CubeSmart (NYSE:CUBE) Receives $51.36 Consensus Price Target from Analysts

CubeSmart (NYSE:CUBE) has been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $51.36.

Several analysts recently issued reports on the company. Wells Fargo & Company raised their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Evercore ISI increased their price objective on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. 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 note on Friday, September 13th. Jefferies Financial Group raised their price target on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reduced their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th.

CubeSmart Stock Performance

CubeSmart stock opened at $42.66 on Friday. 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 has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a fifty day moving average price of $48.02 and a two-hundred day moving average price of $48.43. The company has a market cap of $9.65 billion, a PE ratio of 24.10, a P/E/G ratio of 13.00 and a beta of 0.84.

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

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Thursday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s payout ratio is currently 117.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new position in shares of CubeSmart in the 3rd quarter worth approximately $442,000. Franklin Resources Inc. boosted its holdings in CubeSmart by 13.1% during the third quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock worth $15,950,000 after buying an additional 36,919 shares in the last quarter. Decatur Capital Management Inc. grew its position in CubeSmart by 169.9% in the third quarter. Decatur Capital Management Inc. now owns 80,194 shares of the real estate investment trust’s stock worth $4,317,000 after buying an additional 50,484 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of CubeSmart by 24.7% in the third quarter. Tidal Investments LLC now owns 141,099 shares of the real estate investment trust’s stock valued at $7,523,000 after buying an additional 27,912 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of CubeSmart during the 3rd quarter valued at $628,000. 97.61% of the stock is owned by institutional investors and hedge funds.

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.