CubeSmart (NYSE:CUBE) Receives $48.00 Average Price Target from Analysts

Shares of CubeSmart (NYSE:CUBE) have received an average recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $48.00.

A number of analysts have recently issued reports on CUBE shares. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Barclays lowered their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Royal Bank of Canada lowered their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 10th.

Institutional Trading of CubeSmart

Several hedge funds have recently modified their holdings of the company. Howard Capital Management Group LLC purchased a new stake in CubeSmart during the third quarter valued at approximately $212,000. Advisors Asset Management Inc. increased its position in shares of CubeSmart by 11.8% during the third quarter. Advisors Asset Management Inc. now owns 5,010 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 529 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CubeSmart by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after purchasing an additional 135,211 shares during the last quarter. Citigroup Inc. boosted its position in shares of CubeSmart by 28.3% in the 3rd quarter. Citigroup Inc. now owns 116,903 shares of the real estate investment trust’s stock worth $6,293,000 after purchasing an additional 25,756 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in CubeSmart by 6.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 75,135 shares of the real estate investment trust’s stock worth $4,045,000 after buying an additional 4,853 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CubeSmart stock opened at $42.75 on Tuesday. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $41.91 and a 200-day moving average price of $45.65. The firm has a market capitalization of $9.74 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. As a group, equities research analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.87%. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

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.