CubeSmart (NYSE:CUBE) Rating Increased to Hold at Wall Street Zen

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

A number of other equities research analysts have also recently issued reports on CUBE. UBS Group dropped their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Mizuho lowered their target price on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Tuesday, January 20th. Royal Bank Of Canada restated an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. Finally, Evercore dropped their target price on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.13.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $40.31 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50-day moving average of $37.51 and a 200-day moving average of $38.64. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 12.35 and a beta of 1.12. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.53 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio is 135.90%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Securian Asset Management Inc. boosted its holdings in shares of CubeSmart by 1.5% during the second quarter. Securian Asset Management Inc. now owns 17,360 shares of the real estate investment trust’s stock worth $738,000 after acquiring an additional 264 shares during the period. Cetera Investment Advisers lifted its holdings in CubeSmart by 1.6% during the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 265 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in CubeSmart by 1.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 16,357 shares of the real estate investment trust’s stock worth $665,000 after purchasing an additional 282 shares during the last quarter. Huntington National Bank boosted its stake in CubeSmart by 43.3% in the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 295 shares during the period. Finally, Pacific Sun Financial Corp grew its holdings in CubeSmart by 6.6% in the 3rd quarter. Pacific Sun Financial Corp now owns 5,022 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 310 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

About CubeSmart

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.