CubeSmart (NYSE:CUBE) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of CubeSmart (NYSE:CUBE) from a neutral rating to an outperform rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $43.00 target price on the real estate investment trust’s stock.

CUBE has been the topic of a number of other reports. Barclays lifted their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. UBS Group cut their target price on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Royal Bank Of Canada boosted their price target on shares of CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, Wells Fargo & Company cut their target price on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $43.64.

CubeSmart Price Performance

Shares of CUBE opened at $36.65 on Wednesday. The company’s fifty day simple moving average is $38.92 and its 200 day simple moving average is $38.61. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 25.28 and a beta of 1.10. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s payout ratio is currently 146.21%.

Insider Buying and Selling at CubeSmart

In related news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the transaction, the insider owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CubeSmart

Several institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in shares of CubeSmart by 73.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,726,419 shares of the real estate investment trust’s stock valued at $62,260,000 after purchasing an additional 731,883 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in CubeSmart by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,204 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 295 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of CubeSmart by 252.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,306 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 935 shares during the period. Kera Capital Partners Inc. raised its stake in CubeSmart by 42.0% in the fourth quarter. Kera Capital Partners Inc. now owns 10,423 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 3,081 shares in the last quarter. Finally, Invesco Ltd. lifted its position in CubeSmart by 8.2% during the fourth quarter. Invesco Ltd. now owns 3,297,286 shares of the real estate investment trust’s stock valued at $118,867,000 after buying an additional 251,022 shares during the period. 97.61% of the stock is currently owned by institutional investors.

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.