CubeSmart (NYSE:CUBE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of CubeSmart (NYSE:CUBE) have been assigned an average rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $51.45.

A number of equities analysts have issued reports on CUBE shares. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Wells Fargo & Company raised their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada reduced their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Truist Financial increased their target price on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group increased their target price on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th.

CubeSmart Price Performance

CUBE opened at $48.91 on Wednesday. CubeSmart has a one year low of $38.29 and a one year high of $55.14. 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 company’s 50 day simple moving average is $50.21 and its 200-day simple moving average is $47.86. The stock has a market capitalization of $11.06 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 13.73 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same period in the previous year, the business posted $0.68 earnings per share. CubeSmart’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CubeSmart

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in CubeSmart by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock valued at $1,443,316,000 after buying an additional 274,493 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of CubeSmart by 26.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after buying an additional 1,205,097 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of CubeSmart by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after buying an additional 624,661 shares during the period. Geode Capital Management LLC boosted its holdings in shares of CubeSmart by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after buying an additional 50,340 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in CubeSmart by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after purchasing an additional 169,600 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.