CubeSmart (NYSE:CUBE) Receives Average Recommendation of "Hold" from Brokerages

CubeSmart (NYSE:CUBE - Get Free Report) has received a consensus recommendation of "Hold" from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $51.45.

A number of analysts have recently issued reports on CUBE shares. Raymond James boosted their target price on shares of CubeSmart from $48.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Barclays dropped their target price on shares of CubeSmart from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company lifted their price target 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. Jefferies Financial Group increased their price objective on CubeSmart from $53.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, Truist Financial lifted their target price on CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, August 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CUBE. Chiron Investment Management LLC acquired a new stake in shares of CubeSmart during the third quarter worth $618,000. Coldstream Capital Management Inc. lifted its position in CubeSmart by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 45,209 shares of the real estate investment trust's stock worth $2,433,000 after acquiring an additional 1,857 shares during the period. Geode Capital Management LLC grew its stake in 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 valued at $247,295,000 after purchasing an additional 50,340 shares during the last quarter. Vestcor Inc increased its holdings in shares of CubeSmart by 129.3% in the third quarter. Vestcor Inc now owns 43,622 shares of the real estate investment trust's stock valued at $2,348,000 after purchasing an additional 24,595 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of CubeSmart by 2.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,201,129 shares of the real estate investment trust's stock worth $118,487,000 after purchasing an additional 42,994 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Down 1.1 %

Shares of CubeSmart stock traded down $0.52 during trading on Wednesday, hitting $48.46. The stock had a trading volume of 214,237 shares, compared to its average volume of 1,350,653. The stock has a market cap of $10.96 billion, a PE ratio of 27.68, a PEG ratio of 13.65 and a beta of 0.84. CubeSmart has a 12 month low of $38.29 and a 12 month high of $55.14. The firm's fifty day simple moving average is $50.52 and its 200-day simple moving average is $47.72. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $267.49 million. During the same quarter last year, the firm earned $0.68 EPS. The firm's quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect 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.