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

Shares of CubeSmart (NYSE:CUBE) have received a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $42.73.

Several equities analysts recently issued reports on CUBE shares. Royal Bank Of Canada reissued an “outperform” rating and set a $47.00 target price on shares of CubeSmart in a research note on Tuesday, August 4th. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a report on Tuesday, August 4th. Wells Fargo & Company lifted their target price on CubeSmart from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Raymond James Financial began coverage on shares of CubeSmart in a research note on Wednesday, July 15th. They set an “outperform” rating and a $44.00 price target on the stock. Finally, Barclays raised shares of CubeSmart from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $46.00 in a research report on Friday, July 10th.

CubeSmart Stock Up 0.0%

CUBE stock opened at $40.15 on Wednesday. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 6.79 and a beta of 1.05. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34. CubeSmart has a 12 month low of $35.09 and a 12 month high of $43.26. The firm has a 50-day moving average of $39.15 and a two-hundred day moving average of $39.96.

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

CubeSmart Dividend Announcement

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

Institutional Investors Weigh In On CubeSmart

Large investors have recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. acquired a new stake in CubeSmart during the 3rd quarter worth approximately $22,499,000. Ieq Capital LLC purchased a new position in CubeSmart during the 2nd quarter worth $9,966,000. Readystate Asset Management LP purchased a new position in CubeSmart during the 2nd quarter worth $2,989,000. The Manufacturers Life Insurance Company acquired a new stake in shares of CubeSmart in the 2nd quarter worth $6,588,000. Finally, Corient Private Wealth LP lifted its stake in shares of CubeSmart by 263.0% in the 2nd quarter. Corient Private Wealth LP now owns 161,619 shares of the real estate investment trust’s stock worth $6,428,000 after acquiring an additional 117,093 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

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. 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.