Analysts Set CubeSmart (NYSE:CUBE) Target Price at $44.73

Shares of CubeSmart (NYSE:CUBE) have earned a consensus rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $44.40.

CUBE has been the topic of a number of analyst reports. Evercore ISI cut their price objective on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Mizuho decreased their price objective on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Barclays cut their target price on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Tuesday.

Institutional Investors Weigh In On CubeSmart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of CubeSmart by 1.3% during the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after acquiring an additional 2,284 shares during the period. Jones Financial Companies Lllp grew its stake in CubeSmart by 944.3% in the first quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 6,412 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in CubeSmart by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after purchasing an additional 19,476 shares in the last quarter. Caxton Associates LLP purchased a new position in CubeSmart during the 1st quarter worth $270,000. Finally, Voya Investment Management LLC raised its position in CubeSmart by 4.2% during the 1st quarter. Voya Investment Management LLC now owns 32,440 shares of the real estate investment trust’s stock valued at $1,386,000 after purchasing an additional 1,311 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Up 0.2%

Shares of NYSE CUBE opened at $38.97 on Monday. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The business’s 50 day moving average is $36.72 and its two-hundred day moving average is $39.10. The stock has a market capitalization of $8.89 billion, a P/E ratio of 24.98, a PEG ratio of 8.52 and a beta of 1.11.

CubeSmart (NYSE:CUBE) last announced its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.53 per share. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, January 2nd. CubeSmart’s payout ratio is presently 135.90%.

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.