Barclays Lowers CubeSmart (NYSE:CUBE) Price Target to $50.00

CubeSmart (NYSE:CUBE - Free Report) had its price objective trimmed by Barclays from $54.00 to $50.00 in a report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust's stock.

Several other research firms also recently issued reports on CUBE. Jefferies Financial Group downgraded shares of CubeSmart from a "buy" rating to a "hold" rating and reduced their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Scotiabank dropped their price objective on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating on the stock in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and lowered their price objective for the company from $46.00 to $45.00 in a research note on Friday. Wells Fargo & Company lifted their target price on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Finally, Royal Bank of Canada cut their price objective on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $50.00.

CubeSmart Price Performance

CubeSmart stock traded up $0.22 during trading hours on Monday, reaching $40.45. 2,497,095 shares of the stock were exchanged, compared to its average volume of 1,396,042. The company has a market cap of $9.15 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 13.00 and a beta of 0.87. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The stock has a 50 day moving average of $46.02 and a two-hundred day moving average of $48.29.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. Equities analysts expect that CubeSmart will post 2.63 EPS for the current fiscal year.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.14%. The ex-dividend date is Thursday, January 2nd. This is a boost from CubeSmart's previous quarterly dividend of $0.51. CubeSmart's dividend payout ratio (DPR) is currently 117.51%.

Institutional Investors Weigh In On CubeSmart

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its position in CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 444 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in CubeSmart during the 3rd quarter valued at $33,000. Versant Capital Management Inc raised its position in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 673 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of CubeSmart in the 2nd quarter worth $33,000. Finally, Brooklyn Investment Group bought a new position in shares of CubeSmart in the 3rd quarter worth $59,000. 97.61% of the stock is owned by institutional investors.

CubeSmart Company Profile

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.