CubeSmart (NYSE:CUBE) Given Consensus Recommendation of "Hold" by Brokerages

Shares of CubeSmart (NYSE:CUBE - Get Free Report) have received an average rating of "Hold" from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $46.00.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of CubeSmart from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Friday, April 5th. Evercore ISI boosted their price objective on shares of CubeSmart from $44.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday. Raymond James reaffirmed an "outperform" rating and set a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th. BMO Capital Markets downgraded shares of CubeSmart from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $50.00 to $47.00 in a research report on Wednesday, May 29th. Finally, Barclays assumed coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They set an "equal weight" rating and a $48.00 price objective for the company.

Hedge Funds Weigh In On CubeSmart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUBE. Wellington Management Group LLP boosted its stake in CubeSmart by 14.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,153,064 shares of the real estate investment trust's stock worth $43,966,000 after purchasing an additional 143,244 shares during the period. Nordea Investment Management AB lifted its position in CubeSmart by 30.6% in the 4th quarter. Nordea Investment Management AB now owns 484,855 shares of the real estate investment trust's stock worth $22,633,000 after buying an additional 113,571 shares in the last quarter. Naples Global Advisors LLC lifted its position in CubeSmart by 25.1% in the 4th quarter. Naples Global Advisors LLC now owns 24,275 shares of the real estate investment trust's stock worth $1,137,000 after buying an additional 4,865 shares in the last quarter. Whitaker Myers Wealth Managers LTD. purchased a new stake in CubeSmart in the 4th quarter worth approximately $205,000. Finally, Cooper Financial Group lifted its position in CubeSmart by 12.1% in the 4th quarter. Cooper Financial Group now owns 10,339 shares of the real estate investment trust's stock worth $479,000 after buying an additional 1,118 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Down 0.7 %

Shares of NYSE:CUBE traded down $0.32 during midday trading on Thursday, hitting $48.42. 845,212 shares of the company's stock traded hands, compared to its average volume of 1,378,911. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market cap of $10.89 billion, a PE ratio of 26.90, a P/E/G ratio of 8.39 and a beta of 0.80. The firm's fifty day moving average price is $44.06 and its two-hundred day moving average price is $43.95. CubeSmart has a twelve month low of $33.17 and a twelve month high of $49.58.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.22). CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The firm had revenue of $261.41 million during the quarter, compared to analyst estimates of $253.91 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Monday, July 1st. CubeSmart's payout ratio is 113.33%.

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.