CubeSmart (NYSE:CUBE) Receives Average Rating of “Hold” from Brokerages

Shares of CubeSmart (NYSE:CUBE) have received an average recommendation of “Hold” from the sixteen brokerages that are presently covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $44.1333.

Several equities analysts recently weighed in on the stock. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. 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. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a report on Monday, December 8th. Wells Fargo & Company cut their target price on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Finally, Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd.

Institutional Investors Weigh In On CubeSmart

A number of institutional investors have recently modified their holdings of CUBE. Wiser Advisor Group LLC bought a new position in shares of CubeSmart during the third quarter valued at approximately $28,000. True Wealth Design LLC lifted its position in CubeSmart by 308.2% in the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 524 shares during the last quarter. Private Trust Co. NA grew its holdings in CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 478 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of CubeSmart by 174.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 568 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 295 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

CUBE stock opened at $38.58 on Friday. The company has a market cap of $8.80 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 11.83 and a beta of 1.12. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $37.17 and a two-hundred day moving average price of $38.70. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.12 annualized dividend and a dividend yield of 5.5%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio is currently 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.