CubeSmart (NYSE:CUBE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CubeSmart (NYSE:CUBE) from a sell rating to a hold rating in a research note released on Saturday morning.

A number of other research analysts have also issued reports on the company. Evercore ISI reduced their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Truist Financial decreased their target price on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Mizuho dropped their price target on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Finally, KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.25.

CubeSmart Stock Performance

CUBE stock opened at $35.72 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 8.47 and a beta of 1.11. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The stock’s fifty day moving average is $37.87 and its two-hundred day moving average is $39.97.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The business had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a dividend of $0.53 per share. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Friday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Investors Weigh In On CubeSmart

Institutional investors and hedge funds have recently modified their holdings of the stock. Wiser Advisor Group LLC purchased a new position in CubeSmart in the 3rd quarter worth about $28,000. True Wealth Design LLC boosted its position in CubeSmart by 308.2% during the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 524 shares during the period. Private Trust Co. NA grew its stake in CubeSmart by 209.6% during the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 478 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of 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 period. Finally, Huntington National Bank lifted its position in shares of CubeSmart by 43.3% in the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 295 shares in the last quarter. 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.