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

Shares of CubeSmart (NYSE:CUBE - Get Free Report) have received an average rating of "Hold" from the twelve analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $50.67.

A number of research firms have recently issued reports on CUBE. Evercore ISI increased their price target on shares of CubeSmart from $52.00 to $53.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Royal Bank of Canada started coverage on shares of CubeSmart in a research note on Tuesday, September 10th. They set an "outperform" rating and a $56.00 target price for the company. Truist Financial upped their price target on shares of CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, August 16th. 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 report on Monday, October 21st. Finally, Raymond James upped their target price on CubeSmart from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd.

CubeSmart Trading Down 1.7 %

Shares of CubeSmart stock traded down $0.83 during trading on Friday, hitting $48.25. The stock had a trading volume of 920,419 shares, compared to its average volume of 1,347,230. CubeSmart has a 1 year low of $33.17 and a 1 year high of $55.14. The stock has a 50 day simple moving average of $51.58 and a 200 day simple moving average of $46.96. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $10.85 billion, a PE ratio of 26.81, a P/E/G ratio of 8.86 and a beta of 0.82.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.23). The firm had revenue of $266.20 million for the quarter, compared to analysts' expectations of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, research analysts expect that CubeSmart will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling at CubeSmart

In related news, insider Jeffrey P. Foster sold 7,739 shares of the firm's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the transaction, the insider now directly owns 182,460 shares in the company, valued at approximately $8,630,358. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Joel D. Keaton sold 43,478 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the completion of the transaction, the chief operating officer now directly owns 87,663 shares in the company, valued at $4,205,194.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now directly owns 182,460 shares of the company's stock, valued at $8,630,358. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock worth $4,244,344 over the last 90 days. Insiders own 1.68% of the company's stock.

Hedge Funds Weigh In On CubeSmart

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of CubeSmart by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust's stock worth $1,443,316,000 after purchasing an additional 274,493 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust's stock worth $257,191,000 after buying an additional 1,205,097 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CubeSmart by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust's stock valued at $273,986,000 after buying an additional 624,661 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CubeSmart by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust's stock valued at $152,652,000 after buying an additional 169,600 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of CubeSmart by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust's stock worth $123,234,000 after acquiring an additional 303,347 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.