CubeSmart (NYSE:CUBE) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of CubeSmart (NYSE:CUBE) from a hold rating to a sell rating in a research report report published on Saturday.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada restated an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Evercore ISI lowered their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $45.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Finally, UBS Group lowered their target price on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.20.

CubeSmart Stock Down 1.8%

CUBE stock opened at $35.40 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The firm’s 50-day simple moving average is $36.79 and its 200 day simple moving average is $39.53. The stock has a market cap of $8.07 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 7.69 and a beta of 1.11.

CubeSmart (NYSE:CUBE) last posted its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The firm had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. During the same period in the previous year, the business posted $0.67 EPS. CubeSmart’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

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

Hedge Funds Weigh In On CubeSmart

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of CubeSmart in the 2nd quarter worth approximately $458,008,000. JPMorgan Chase & Co. boosted its holdings in CubeSmart by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock worth $217,162,000 after buying an additional 91,694 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in CubeSmart by 0.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,092,379 shares of the real estate investment trust’s stock worth $216,986,000 after buying an additional 27,278 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of CubeSmart by 36.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after buying an additional 1,143,464 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in shares of CubeSmart by 37.3% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock worth $136,805,000 after acquiring an additional 914,884 shares in the last quarter. Institutional investors 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.