CubeSmart (NYSE:CUBE) Upgraded to “Hold” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a hold rating in a research note published on Friday, MarketBeat.com reports. They currently have $45.00 target price on the real estate investment trust’s stock, down from their previous target price of $46.00.

CUBE has been the topic of several other research reports. Barclays dropped their target price on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company boosted their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Scotiabank cut their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Finally, Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.36.

CubeSmart Price Performance

NYSE CUBE opened at $40.17 on Friday. The firm’s fifty day simple moving average is $46.16 and its two-hundred day simple moving average is $48.28. The firm has a market capitalization of $9.08 billion, a P/E ratio of 22.70, a P/E/G ratio of 13.00 and a beta of 0.87. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts forecast that CubeSmart will post 2.63 EPS for the current fiscal year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.18%. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s payout ratio is 117.51%.

Institutional Trading of CubeSmart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUBE. Versant Capital Management Inc boosted its stake in shares of CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 673 shares in the last quarter. UMB Bank n.a. increased its position in shares of CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of CubeSmart during the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of CubeSmart during the 3rd quarter worth approximately $33,000. Finally, Quarry LP grew its stake in CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Company Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.