CubeSmart (NYSE:CUBE) PT Raised to $48.00

CubeSmart (NYSE:CUBE) had its price target upped by investment analysts at Wells Fargo & Company from $46.00 to $48.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.11% from the stock’s current price.

CUBE has been the subject of several other reports. Evercore ISI boosted their price objective on shares of CubeSmart from $44.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Raymond James lifted their target price on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $50.00 to $47.00 in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.36.

CubeSmart Stock Down 0.2 %

CUBE opened at $47.01 on Friday. CubeSmart has a 12 month low of $33.17 and a 12 month high of $49.58. The business has a 50-day moving average of $44.54 and a two-hundred day moving average of $43.99. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 8.14 and a beta of 0.80.

CubeSmart (NYSE:CUBE) last released its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The company had revenue of $261.41 million during the quarter, compared to analysts’ expectations of $253.91 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. CubeSmart’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

Institutional Investors Weigh In On CubeSmart

Several institutional investors and hedge funds have recently modified their holdings of CUBE. Rise Advisors LLC purchased a new stake in shares of CubeSmart during the 1st quarter valued at about $26,000. Mather Group LLC. acquired a new stake in CubeSmart in the first quarter valued at approximately $26,000. GAMMA Investing LLC acquired a new stake in CubeSmart in the fourth quarter valued at approximately $28,000. Signaturefd LLC raised its stake in shares of CubeSmart by 72.5% during the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in shares of CubeSmart during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

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.