CubeSmart (NYSE:CUBE) Receives $49.91 Consensus Price Target from Analysts

Shares of CubeSmart (NYSE:CUBE) have earned an average recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $50.36.

A number of analysts have recently weighed in on CUBE shares. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Evercore ISI raised their price target on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the stock from $46.00 to $45.00 in a research note on Friday. Wells Fargo & Company lifted their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada cut their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th.

Institutional Trading of CubeSmart

A number of institutional investors have recently bought and sold shares of CUBE. Allspring Global Investments Holdings LLC grew its position in shares of CubeSmart by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after buying an additional 624,661 shares during the last quarter. Geode Capital Management LLC boosted its stake in CubeSmart by 1.1% in the third quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock valued at $247,295,000 after acquiring an additional 50,340 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CubeSmart by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after purchasing an additional 169,600 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CubeSmart by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock worth $163,260,000 after purchasing an additional 135,211 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after acquiring an additional 303,347 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

Shares of NYSE:CUBE opened at $40.17 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 13.00 and a beta of 0.87. The firm’s 50-day moving average is $46.02 and its 200 day moving average is $48.27.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) 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 company had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts predict that CubeSmart will post 2.63 EPS for the current year.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s payout ratio is 117.51%.

CubeSmart Company Profile

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.