CubeSmart (NYSE:CUBE) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a hold rating in a report released on Saturday morning.

Other analysts have also issued research reports about the stock. Citigroup lowered their price target on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, August 25th. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. Royal Bank Of Canada restated an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Truist Financial decreased their price target on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Mizuho dropped their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.25.

CubeSmart Price Performance

Shares of CUBE stock opened at $35.60 on Friday. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13. The stock has a market capitalization of $8.12 billion, a PE ratio of 22.82, a PEG ratio of 8.47 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s fifty day moving average is $37.96 and its 200-day moving average is $40.04.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.65. The business had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. Equities research analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio is presently 133.33%.

Institutional Trading of CubeSmart

Hedge funds have recently modified their holdings of the company. Wiser Advisor Group LLC bought a new stake in CubeSmart in the third quarter valued at approximately $28,000. True Wealth Design LLC grew its holdings in shares of CubeSmart by 308.2% in the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 524 shares during the period. Private Trust Co. NA grew its holdings in shares of CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 478 shares during the period. Geneos Wealth Management Inc. increased its position in shares of CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 568 shares in the last quarter. Finally, Huntington National Bank raised its stake in CubeSmart by 43.3% during the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 295 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.