CubeSmart (NYSE:CUBE) Stock Rated “Hold” by Wall Street Analysts

Shares of CubeSmart (NYSE:CUBE) have been assigned an average rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $43.18.

A number of brokerages recently issued reports on CUBE. Truist Financial began coverage on CubeSmart in a report on Friday. They issued a “buy” rating and a $41.00 price target for the company. Mizuho dropped their price objective on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, September 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, July 15th. Barclays raised CubeSmart from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $45.00 to $46.00 in a research report on Friday, July 10th. Finally, Raymond James Financial began coverage on CubeSmart in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 target price on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in CubeSmart in the second quarter valued at about $1,349,164,000. Norges Bank purchased a new position in shares of CubeSmart during the fourth quarter worth approximately $395,968,000. Canada Pension Plan Investment Board purchased a new position in shares of CubeSmart in the second quarter worth about $288,512,000. Bank of New York Mellon Corp bought a new stake in CubeSmart during the 2nd quarter valued at $74,199,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in CubeSmart in the 2nd quarter worth approximately $68,552,000. 97.61% of the stock is owned by institutional investors.

CubeSmart Trading Up 0.1%

Shares of NYSE CUBE opened at $37.57 on Friday. 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 has a market capitalization of $8.46 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 6.35 and a beta of 1.05. The business has a fifty day moving average price of $40.15 and a 200 day moving average price of $39.83. CubeSmart has a 1-year low of $35.09 and a 1-year high of $43.26.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Friday, July 31st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The company had revenue of $286.49 million during the quarter, compared to analyst estimates of $281.12 million. CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. Equities research analysts expect that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, October 1st. CubeSmart’s dividend payout ratio is currently 146.21%.

About CubeSmart

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. Its properties provide individuals and businesses with space to store household goods, personal belongings, business inventory, records, vehicles and other items.

The company offers a range of unit sizes and storage solutions, generally through traditional drive-up and climate-controlled facilities. Many locations also provide features such as electronic access, online rentals and payments, moving and packing supplies, and vehicle storage.