Brokerages Set CubeSmart (NYSE:CUBE) PT at $47.31

Shares of CubeSmart (NYSE:CUBE - Get Free Report) have earned an average rating of "Hold" from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $47.31.

Several brokerages have recently commented on CUBE. Barclays decreased their target price on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company cut their price objective on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Jefferies Financial Group lowered CubeSmart from a "buy" rating to a "hold" rating and cut their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and cut their target price for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th.

CubeSmart Price Performance

Shares of CUBE traded up $0.15 during trading hours on Friday, hitting $39.86. 187,420 shares of the company were exchanged, compared to its average volume of 1,726,781. The company has a market capitalization of $9.13 billion, a PE ratio of 22.52, a PEG ratio of 11.58 and a beta of 0.85. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a fifty day simple moving average of $40.79 and a 200-day simple moving average of $43.92. CubeSmart has a one year low of $34.24 and a one year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.45 by $0.23. The business had revenue of $231.41 million during the quarter, compared to analysts' expectations of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. As a group, sell-side analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.22%. CubeSmart's payout ratio is 120.93%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp raised its stake in CubeSmart by 134.1% during the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 389 shares in the last quarter. Versant Capital Management Inc raised its stake in CubeSmart by 9,614.3% during the fourth 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. SRS Capital Advisors Inc. raised its stake in CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 559 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of CubeSmart by 59.4% during the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

About CubeSmart

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.