CubeSmart (NYSE:CUBE) Receives $51.45 Consensus Price Target from Analysts

CubeSmart (NYSE:CUBE) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $51.36.

Several research firms recently weighed in on CUBE. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Truist Financial lifted their target price on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Royal Bank of Canada reduced their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Evercore ISI boosted their target price on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Scotiabank reduced their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday.

Institutional Investors Weigh In On CubeSmart

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in CubeSmart by 1,575.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,820,434 shares of the real estate investment trust’s stock worth $82,277,000 after purchasing an additional 1,711,762 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CubeSmart by 326.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after acquiring an additional 1,282,995 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in CubeSmart by 26.9% in 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 purchasing an additional 1,205,097 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position 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 valued at $273,986,000 after purchasing an additional 624,661 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after purchasing an additional 303,347 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Up 0.1 %

CubeSmart stock opened at $49.93 on Wednesday. The company has a market capitalization of $11.29 billion, a PE ratio of 28.21, a PEG ratio of 14.00 and a beta of 0.84. The firm’s fifty day moving average is $50.12 and its 200 day moving average is $47.92. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12-month low of $38.31 and a 12-month high of $55.14.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 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 firm had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. During the same period last year, the business posted $0.68 EPS. The company’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

About CubeSmart

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.