CubeSmart (NYSE:CUBE) Price Target Cut to $54.00

CubeSmart (NYSE:CUBE - Get Free Report) had its price target reduced by research analysts at Barclays from $55.00 to $54.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price objective indicates a potential upside of 12.52% from the stock's current price.

A number of other equities analysts also recently commented on the stock. Evercore ISI boosted their target price on shares of CubeSmart from $52.00 to $53.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Raymond James increased their price objective on CubeSmart from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. UBS Group cut shares of CubeSmart from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Finally, Truist Financial upped their target price on shares of CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $50.58.

CubeSmart Stock Down 0.5 %

NYSE:CUBE traded down $0.26 during midday trading on Monday, reaching $47.99. The company had a trading volume of 1,242,574 shares, compared to its average volume of 1,346,727. CubeSmart has a 12-month low of $33.17 and a 12-month high of $55.14. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 8.81 and a beta of 0.82. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03. The stock's fifty day simple moving average is $51.56 and its 200-day simple moving average is $47.01.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Whittier Trust Co. boosted its stake in shares of CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 323 shares during the last quarter. UMB Bank n.a. boosted its stake in CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in CubeSmart during the 2nd quarter worth $33,000. Larson Financial Group LLC acquired a new position in CubeSmart during the 1st quarter worth $45,000. Finally, Quarry LP increased its position in shares of CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 757 shares during the last quarter. 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.