Mizuho Initiates Coverage on CubeSmart (NYSE:CUBE)

Analysts at Mizuho started coverage on shares of CubeSmart (NYSE:CUBE - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a "neutral" rating and a $39.00 price target on the real estate investment trust's stock. Mizuho's price objective points to a potential upside of 2.28% from the stock's previous close.

Several other research firms also recently weighed in on CUBE. Wells Fargo & Company dropped their target price on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Truist Financial upgraded shares of CubeSmart from a "hold" rating to a "buy" rating and dropped their price target for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Royal Bank of Canada reduced their price objective on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Finally, Scotiabank cut CubeSmart from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CubeSmart presently has a consensus rating of "Hold" and an average target price of $47.31.

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CubeSmart Trading Up 1.1 %

NYSE CUBE traded up $0.43 during trading hours on Wednesday, reaching $38.13. The company had a trading volume of 461,333 shares, compared to its average volume of 1,432,201. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14. The stock has a market capitalization of $8.73 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The stock has a 50-day moving average of $41.25 and a 200 day moving average of $44.52. 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 posted its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million during the quarter, compared to analysts' expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CubeSmart

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 289 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 389 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 673 shares during the period. SRS Capital Advisors Inc. grew its position in shares of CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 559 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 351 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

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.