CubeSmart (NYSE:CUBE) Upgraded by KeyCorp to Overweight Rating

KeyCorp upgraded shares of CubeSmart (NYSE:CUBE - Free Report) from a sector weight rating to an overweight rating in a report released on Thursday morning, MarketBeat Ratings reports. KeyCorp currently has $47.00 target price on the real estate investment trust's stock. KeyCorp also issued estimates for CubeSmart's Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.56 EPS, Q1 2026 earnings at $0.63 EPS, Q2 2026 earnings at $0.66 EPS, Q3 2026 earnings at $0.67 EPS, Q4 2026 earnings at $0.69 EPS and FY2026 earnings at $2.65 EPS.

Other equities research analysts have also issued research reports about the stock. Barclays lowered their price target on shares of CubeSmart from $54.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Royal Bank of Canada lowered their target price on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group downgraded CubeSmart from a "buy" rating to a "hold" rating and cut their price target for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and dropped their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and cut their price objective for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $48.08.

Remove Ads

CubeSmart Stock Down 0.4 %

Shares of CUBE traded down $0.16 during mid-day trading on Thursday, reaching $42.80. The company's stock had a trading volume of 2,364,805 shares, compared to its average volume of 1,334,801. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The business has a fifty day moving average of $41.78 and a 200 day moving average of $46.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.23. The company had revenue of $231.41 million for 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, analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.86%. CubeSmart's dividend payout ratio (DPR) is presently 120.93%.

Institutional Investors Weigh In On CubeSmart

A number of hedge funds have recently bought and sold shares of CUBE. Howard Capital Management Group LLC acquired a new position in shares of CubeSmart during the 3rd quarter worth about $212,000. Stephens Inc. AR acquired a new position in shares of CubeSmart during the third quarter worth approximately $226,000. Van ECK Associates Corp boosted its position in shares of CubeSmart by 12.3% in the third quarter. Van ECK Associates Corp now owns 94,950 shares of the real estate investment trust's stock valued at $4,681,000 after acquiring an additional 10,363 shares during the period. QRG Capital Management Inc. boosted its position in shares of CubeSmart by 15.3% in the third quarter. QRG Capital Management Inc. now owns 9,456 shares of the real estate investment trust's stock valued at $509,000 after acquiring an additional 1,255 shares during the period. Finally, Carmel Capital Partners LLC grew its stake in shares of CubeSmart by 4.3% in the third quarter. Carmel Capital Partners LLC now owns 9,611 shares of the real estate investment trust's stock worth $517,000 after acquiring an additional 395 shares during the last quarter. 97.61% of the stock is currently 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.