Mizuho upgraded shares of CubeSmart (NYSE:CUBE - Free Report) to a hold rating in a research note issued to investors on Tuesday, April 8th,Zacks.com reports.
A number of other brokerages also recently commented on CUBE. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Scotiabank cut CubeSmart from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Jefferies Financial Group lowered CubeSmart from a "buy" rating to a "hold" rating and cut their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Barclays lowered their price target on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a "sell" rating to a "hold" rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, CubeSmart has a consensus rating of "Hold" and a consensus price target of $47.31.
View Our Latest Stock Analysis on CubeSmart
CubeSmart Stock Up 1.4 %
Shares of CUBE traded up $0.52 during mid-day trading on Tuesday, hitting $38.83. 499,757 shares of the company's stock were exchanged, compared to its average volume of 1,435,894. The stock's 50-day moving average is $41.17 and its 200-day moving average is $44.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 11.58 and a beta of 0.85.
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 analysts' consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. On average, sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.
CubeSmart Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.36%. CubeSmart's dividend payout ratio is 120.93%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of 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 period. Jones Financial Companies Lllp grew 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 buying an additional 389 shares during the last quarter. Versant Capital Management Inc boosted its stake in CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 673 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in CubeSmart by 310.6% during the 4th 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 during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 351 shares in the last quarter. 97.61% of the stock is owned by institutional investors.
CubeSmart Company Profile
(
Get Free Report)
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.
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