CubeSmart (NYSE:CUBE) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of CubeSmart (NYSE:CUBE) from a hold rating to a sell rating in a research report released on Sunday.

Several other brokerages have also issued reports on CUBE. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a report on Monday, December 8th. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Truist Financial lowered their price target on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Finally, Deutsche Bank Aktiengesellschaft lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus target price of $44.13.

CubeSmart Stock Performance

CubeSmart stock opened at $40.99 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. The stock has a market cap of $9.31 billion, a PE ratio of 28.27, a P/E/G ratio of 13.02 and a beta of 1.10. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The business’s 50-day moving average price is $38.16 and its two-hundred day moving average price is $38.70.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.12 annualized dividend and a yield of 5.2%. CubeSmart’s payout ratio is presently 146.21%.

Institutional Investors Weigh In On CubeSmart

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of CubeSmart in the fourth quarter worth approximately $395,968,000. JPMorgan Chase & Co. raised its holdings in CubeSmart by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock worth $217,162,000 after purchasing an additional 91,694 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CubeSmart by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,714,128 shares of the real estate investment trust’s stock worth $169,975,000 after purchasing an additional 52,207 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of CubeSmart by 36.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after purchasing an additional 1,143,464 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of CubeSmart by 3.1% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,469,724 shares of the real estate investment trust’s stock valued at $125,084,000 after purchasing an additional 105,105 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.