CubeSmart (NYSE:CUBE) Receives $46.33 Consensus Target Price from Analysts

CubeSmart (NYSE:CUBE - Get Free Report) has received a consensus rating of "Hold" from the eleven research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $46.33.

A number of brokerages recently issued reports on CUBE. Evercore ISI increased their price target on CubeSmart from $43.00 to $45.00 and gave the stock an "in-line" rating in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a research note on Tuesday, January 30th. They issued a "sell" rating and a $40.00 price target on the stock. Wells Fargo & Company boosted their target price on CubeSmart from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Friday, April 5th. Raymond James reissued an "outperform" rating and set a $48.00 price objective on shares of CubeSmart in a report on Thursday, March 28th. Finally, Barclays assumed coverage on CubeSmart in a research report on Wednesday, March 27th. They issued an "equal weight" rating and a $48.00 target price for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in shares of CubeSmart during the 1st quarter valued at $26,000. Rise Advisors LLC bought a new stake in CubeSmart in the first quarter worth about $26,000. GAMMA Investing LLC purchased a new position in CubeSmart in the fourth quarter valued at about $28,000. Signaturefd LLC grew its position in shares of CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 292 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of CubeSmart during the 4th quarter worth approximately $37,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Up 0.7 %

Shares of CUBE stock traded up $0.30 on Friday, hitting $41.75. The stock had a trading volume of 2,051,083 shares, compared to its average volume of 1,313,288. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. CubeSmart has a twelve month low of $33.17 and a twelve month high of $47.81. The company has a fifty day moving average price of $43.46 and a two-hundred day moving average price of $42.38. The firm has a market cap of $9.39 billion, a P/E ratio of 23.19 and a beta of 0.72.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.22). The business had revenue of $261.41 million during the quarter, compared to analyst estimates of $253.91 million. CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. CubeSmart's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. As a group, analysts forecast that CubeSmart will post 2.65 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.89%. CubeSmart's payout ratio is 113.33%.

CubeSmart Company Profile

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.