CubeSmart (NYSE:CUBE) has been given an average rating of “Hold” by the eleven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $36.63.
A number of brokerages have recently issued reports on CUBE. Truist Securities raised their price objective on CubeSmart from $37.00 to $39.00 in a research report on Tuesday, March 16th. Raymond James cut CubeSmart from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 4th. Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a research note on Monday, February 8th. Truist raised their target price on CubeSmart from $37.00 to $39.00 in a research note on Tuesday, March 16th. Finally, BMO Capital Markets raised CubeSmart from an “underperform” rating to a “market perform” rating and set a $36.00 target price for the company in a research note on Thursday, January 7th.
Shares of CUBE traded up $0.16 during mid-day trading on Monday, reaching $39.57. 819,613 shares of the company were exchanged, compared to its average volume of 1,156,246. CubeSmart has a 52 week low of $23.24 and a 52 week high of $39.91. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market capitalization of $7.93 billion, a PE ratio of 46.01, a PEG ratio of 8.51 and a beta of 0.27. The business has a 50 day simple moving average of $37.53 and a two-hundred day simple moving average of $34.72.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 1st will be paid a $0.34 dividend. The ex-dividend date is Wednesday, March 31st. This represents a $1.36 dividend on an annualized basis and a yield of 3.44%. CubeSmart’s dividend payout ratio (DPR) is presently 80.47%.
In other CubeSmart news, CEO Christopher P. Marr sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the sale, the chief executive officer now owns 475,314 shares of the company’s stock, valued at $17,824,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.11% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. LPL Financial LLC boosted its position in shares of CubeSmart by 1.5% during the third quarter. LPL Financial LLC now owns 23,375 shares of the real estate investment trust’s stock valued at $755,000 after buying an additional 348 shares during the last quarter. Aurora Investment Counsel boosted its position in shares of CubeSmart by 2.2% during the third quarter. Aurora Investment Counsel now owns 20,078 shares of the real estate investment trust’s stock valued at $679,000 after buying an additional 434 shares during the last quarter. Truist Financial Corp boosted its position in shares of CubeSmart by 0.8% during the third quarter. Truist Financial Corp now owns 71,997 shares of the real estate investment trust’s stock valued at $2,325,000 after buying an additional 601 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of CubeSmart by 5.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,119 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 641 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of CubeSmart by 11.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,996 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 826 shares during the last quarter. 99.65% of the stock is currently owned by institutional investors.
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 secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
See Also: What are retained earnings?
Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.