Analysts Set CubeSmart (NYSE:CUBE) Target Price at $51.36

Shares of CubeSmart (NYSE:CUBE) have earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $51.36.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Evercore ISI increased their target price on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Jefferies Financial Group boosted their price target on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Scotiabank lowered their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Finally, UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $54.00 in a research report on Friday, September 13th.

CubeSmart Trading Down 0.8 %

CubeSmart stock opened at $45.54 on Friday. CubeSmart has a one year low of $39.80 and a one year high of $55.14. The business’s fifty day moving average is $48.47 and its 200 day moving average is $48.51. The stock has a market capitalization of $10.30 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 13.00 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same quarter in the prior year, the company posted $0.68 EPS. CubeSmart’s revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that CubeSmart will post 2.63 EPS for the current year.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a $0.52 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Thursday, January 2nd. CubeSmart’s dividend payout ratio is presently 117.51%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Whittier Trust Co. grew its holdings in CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 323 shares in the last quarter. UMB Bank n.a. boosted its position in shares of CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in CubeSmart during the second quarter valued at $33,000. Peterson Financial Group Inc. bought a new stake in CubeSmart in the 3rd quarter valued at $33,000. Finally, Quarry LP increased its holdings in CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares during the last quarter. 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.