CubeSmart (NYSE:CUBE) Plans Quarterly Dividend of $0.53

CubeSmart (NYSE:CUBE) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 1st will be paid a dividend of 0.53 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Wednesday, April 1st.

CubeSmart has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 16 years. CubeSmart has a payout ratio of 135.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CubeSmart to earn $2.69 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 78.8%.

CubeSmart Stock Down 1.0%

Shares of NYSE CUBE traded down $0.39 during trading hours on Wednesday, hitting $39.58. The stock had a trading volume of 601,406 shares, compared to its average volume of 2,332,440. The firm’s 50-day moving average price is $37.66 and its two-hundred day moving average price is $38.65. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13. The company has a market capitalization of $9.03 billion, a P/E ratio of 25.37, a P/E/G ratio of 12.16 and a beta of 1.12. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47.

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.