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

Shares of CubeSmart (NYSE:CUBE - Get Free Report) have received a consensus recommendation of "Hold" from the eleven analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $51.36.

CUBE has been the subject of several analyst reports. Barclays dropped their price objective on CubeSmart from $55.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Evercore ISI lifted their price objective on CubeSmart from $52.00 to $53.00 and gave the company an "in-line" rating in a report on Monday, September 16th. UBS Group cut 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. Finally, Royal Bank of Canada lowered their price target on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, November 4th.

Institutional Investors Weigh In On CubeSmart

A number of institutional investors have recently made changes to their positions in CUBE. Envestnet Portfolio Solutions Inc. grew its position in shares of CubeSmart by 12.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,520 shares of the real estate investment trust's stock valued at $837,000 after buying an additional 2,054 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of CubeSmart by 4.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 632,893 shares of the real estate investment trust's stock valued at $28,588,000 after buying an additional 27,376 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of CubeSmart by 136.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,129 shares of the real estate investment trust's stock valued at $638,000 after buying an additional 8,149 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of CubeSmart by 10.3% during the 2nd quarter. Pallas Capital Advisors LLC now owns 39,253 shares of the real estate investment trust's stock valued at $1,901,000 after purchasing an additional 3,653 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of CubeSmart by 14.7% during the 2nd quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust's stock valued at $110,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

CubeSmart Stock Performance

Shares of CUBE traded down $0.17 during mid-day trading on Friday, reaching $46.27. The company's stock had a trading volume of 1,024,402 shares, compared to its average volume of 1,154,002. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The stock has a market cap of $10.46 billion, a P/E ratio of 26.14, a PEG ratio of 13.00 and a beta of 0.84. The business has a 50-day simple moving average of $48.67 and a two-hundred day simple moving average of $48.40. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE - Get Free Report) last released 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). The business had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities research analysts anticipate that CubeSmart will post 2.63 earnings per share 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.