In yesterday’s Wall Street session, CubeSmart (NYSE:CUBE) shares traded at $45.25, up 1.07% from the previous session.
14 analysts cover CubeSmart (NYSE:CUBE), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $64.00 and a low of $47.00, we find $50.00. Given the previous closing price of $44.77, this indicates a potential upside of 11.68 percent. CUBE stock price is now 0.63% away from the 50-day moving average and 3.76% away from the 200-day moving average. The market capitalization of the company currently stands at $10.06B.
The stock has received a hold rating from 6 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $50.91 as their price target over the next twelve months.
With the price target of $50, Wells Fargo recently initiated with Overweight rating for CubeSmart (NYSE: CUBE).
In other news, MARR CHRISTOPHER P, CEO sold 22,057 shares of the company’s stock on Jun 07. The stock was sold for $1,001,580 at an average price of $45.41. Upon completion of the transaction, the CEO now directly owns 480,960 shares in the company, valued at $21.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05, CEO MARR CHRISTOPHER P sold 16,948 shares of the business’s stock. A total of $764,397 was realized by selling the stock at an average price of $45.10. This leaves the insider owning 480,960 shares of the company worth $21.76 million. Insiders disposed of 116,224 shares of company stock worth roughly $5.26 million over the past 1 year. A total of 0.69% 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 TWO SIGMA INVESTMENTS, LP during the first quarter worth $30,814,000. WEISS MULTI-STRATEGY ADVISERS LLC invested $26,815,000 in shares of CUBE during the first quarter. In the first quarter, V3 CAPITAL MANAGEMENT, L.P. acquired a new stake in CubeSmart valued at approximately $25,426,000. COPELAND CAPITAL MANAGEMENT, LLC acquired a new stake in CUBE for approximately $25,397,000. APG ASSET MANAGEMENT US INC. purchased a new stake in CUBE valued at around $17,709,000 in the second quarter. In total, there are 544 active investors with 98.00% ownership of the company’s stock.
During the past 12 months, CubeSmart has had a low of $36.82 and a high of $51.02. According to the stock market information, the enterprise value for the company is $13.22B, which is based on a 29.16 price-to-earnings ratio, a 4.86 price-to-earnings-growth ratio, and a beta of 0.60. The fifty day moving average price for CUBE is $44.95 and a two-hundred day moving average price translates $43.63 for the stock.
The latest earnings results from CubeSmart (NYSE: CUBE) was released for Mar, 2023. According to the REIT – Industrial Company, earnings per share came in at $0.43, beating analysts’ expectations of $0.33 by 0.1. This compares to $0.17 EPS in the same period last year. The net profit margin was 34.10% and return on equity was 12.40% for CUBE. The company reported revenue of $256.53 million for the quarter, compared to $238.56 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.53 percent. For the current quarter, analysts expect CUBE to generate $234.48M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 07/03/2023 were paid a $0.49 dividend. On an annualized basis, this represents a $1.96 dividend and a 4.33% percent yield. There was an ex-dividend date of 06/30/2023 for this dividend. In terms of dividend payout ratio, CUBE is presently at 111.90%.
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, 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.
