CubeSmart (NYSE:CUBE) Price Target Lowered to $44.00 at Wells Fargo & Company

CubeSmart (NYSE:CUBE - Get Free Report) had its target price lowered by analysts at Wells Fargo & Company from $50.00 to $44.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would indicate a potential upside of 4.35% from the stock's previous close.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a "sell" rating to a "hold" rating and reduced their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Jefferies Financial Group cut shares of CubeSmart from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Barclays lowered their price target on CubeSmart from $54.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Finally, Scotiabank reduced their price objective on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating for the company in a research note on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CubeSmart has a consensus rating of "Hold" and a consensus target price of $49.18.

CubeSmart Price Performance

Shares of CUBE traded up $0.36 during trading hours on Friday, hitting $42.17. 115,858 shares of the company were exchanged, compared to its average volume of 1,436,143. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $9.54 billion, a PE ratio of 23.82, a PEG ratio of 11.58 and a beta of 0.87. The firm has a fifty day simple moving average of $42.01 and a 200-day simple moving average of $47.23. CubeSmart has a one year low of $39.80 and a one year high of $55.14.

Institutional Investors Weigh In On CubeSmart

Several large investors have recently made changes to their positions in the company. Norges Bank bought a new position in CubeSmart during the fourth quarter valued at approximately $408,064,000. Capital World Investors increased its stake in shares of CubeSmart by 184.5% during the 4th quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock worth $126,161,000 after purchasing an additional 1,909,496 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of CubeSmart by 219.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock valued at $110,323,000 after purchasing an additional 1,768,626 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of CubeSmart by 27.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust's stock valued at $288,259,000 after purchasing an additional 1,464,331 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust's stock worth $90,229,000 after purchasing an additional 1,282,995 shares in the last quarter. Institutional investors 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.