Stifel Nicolaus Reiterates “Buy” Rating for CubeSmart (NYSE:CUBE)

CubeSmart (NYSE:CUBE)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a report released on Wednesday, Benzinga reports. They presently have a $50.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ price objective points to a potential upside of 22.99% from the company’s previous close.

Several other research firms have also issued reports on CUBE. Truist Financial dropped their price objective on CubeSmart from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, August 29th. JPMorgan Chase & Co. cut their price target on shares of CubeSmart from $50.00 to $48.00 in a report on Tuesday, June 13th. StockNews.com assumed coverage on shares of CubeSmart in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Raymond James cut their target price on shares of CubeSmart from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 31st. Finally, Citigroup decreased their price target on CubeSmart from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, August 24th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average price target of $47.55.

CubeSmart Stock Performance

CUBE opened at $40.66 on Wednesday. The stock’s 50 day simple moving average is $42.67 and its 200-day simple moving average is $44.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 1.05. The stock has a market cap of $9.14 billion, a PE ratio of 23.64, a P/E/G ratio of 2.87 and a beta of 0.58. CubeSmart has a 1 year low of $36.82 and a 1 year high of $48.93.

Institutional Trading of CubeSmart

Large investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL acquired a new position in shares of CubeSmart during the second quarter worth about $11,528,000. BOKF NA boosted its position in CubeSmart by 4.4% during the 2nd quarter. BOKF NA now owns 69,645 shares of the real estate investment trust’s stock worth $3,110,000 after acquiring an additional 2,951 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of CubeSmart by 10.1% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 38,814 shares of the real estate investment trust’s stock worth $1,734,000 after acquiring an additional 3,575 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of CubeSmart by 129.3% in the second quarter. Orion Portfolio Solutions LLC now owns 61,413 shares of the real estate investment trust’s stock valued at $2,743,000 after purchasing an additional 34,633 shares during the last quarter. Finally, Howard Capital Management Group LLC bought a new stake in shares of CubeSmart in the second quarter worth $176,000. 96.66% of the stock is owned by institutional investors.

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.