CubeSmart (NYSE:CUBE) Receives $43.64 Average Target Price from Analysts

CubeSmart (NYSE:CUBE) has earned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $43.6429.

CUBE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Tuesday, January 20th. Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Royal Bank Of Canada increased their target price on CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. BNP Paribas Exane upgraded CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 target price for the company in a research note on Wednesday, March 18th. Finally, Truist Financial decreased their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $37.18 on Friday. The business has a 50 day moving average price of $38.47 and a 200 day moving average price of $38.24. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 25.64 and a beta of 1.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.24.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.53 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.12 annualized dividend and a yield of 5.7%. CubeSmart’s dividend payout ratio is presently 146.21%.

Insiders Place Their Bets

In related news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the sale, the insider owned 205,057 shares in the company, valued at $8,411,438.14. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CubeSmart

Large investors have recently added to or reduced their stakes in the company. Wiser Advisor Group LLC acquired a new position in CubeSmart in the 3rd quarter valued at approximately $28,000. Private Trust Co. NA raised its holdings in 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 acquiring an additional 478 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in 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 acquiring an additional 568 shares in the last quarter. Huntington National Bank raised its holdings in CubeSmart by 43.3% in the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new position in CubeSmart in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

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.