Posted by Defense World Staff on Mar 28th, 2024
Barclays assumed coverage on shares of CubeSmart (NYSE:CUBE – Free Report) in a report released on Wednesday, MarketBeat reports. The firm issued an equal weight rating and a $48.00 price target on the real estate investment trust’s stock.
A number of other analysts have also issued reports on CUBE. Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a research report on Tuesday, January 30th. They set a sell rating and a $40.00 target price on the stock. Wells Fargo & Company boosted their price objective on CubeSmart from $37.00 to $42.00 and gave the company an equal weight rating in a report on Tuesday, December 12th. Jefferies Financial Group raised CubeSmart from a hold rating to a buy rating and boosted their price objective for the company from $38.00 to $53.00 in a report on Tuesday, January 2nd. BMO Capital Markets raised CubeSmart from a market perform rating to an outperform rating and boosted their price objective for the company from $46.00 to $49.00 in a report on Friday, December 15th. Finally, Truist Financial boosted their price objective on CubeSmart from $43.00 to $46.00 and gave the company a hold rating in a report on Thursday, December 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CubeSmart has a consensus rating of Hold and a consensus price target of $45.75.
Check Out Our Latest Research Report on CUBE
CubeSmart Stock Up 4.8 %
Shares of NYSE CUBE opened at $45.40 on Wednesday. CubeSmart has a 1 year low of $33.17 and a 1 year high of $48.93. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 25.08 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The stock’s 50-day simple moving average is $43.97 and its 200-day simple moving average is $41.60.
CubeSmart Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.49%. CubeSmart’s dividend payout ratio is presently 112.71%.
Hedge Funds Weigh In On CubeSmart
Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in shares of CubeSmart during the fourth quarter worth approximately $28,000. Signaturefd LLC lifted its position in CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 292 shares during the period. Ceredex Value Advisors LLC acquired a new stake in CubeSmart in the fourth quarter worth approximately $37,000. Quarry LP acquired a new stake in CubeSmart in the second quarter worth approximately $37,000. Finally, Sunbelt Securities Inc. acquired a new stake in CubeSmart in the first quarter worth approximately $46,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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