CubeSmart (CUBE) To Go Ex-Dividend on April 1st

CubeSmart (NYSE:CUBE) announced a quarterly dividend on Tuesday, February 25th, RTT News reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.52 per share by the real estate investment trust on Tuesday, April 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Tuesday, April 1st.

CubeSmart has raised its dividend payment by an average of 11.8% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. CubeSmart has a dividend payout ratio of 128.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect CubeSmart to earn $2.69 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 77.3%.

CubeSmart Trading Up 1.0 %

Shares of CubeSmart stock opened at $42.03 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The stock’s 50 day simple moving average is $41.88 and its 200-day simple moving average is $45.78. The stock has a market cap of $9.58 billion, a P/E ratio of 23.74, a P/E/G ratio of 11.58 and a beta of 0.88. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. Analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CUBE shares. Barclays lowered their price objective on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and lowered their target price for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their price target for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

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.