CubeSmart (NYSE:CUBE) Price Target Raised to $44.00

CubeSmart (NYSE:CUBE) had its target price boosted by equities researchers at UBS Group from $38.00 to $44.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s price target would indicate a potential downside of 4.01% from the stock’s current price.

A number of other research analysts also recently commented on CUBE. Mizuho cut their target price on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $47.00 price target on shares of CubeSmart in a report on Tuesday, August 4th. Evercore set a $46.00 price target on shares of CubeSmart in a research report on Monday, September 21st. Truist Financial assumed coverage on shares of CubeSmart in a research note on Friday, October 2nd. They set a “buy” rating and a $41.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus price target of $43.27.

CubeSmart Stock Up 3.6%

Shares of CUBE stock traded up $1.58 during mid-day trading on Wednesday, hitting $45.84. The stock had a trading volume of 2,446,143 shares, compared to its average volume of 2,306,460. CubeSmart has a 12-month low of $35.09 and a 12-month high of $45.91. The firm has a market capitalization of $10.24 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 7.42 and a beta of 0.98. The firm’s 50-day moving average is $39.29 and its two-hundred day moving average is $39.64. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.06 and a quick ratio of 0.07.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $293.97 million for the quarter, compared to the consensus estimate of $287.28 million. CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. CubeSmart’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. On average, analysts predict that CubeSmart will post 2.59 earnings per share for the current fiscal year.

Insider Buying and Selling at CubeSmart

In related news, insider Jeffrey Foster sold 22,776 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $43.72, for a total transaction of $995,766.72. Following the sale, the insider owned 205,057 shares of the company’s stock, valued at $8,965,092.04. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On CubeSmart

Large investors have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in CubeSmart during the 3rd quarter valued at about $22,499,000. Ieq Capital LLC purchased a new stake in CubeSmart in the second quarter valued at about $9,966,000. Readystate Asset Management LP acquired a new stake in CubeSmart in the second quarter worth about $2,989,000. The Manufacturers Life Insurance Company acquired a new stake in CubeSmart in the second quarter worth about $6,588,000. Finally, Corient Private Wealth LP boosted its stake in CubeSmart by 263.0% in the 2nd quarter. Corient Private Wealth LP now owns 161,619 shares of the real estate investment trust’s stock worth $6,428,000 after purchasing an additional 117,093 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.