CubeSmart (NYSE:CUBE) Given New $42.00 Price Target at Scotiabank

CubeSmart (NYSE:CUBE) had its price target hoisted by Scotiabank from $39.00 to $42.00 in a research report released on Friday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on CUBE. Mizuho dropped their price target on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Wolfe Research lowered CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. UBS Group lowered their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lowered shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Tuesday, January 20th. Finally, Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.86.

CubeSmart Price Performance

Shares of CubeSmart stock opened at $38.63 on Friday. The stock has a market capitalization of $8.77 billion, a P/E ratio of 26.64 and a beta of 1.10. The business has a 50 day simple moving average of $38.76 and a two-hundred day simple moving average of $38.70. CubeSmart has a 12 month low of $34.24 and a 12 month high of $44.13. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.5%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s dividend payout ratio is presently 146.21%.

Insider Activity

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the sale, the insider directly owned 205,057 shares of the company’s stock, valued at $8,411,438.14. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wiser Advisor Group LLC acquired a new stake in CubeSmart during the third quarter worth about $28,000. Private Trust Co. NA boosted 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 purchasing an additional 478 shares during the last quarter. Geneos Wealth Management Inc. boosted 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 purchasing an additional 568 shares during the last quarter. Huntington National Bank grew its stake in shares of 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 buying an additional 295 shares during the period. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of 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.