CubeSmart (NYSE:CUBE) Price Target Lowered to $50.00 at Barclays

CubeSmart (NYSE:CUBE) had its price objective trimmed by Barclays from $54.00 to $50.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on CUBE. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and reduced their target price for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Scotiabank dropped their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Friday. Wells Fargo & Company upped their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada dropped their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, CubeSmart has a consensus rating of “Hold” and a consensus price target of $50.00.

CubeSmart Trading Up 0.5 %

Shares of CubeSmart stock opened at $40.45 on Monday. 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 $9.15 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 13.00 and a beta of 0.87. The business has a fifty day simple moving average of $45.87 and a 200-day simple moving average of $48.26. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 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 analysts’ expectations of $267.49 million. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts forecast that CubeSmart will post 2.63 EPS for the current fiscal year.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.52 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.14%. CubeSmart’s dividend payout ratio is currently 117.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new stake in CubeSmart during the 2nd quarter valued at approximately $33,000. American Century Companies Inc. boosted its stake in CubeSmart by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 560,903 shares of the real estate investment trust’s stock valued at $25,336,000 after purchasing an additional 77,503 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in CubeSmart by 23.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 154,856 shares of the real estate investment trust’s stock valued at $6,921,000 after purchasing an additional 29,184 shares during the period. WINTON GROUP Ltd bought a new stake in CubeSmart during the 2nd quarter valued at approximately $593,000. Finally, Dimensional Fund Advisors LP boosted its stake in CubeSmart by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after purchasing an additional 169,600 shares during the period. Institutional investors and hedge funds 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.