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

CubeSmart (NYSE:CUBE) has been assigned an average rating of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $44.40.

A number of research analysts have recently commented on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Wolfe Research lowered shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research note on Tuesday, January 20th. Finally, Barclays cut their target price on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 13th.

CubeSmart Stock Performance

NYSE:CUBE opened at $38.21 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $8.71 billion, a PE ratio of 24.49, a P/E/G ratio of 8.41 and a beta of 1.11. The firm has a 50 day simple moving average of $36.79 and a 200-day simple moving average of $39.01. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13.

CubeSmart (NYSE:CUBE) last released its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. The firm had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. CubeSmart’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. On average, equities analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.53 dividend. 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%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio is presently 135.90%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CUBE. Wiser Advisor Group LLC acquired a new stake in shares of CubeSmart in the third quarter worth $28,000. True Wealth Design LLC raised its position in CubeSmart by 308.2% in the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 524 shares during the period. Private Trust Co. NA lifted its stake in shares of CubeSmart by 209.6% during the third 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 in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 568 shares during the period. Finally, Huntington National Bank boosted its position in shares of CubeSmart by 43.3% in the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 295 shares during the period. Hedge funds and other 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.