CubeSmart (NYSE:CUBE) Sets New 52-Week Low - Should You Sell?

CubeSmart (NYSE:CUBE - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as $34.24 and last traded at $38.11, with a volume of 2383664 shares changing hands. The stock had previously closed at $35.88.

Analysts Set New Price Targets

CUBE has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and decreased their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Wells Fargo & Company cut their price objective on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and lowered their target price for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CubeSmart has an average rating of "Hold" and a consensus price target of $47.31.

CubeSmart Price Performance

The business has a 50-day moving average price of $41.17 and a 200 day moving average price of $44.42. The stock has a market cap of $8.88 billion, a PE ratio of 21.90, a PEG ratio of 11.58 and a beta of 0.85. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

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CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. As a group, research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.36%. CubeSmart's dividend payout ratio (DPR) is currently 120.93%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of CubeSmart by 74.9% during the 4th 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 during the last quarter. Thrivent Financial for Lutherans lifted its stake in CubeSmart by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust's stock worth $2,280,000 after purchasing an additional 306 shares during the last quarter. Magnetar Financial LLC boosted its holdings in shares of CubeSmart by 2.3% in the 4th quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock worth $606,000 after purchasing an additional 320 shares in the last quarter. Mariner LLC increased its position in shares of CubeSmart by 2.5% during the 4th quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock valued at $585,000 after purchasing an additional 328 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of CubeSmart by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,984 shares of the real estate investment trust's stock valued at $299,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 97.61% of the company's stock.

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.