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

Shares of CubeSmart (NYSE:CUBE) have earned a consensus rating 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 issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $46.33.

CUBE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 price objective on the stock. Wells Fargo & Company upped their price target 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. Barclays assumed coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price objective for the company. Raymond James restated 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 boosted their price target on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, March 4th.

CubeSmart Price Performance

Shares of CUBE opened at $41.64 on Friday. The firm has a market capitalization of $9.37 billion, a PE ratio of 23.13 and a beta of 0.72. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The company’s 50-day moving average is $43.40 and its 200-day moving average is $42.53. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $47.81.

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

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.90%. CubeSmart’s dividend payout ratio (DPR) is currently 113.33%.

Institutional Trading of CubeSmart

Large investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of CubeSmart in the fourth quarter worth about $444,818,000. Deutsche Bank AG increased its position in CubeSmart by 1,915.7% during the 3rd quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock worth $116,609,000 after purchasing an additional 2,906,478 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in CubeSmart by 54.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,898,429 shares of the real estate investment trust’s stock valued at $148,647,000 after purchasing an additional 1,369,438 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in CubeSmart in the 1st quarter valued at approximately $48,716,000. Finally, Centersquare Investment Management LLC boosted its position in CubeSmart by 824.1% in the fourth quarter. Centersquare Investment Management LLC now owns 1,127,979 shares of the real estate investment trust’s stock valued at $52,282,000 after buying an additional 1,005,922 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

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.