CubeSmart (NYSE:CUBE) has been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $28.71.
A number of analysts have recently issued reports on CUBE shares. Raymond James cut shares of CubeSmart from a “strong-buy” rating to an “outperform” rating in a research note on Sunday, April 19th. Stifel Nicolaus dropped their price objective on shares of CubeSmart from $32.00 to $21.00 and set a “hold” rating for the company in a research note on Tuesday, March 24th. Zacks Investment Research cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, May 25th. SunTrust Banks dropped their price objective on shares of CubeSmart from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Friday, April 17th. Finally, Citigroup dropped their price objective on shares of CubeSmart from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th.
Shares of NYSE CUBE traded up $1.17 during mid-day trading on Monday, reaching $27.77. 2,261,543 shares of the company were exchanged, compared to its average volume of 1,399,409. The company’s 50-day simple moving average is $26.34 and its 200-day simple moving average is $28.95. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $5.15 billion, a P/E ratio of 30.86, a P/E/G ratio of 8.14 and a beta of 0.29. CubeSmart has a twelve month low of $19.61 and a twelve month high of $36.32.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Tuesday, June 30th. CubeSmart’s payout ratio is presently 78.11%.
Several large investors have recently modified their holdings of CUBE. Capital Square LLC acquired a new position in shares of CubeSmart in the 1st quarter valued at approximately $27,000. Tower Research Capital LLC TRC raised its position in shares of CubeSmart by 3,943.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,213 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,183 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of CubeSmart in the 4th quarter valued at approximately $36,000. Signaturefd LLC raised its position in shares of CubeSmart by 167.0% in the 4th quarter. Signaturefd LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 773 shares in the last quarter. Finally, CWM Advisors LLC bought a new stake in shares of CubeSmart during the 1st quarter valued at approximately $46,000. Institutional investors own 96.64% of the company’s stock.
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 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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