CubeSmart (NYSE:CUBE) Given Average Recommendation of “Hold” by Brokerages

Shares of CubeSmart (NYSE:CUBE) have received an average recommendation of “Hold” from the sixteen research firms that are covering the firm, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $44.1333.

CUBE has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Evercore lowered their price objective on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Barclays dropped their target price on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Wolfe Research lowered CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Finally, Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd.

CubeSmart Stock Performance

CUBE opened at $38.71 on Friday. The firm has a market capitalization of $8.83 billion, a PE ratio of 24.81, a PEG ratio of 11.85 and a beta of 1.12. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The firm’s 50-day moving average price is $37.43 and its 200 day moving average price is $38.65. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.53 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.12 annualized dividend and a dividend yield of 5.5%. CubeSmart’s dividend payout ratio is currently 135.90%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wiser Advisor Group LLC acquired a new stake in CubeSmart during the third quarter worth $28,000. True Wealth Design LLC increased its position in shares of CubeSmart by 308.2% during the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 524 shares during the last quarter. Private Trust Co. NA increased its position in shares of CubeSmart by 209.6% during the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 478 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in CubeSmart by 174.8% in the second 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 during the last quarter. Finally, Huntington National Bank lifted its position in CubeSmart by 43.3% in the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 295 shares during the last quarter. 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.