CubeSmart (NYSE:CUBE) Receives New Coverage from Analysts at Barclays

Barclays initiated coverage on shares of CubeSmart (NYSE:CUBE) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $48.00 target price on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the stock. Evercore ISI raised their price target on shares of CubeSmart from $43.00 to $45.00 and gave the company an in-line rating in a research note on Monday, March 4th. Jefferies Financial Group raised shares of CubeSmart from a hold rating to a buy rating and raised their price target for the company from $38.00 to $53.00 in a research note on Tuesday, January 2nd. Truist Financial increased their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the company a hold rating in a report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CubeSmart in a report on Tuesday, January 30th. They issued a sell rating and a $40.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of CubeSmart from $37.00 to $42.00 and gave the company an equal weight rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CubeSmart presently has a consensus rating of Hold and a consensus price target of $45.75.

CubeSmart Trading Up 4.8 %

Shares of CubeSmart stock opened at $45.40 on Wednesday. The firm has a market capitalization of $10.21 billion, a PE ratio of 25.08 and a beta of 0.69. CubeSmart has a twelve month low of $33.17 and a twelve month high of $48.93. The firm’s 50-day moving average price is $43.97 and its 200 day moving average price is $41.60. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.49%. CubeSmart’s dividend payout ratio is currently 112.71%.

Institutional Trading of CubeSmart

A number of hedge funds and other institutional investors have recently made changes to their positions in CUBE. GAMMA Investing LLC acquired a new stake in shares of CubeSmart during the 4th quarter worth approximately $28,000. Signaturefd LLC increased its holdings in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in CubeSmart in the 4th quarter valued at approximately $37,000. Quarry LP acquired a new stake in CubeSmart in the 2nd quarter valued at approximately $37,000. Finally, Sunbelt Securities Inc. acquired a new stake in CubeSmart in the 1st quarter valued at approximately $46,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Company Profile

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, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.