CubeSmart (NYSE:CUBE) Receives Consensus Recommendation of “Hold” from Analysts

CubeSmart (NYSE:CUBE) has been given a consensus recommendation of “Hold” by the fifteen research firms that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $47.07.

Several research firms have commented on CUBE. Mizuho initiated coverage on shares of CubeSmart in a report on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 target price on the stock. Wolfe Research initiated coverage on shares of CubeSmart in a research report on Monday. They set an “outperform” rating and a $48.00 price target on the stock. Truist Financial lifted their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada cut their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Barclays reduced their target price on CubeSmart from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Friday, May 16th.

Institutional Investors Weigh In On CubeSmart

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in CubeSmart by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 31,507,111 shares of the real estate investment trust’s stock worth $1,350,080,000 after purchasing an additional 85,609 shares in the last quarter. Norges Bank bought a new stake in shares of CubeSmart during the fourth quarter worth about $408,064,000. T. Rowe Price Investment Management Inc. increased its stake in shares of CubeSmart by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust’s stock valued at $370,049,000 after buying an additional 1,937,055 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in CubeSmart by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust’s stock valued at $291,922,000 after buying an additional 543,158 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in CubeSmart by 29.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust’s stock worth $237,519,000 after buying an additional 1,261,746 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Price Performance

CubeSmart stock opened at $43.42 on Wednesday. The firm has a market cap of $9.90 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The stock’s fifty day moving average price is $40.71 and its two-hundred day moving average price is $42.88. CubeSmart has a one year low of $34.24 and a one year high of $55.14.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $273.04 million for the quarter, compared to analysts’ expectations of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. As a group, research analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.79%. CubeSmart’s dividend payout ratio (DPR) is presently 123.08%.

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.