The price of CubeSmart (NYSE:CUBE) shares last traded on Wall Street rose 0.65% to $42.09.
CUBE stock price is now 5.55% away from the 50-day moving average and -6.19% away from the 200-day moving average. The market capitalization of the company currently stands at $9.36B.
With the price target of $45, UBS recently initiated with Buy rating for CubeSmart (NYSE: CUBE)., while ‘Raymond James’ rates the stock as ‘Strong Buy’.
Insiders disposed of 213,897 shares of company stock worth roughly $9.0 million over the past 1 year. A total of 0.63% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CUBE stock. A new stake in CubeSmart shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $205,536,000. BROOKFIELD ASSET MANAGEMENT INC. invested $25,600,000 in shares of CUBE during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in CubeSmart valued at approximately $11,990,000. CARLYLE GROUP INC. acquired a new stake in CUBE for approximately $9,281,000. POINT72 ASSET MANAGEMENT, L.P. purchased a new stake in CUBE valued at around $6,439,000 in the second quarter. In total, there are 506 active investors with 98.30% ownership of the company’s stock.
A candlestick chart of CubeSmart (NYSE: CUBE) showed a price of $41.63 on Wednesday morning. During the past 12 months, CubeSmart has had a low of $36.82 and a high of $57.34. The fifty day moving average price for CUBE is $39.93 and a two-hundred day moving average price translates $44.84 for the stock.
The latest earnings results from CubeSmart (NYSE: CUBE) was released for Sep, 2022. According to the REIT – Industrial Company, earnings per share came in at $0.5, beating analysts’ expectations of $0.28 by 0.22. This compares to $0.43 EPS in the same period last year. The net profit margin was 26.20% and return on equity was 8.90% for CUBE. The company reported revenue of $261.41 million for the quarter, compared to $212.56 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 22.98 percent. For the current quarter, analysts expect CUBE to generate $257.45M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/17/2022. Investors who held shares on 10/03/2022 were paid a $0.43 dividend. On an annualized basis, this represents a $1.72 dividend and a 4.09% percent yield. There was an ex-dividend date of 09/30/2022 for this dividend. In terms of dividend payout ratio, CUBE is presently at 150.30%.
CubeSmart(CUBE) 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 secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.