simple moving average of $40.59 and a 200 day simple moving average of $43.00. CubeSmart has a 12-month low of $34.24 and a 12-month high of $55.14.

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

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.76%. 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.