Barclays Cuts CubeSmart (NYSE:CUBE) Price Target to $49.00

CubeSmart (NYSE:CUBE) had its price target reduced by Barclays from $50.00 to $49.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their price target on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.00.

CubeSmart Trading Up 2.4 %

NYSE:CUBE opened at $41.72 on Wednesday. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 11.58 and a beta of 0.88. 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’s 50 day moving average is $41.73 and its 200-day moving average is $46.52.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. Equities analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.99%. CubeSmart’s payout ratio is presently 120.93%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Peterson Financial Group Inc. bought a new position in shares of CubeSmart in the third quarter valued at about $33,000. Blue Trust Inc. raised its holdings in shares of CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 289 shares during the last quarter. Jones Financial Companies Lllp raised its holdings 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 during the last quarter. Versant Capital Management Inc raised its holdings in shares of CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 673 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings 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 during the last quarter. 97.61% of the stock is owned by institutional investors.

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.