CubeSmart (NYSE:CUBE) Stock Has Average Target Price of $43.36

Shares of CubeSmart (NYSE:CUBE) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $43.36.

A number of equities research analysts have commented on CUBE shares. Mizuho dropped their price objective on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 2nd. Barclays upgraded shares of CubeSmart from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $46.00 in a research note on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of CubeSmart in a report on Tuesday, August 4th. Truist Financial raised their price target on CubeSmart from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a report on Tuesday, August 4th.

CubeSmart Trading Down 1.1%

CUBE opened at $37.39 on Friday. The business has a fifty day moving average price of $40.44 and a 200 day moving average price of $39.86. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a 12 month low of $35.09 and a 12 month high of $43.26. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 6.40 and a beta of 1.05.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Friday, July 31st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The company had revenue of $286.49 million during the quarter, compared to analyst estimates of $281.12 million. During the same period in the prior year, the business earned $0.65 EPS. CubeSmart’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts expect that CubeSmart will post 2.57 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, October 1st. CubeSmart’s dividend payout ratio (DPR) is 146.21%.

Hedge Funds Weigh In On CubeSmart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC boosted its holdings in shares of CubeSmart by 594.7% in the 1st quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 779 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in CubeSmart by 143.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 554 shares in the last quarter. SJS Investment Consulting Inc. purchased a new stake in CubeSmart in the first quarter valued at $42,000. Caitong International Asset Management Co. Ltd lifted its position in CubeSmart by 252.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,306 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 935 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in CubeSmart by 38.1% in the second quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 391 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Company Profile

CubeSmart (NYSE:CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and develops self-storage facilities in the United States. Its facilities provide individuals and businesses with storage units in a range of sizes, along with related services such as tenant insurance and online rental and payment options.

In addition to managing its owned properties, CubeSmart provides third-party management services for self-storage facilities owned by other parties.