CubeSmart (NYSE:CUBE) Receives $44.07 Average Target Price from Analysts

Shares of CubeSmart (NYSE:CUBE) have been given a consensus rating of “Hold” by the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $44.0714.

Several analysts have commented on CUBE shares. Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Tuesday, January 20th. Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Wolfe Research cut shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Mizuho cut their price target on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Finally, Barclays upped their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th.

CubeSmart Price Performance

Shares of CubeSmart stock opened at $38.16 on Tuesday. The firm has a market cap of $8.66 billion, a PE ratio of 26.31 and a beta of 1.10. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $38.69 and a 200 day moving average price of $38.71.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.6%. CubeSmart’s payout ratio is currently 146.21%.

Insider Buying and Selling at CubeSmart

In related news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the transaction, the insider directly owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CubeSmart

Institutional investors have recently bought and sold shares of the company. Diamond Hill Capital Management Inc. boosted its position in shares of CubeSmart by 4.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust’s stock valued at $73,748,000 after acquiring an additional 75,855 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in CubeSmart during the second quarter worth about $1,583,000. Wealth Enhancement Advisory Services LLC increased its position in CubeSmart by 817.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 98,298 shares of the real estate investment trust’s stock worth $3,936,000 after purchasing an additional 87,589 shares during the last quarter. Retirement Systems of Alabama raised its stake in CubeSmart by 5.4% during the third quarter. Retirement Systems of Alabama now owns 639,109 shares of the real estate investment trust’s stock worth $25,986,000 after purchasing an additional 32,697 shares during the period. Finally, Davidson Investment Advisors raised its stake in CubeSmart by 29.3% during the third quarter. Davidson Investment Advisors now owns 460,024 shares of the real estate investment trust’s stock worth $18,705,000 after purchasing an additional 104,283 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

About CubeSmart

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.