CubeSmart (NYSE:CUBE) Stock Has Average Price Target of $42.73 According to Analysts

CubeSmart (NYSE:CUBE) has received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $42.73.

CUBE has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of CubeSmart in a research report on Tuesday, October 13th. Mizuho reduced their price objective on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 2nd. Evercore set a $46.00 price target on CubeSmart in a report on Monday, September 21st. Wells Fargo & Company upped their price target on shares of CubeSmart from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Finally, Raymond James Financial initiated coverage on shares of CubeSmart in a report on Wednesday, July 15th. They set an “outperform” rating and a $44.00 price objective for the company.

CubeSmart Stock Performance

Shares of CUBE opened at $40.15 on Wednesday. The firm has a market cap of $9.04 billion, a PE ratio of 27.69, a PEG ratio of 6.79 and a beta of 1.05. CubeSmart has a 1 year low of $35.09 and a 1 year high of $43.26. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07. The stock’s fifty day moving average price is $39.15 and its two-hundred day moving average price is $39.98.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Friday, July 31st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). The business had revenue of $286.49 million during the quarter, compared to the consensus estimate of $281.12 million. CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. On average, equities research analysts forecast that CubeSmart will post 2.57 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Thursday, October 1st. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Total Wealth Planning & Management Inc. increased its stake in CubeSmart by 2.6% during the third quarter. Total Wealth Planning & Management Inc. now owns 18,384 shares of the real estate investment trust’s stock worth $691,000 after acquiring an additional 466 shares during the last quarter. Signaturefd LLC boosted its holdings in CubeSmart by 37.0% during the 3rd quarter. Signaturefd LLC now owns 4,326 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 1,168 shares during the period. MBL Wealth LLC bought a new position in CubeSmart in the third quarter worth approximately $316,000. Root Financial Partners LLC purchased a new position in shares of CubeSmart during the third quarter valued at $65,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of CubeSmart by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 18,317 shares of the real estate investment trust’s stock worth $688,000 after purchasing an additional 307 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.