CubeSmart (NYSE:CUBE) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of CubeSmart (NYSE:CUBE) from a hold rating to a sell rating in a report released on Saturday morning.

Several other research analysts have also commented on the company. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. UBS Group lowered their price objective on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Evercore ISI decreased their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.20.

CubeSmart Trading Up 0.2%

Shares of CubeSmart stock opened at $35.47 on Friday. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $36.67 and a 200-day moving average price of $39.46. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 7.71 and a beta of 1.11.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The business had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. During the same quarter last year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 6.0%. This is a positive change from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, January 2nd. CubeSmart’s dividend payout ratio is 135.90%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Securian Asset Management Inc. grew its stake in CubeSmart by 1.5% in the 2nd quarter. Securian Asset Management Inc. now owns 17,360 shares of the real estate investment trust’s stock worth $738,000 after acquiring an additional 264 shares in the last quarter. Cetera Investment Advisers raised its position in CubeSmart by 1.6% during the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock valued at $731,000 after purchasing an additional 265 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in shares of CubeSmart by 0.9% in the 2nd quarter. Moran Wealth Management LLC now owns 31,522 shares of the real estate investment trust’s stock worth $1,340,000 after buying an additional 270 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of CubeSmart by 1.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 16,357 shares of the real estate investment trust’s stock worth $665,000 after buying an additional 282 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

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.