Barclays Issues Positive Forecast for CubeSmart (NYSE:CUBE) Stock Price

CubeSmart (NYSE:CUBE) had its target price raised by Barclays from $43.00 to $45.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other research firms also recently weighed in on CUBE. Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Wells Fargo & Company cut their price objective on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Royal Bank Of Canada raised their target price on shares of CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday. Truist Financial cut their price target on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Finally, Mizuho dropped their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Five investment 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.com, the company currently has a consensus rating of “Hold” and an average price target of $44.07.

CubeSmart Stock Down 1.4%

Shares of NYSE:CUBE opened at $40.54 on Thursday. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 12.80 and a beta of 1.10. CubeSmart has a 12 month low of $34.24 and a 12 month high of $44.13. The company has a current ratio of 0.04, a quick ratio of 0.47 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $38.36 and a 200 day moving average price of $38.73.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s payout ratio is 146.21%.

Insider Buying and Selling

In other news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the transaction, the insider directly owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.69% of the stock is owned by corporate insiders.

Institutional Trading of CubeSmart

A number of large investors have recently modified their holdings of CUBE. Wiser Advisor Group LLC bought a new stake in CubeSmart during the 3rd quarter valued at $28,000. True Wealth Design LLC increased its stake in shares of CubeSmart by 308.2% during the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 524 shares during the period. Private Trust Co. NA raised its holdings in shares of CubeSmart by 209.6% in the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 478 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 568 shares during the period. Finally, Huntington National Bank grew its holdings in CubeSmart by 43.3% during the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

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.