Analysts Set CubeSmart (NYSE:CUBE) Target Price at $46.33

CubeSmart (NYSE:CUBE) has earned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $46.33.

Several equities analysts have recently issued reports on CUBE shares. Deutsche Bank Aktiengesellschaft initiated coverage on CubeSmart in a research note on Tuesday, January 30th. They set a “sell” rating and a $40.00 price target on the stock. Barclays assumed coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price target for the company. Wells Fargo & Company raised their price objective on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Raymond James reiterated an “outperform” rating and set a $48.00 target price on shares of CubeSmart in a research report on Thursday, March 28th. Finally, Evercore ISI raised their price target on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th.

CubeSmart Trading Up 0.2 %

Shares of NYSE CUBE opened at $41.84 on Friday. CubeSmart has a 1-year low of $33.17 and a 1-year high of $47.81. The company has a 50-day moving average of $43.44 and a two-hundred day moving average of $42.48. The company has a market cap of $9.41 billion, a PE ratio of 23.24 and a beta of 0.72. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The company had revenue of $261.41 million during the quarter, compared to analyst estimates of $253.91 million. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts expect that CubeSmart will post 2.65 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s dividend payout ratio is currently 113.33%.

Hedge Funds Weigh In On CubeSmart

Institutional investors and hedge funds have recently modified their holdings of the business. Albion Financial Group UT boosted its holdings in shares of CubeSmart by 0.3% in the fourth quarter. Albion Financial Group UT now owns 79,508 shares of the real estate investment trust’s stock valued at $3,685,000 after buying an additional 254 shares during the period. Coldstream Capital Management Inc. increased its holdings in CubeSmart by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 34,500 shares of the real estate investment trust’s stock worth $1,599,000 after purchasing an additional 266 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of CubeSmart by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 24,631 shares of the real estate investment trust’s stock valued at $939,000 after purchasing an additional 281 shares during the period. Signaturefd LLC lifted its holdings in shares of CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its position in shares of CubeSmart by 53.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 359 shares during the period. 97.61% of the stock is currently 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.