CubeSmart (NYSE:CUBE) Upgraded by Deutsche Bank Aktiengesellschaft to "Hold" Rating

CubeSmart (NYSE:CUBE - Get Free Report) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a "sell" rating to a "hold" rating in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has a $45.00 price objective on the real estate investment trust's stock, down from their previous price objective of $46.00. Deutsche Bank Aktiengesellschaft's price objective indicates a potential upside of 12.02% from the stock's current price.

Other equities analysts have also issued research reports about the company. Scotiabank cut their target price on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating on the stock in a research note on Monday, November 25th. Royal Bank of Canada dropped their price objective on CubeSmart from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Barclays lowered 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. 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 report on Monday, September 16th. Finally, 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 research note on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $50.36.

CubeSmart Stock Down 2.8 %

CUBE stock traded down $1.16 during midday trading on Friday, hitting $40.17. The company's stock had a trading volume of 1,885,617 shares, compared to its average volume of 1,212,536. 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 has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a market cap of $9.08 billion, a PE ratio of 22.70, a P/E/G ratio of 13.00 and a beta of 0.87. The firm's 50-day moving average is $46.16 and its 200-day moving average is $48.28.

CubeSmart (NYSE:CUBE - Get Free Report) last posted 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 return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million during the quarter, compared to analysts' expectations of $267.49 million. During the same period in the previous year, the business posted $0.68 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that CubeSmart will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CubeSmart

Several hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its position in CubeSmart by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,491 shares of the real estate investment trust's stock worth $1,435,000 after acquiring an additional 478 shares during the period. Nordea Investment Management AB boosted its holdings in shares of CubeSmart by 4.7% during the 4th quarter. Nordea Investment Management AB now owns 427,579 shares of the real estate investment trust's stock worth $18,305,000 after buying an additional 19,012 shares during the period. Everence Capital Management Inc. bought a new position in shares of CubeSmart in the fourth quarter worth about $231,000. Versant Capital Management Inc lifted its holdings in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after buying an additional 673 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in CubeSmart in the 3rd quarter worth $442,000. Institutional investors and hedge funds own 97.61% of the company's stock.

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.