CubeSmart (NYSE:CUBE) Receives $48.00 Average Price Target from Analysts

CubeSmart (NYSE:CUBE - Get Free Report) has received an average recommendation of "Hold" from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $48.00.

CUBE has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Barclays cut their target price on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a "sell" rating to a "hold" rating and decreased their price target for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Finally, 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 research note on Thursday, January 2nd.

CubeSmart Stock Performance

Shares of CubeSmart stock traded down $0.62 during trading on Tuesday, reaching $41.11. The company's stock had a trading volume of 1,747,044 shares, compared to its average volume of 1,339,640. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market cap of $9.37 billion, a PE ratio of 23.23, a P/E/G ratio of 11.58 and a beta of 0.88. The business's 50-day moving average price is $41.84 and its 200-day moving average price is $46.04. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14.

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

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Tuesday, April 1st. CubeSmart's dividend payout ratio is currently 120.93%.

Hedge Funds Weigh In On CubeSmart

Several institutional investors have recently bought and sold shares of CUBE. Fairtree Asset Management Pty Ltd bought a new stake in shares of CubeSmart in the fourth quarter valued at $768,000. Total Wealth Planning & Management Inc. bought a new stake in CubeSmart in the 4th quarter valued at about $229,000. Employees Retirement System of Texas increased its stake in shares of CubeSmart by 110.2% in the fourth quarter. Employees Retirement System of Texas now owns 154,500 shares of the real estate investment trust's stock worth $6,620,000 after purchasing an additional 81,000 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in shares of CubeSmart in the fourth quarter valued at approximately $92,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of CubeSmart during the 4th quarter valued at approximately $175,000. Hedge funds and other institutional investors own 97.61% of the company's stock.

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.