CubeSmart (NYSE:CUBE) Given Consensus Rating of "Hold" by Analysts

CubeSmart (NYSE:CUBE - Get Free Report) has received an average rating of "Hold" from the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $46.33.

Several equities research analysts recently commented on CUBE shares. Evercore ISI upped their target price on CubeSmart from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday, March 4th. BMO Capital Markets raised CubeSmart from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $46.00 to $49.00 in a research report on Friday, December 15th. Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a research note on Tuesday, January 30th. They set a "sell" rating and a $40.00 price objective for the company. Jefferies Financial Group raised CubeSmart from a "hold" rating to a "buy" rating and lifted their price target for the stock from $38.00 to $53.00 in a research note on Tuesday, January 2nd. Finally, Barclays started coverage on CubeSmart in a report on Wednesday, March 27th. They issued an "equal weight" rating and a $48.00 price objective on the stock.

CubeSmart Price Performance

Shares of CubeSmart stock traded up $0.85 during trading on Tuesday, reaching $46.58. 1,507,496 shares of the company's stock were exchanged, compared to its average volume of 1,511,532. CubeSmart has a 1-year low of $33.17 and a 1-year high of $48.93. The firm's 50-day moving average price is $44.01 and its 200 day moving average price is $41.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market cap of $10.48 billion, a P/E ratio of 25.73 and a beta of 0.69.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a $0.51 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.04 annualized dividend and a yield of 4.38%. CubeSmart's dividend payout ratio is presently 112.71%.

Institutional Investors Weigh In On CubeSmart

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its position in CubeSmart by 461.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,244 shares of the real estate investment trust's stock worth $1,053,000 after acquiring an additional 16,636 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of CubeSmart in the first quarter valued at $227,000. Great West Life Assurance Co. Can raised its holdings in CubeSmart by 6.1% in the first quarter. Great West Life Assurance Co. Can now owns 191,579 shares of the real estate investment trust's stock valued at $10,354,000 after acquiring an additional 10,933 shares in the last quarter. Yousif Capital Management LLC raised its holdings in CubeSmart by 7.3% in the first quarter. Yousif Capital Management LLC now owns 11,869 shares of the real estate investment trust's stock valued at $618,000 after acquiring an additional 810 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of CubeSmart by 63.5% in the 1st quarter. Allianz Asset Management GmbH now owns 536,244 shares of the real estate investment trust's stock worth $27,901,000 after buying an additional 208,256 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.