CubeSmart (NYSE:CUBE) Plans Quarterly Dividend of $0.53

CubeSmart (NYSE:CUBE) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 1st will be paid a dividend of 0.53 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Wednesday, April 1st.

CubeSmart has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 16 consecutive years. CubeSmart has a dividend payout ratio of 135.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect CubeSmart to earn $2.69 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 78.8%.

CubeSmart Stock Performance

Shares of NYSE CUBE traded down $0.39 during midday trading on Wednesday, reaching $39.58. The company had a trading volume of 601,406 shares, compared to its average volume of 2,332,440. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a market cap of $9.03 billion, a P/E ratio of 25.37, a P/E/G ratio of 12.16 and a beta of 1.12. The business’s 50-day simple moving average is $37.66 and its 200 day simple moving average is $38.65.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CUBE shares. Deutsche Bank Aktiengesellschaft downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Tuesday, January 20th. Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. UBS Group reduced their price target on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Barclays cut their target price on shares of CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Finally, Mizuho cut their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $44.13.

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.