Analysts Set CubeSmart (NYSE:CUBE) Target Price at $48.00

CubeSmart (NYSE:CUBE) has earned a consensus rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $48.00.

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Barclays dropped their target price on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Finally, Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and cut their target price for the stock from $50.00 to $47.00 in a report on Friday, January 17th.

CubeSmart Price Performance

Shares of CUBE stock opened at $41.64 on Tuesday. The firm has a fifty day moving average of $41.87 and a two-hundred day moving average of $45.90. The firm has a market cap of $9.49 billion, a P/E ratio of 23.52, a P/E/G ratio of 11.58 and a beta of 0.88. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. 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 issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.45 by $0.23. The business had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s payout ratio is currently 120.93%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fairtree Asset Management Pty Ltd acquired a new stake in CubeSmart in the fourth quarter worth about $768,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of CubeSmart in the 4th quarter worth approximately $229,000. Employees Retirement System of Texas boosted its holdings in shares of CubeSmart by 110.2% in the fourth quarter. Employees Retirement System of Texas now owns 154,500 shares of the real estate investment trust’s stock valued at $6,620,000 after acquiring an additional 81,000 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of CubeSmart during the fourth quarter valued at approximately $92,000. Finally, GF Fund Management CO. LTD. bought a new stake in CubeSmart during the fourth quarter worth approximately $175,000. 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.