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

Shares of CubeSmart (NYSE:CUBE) have earned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $44.7333.

Several analysts recently commented on CUBE shares. UBS Group dropped their price target on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Evercore ISI lowered their target price on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Barclays dropped their target price on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 13th. Wall Street Zen cut CubeSmart from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $45.00 price target on CubeSmart and gave the stock a “buy” rating in a research report on Monday, October 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in CubeSmart during the 2nd quarter valued at about $458,008,000. Alyeska Investment Group L.P. lifted its stake in CubeSmart by 36.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock worth $174,185,000 after purchasing an additional 1,143,464 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of CubeSmart by 37.3% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock worth $136,805,000 after purchasing an additional 914,884 shares during the last quarter. SG Americas Securities LLC grew its position in shares of CubeSmart by 3,255.9% in the fourth quarter. SG Americas Securities LLC now owns 739,382 shares of the real estate investment trust’s stock valued at $26,655,000 after purchasing an additional 717,350 shares in the last quarter. Finally, Aew Capital Management L P grew its position in shares of CubeSmart by 164,585.0% in the second quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock valued at $27,996,000 after purchasing an additional 658,340 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Up 1.3%

Shares of CUBE stock opened at $39.64 on Monday. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The stock has a market cap of $9.04 billion, a P/E ratio of 25.41, a P/E/G ratio of 8.63 and a beta of 1.11. The stock has a 50 day moving average of $36.59 and a 200 day moving average of $39.16. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The business had revenue of $285.08 million for the quarter, compared to analysts’ expectations of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. As a group, sell-side analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.53 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. CubeSmart’s payout ratio is 135.90%.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.