CubeSmart (NYSE:CUBE) Receives Average Rating of “Hold” from Analysts

Shares of CubeSmart (NYSE:CUBE) have earned an average rating of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $51.36.

A number of research analysts recently issued reports on the stock. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Wells Fargo & Company lifted their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI increased their target price on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada cut their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Barclays lowered their price objective on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its holdings in shares of CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 323 shares during the period. 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 worth $32,000 after purchasing an additional 444 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in CubeSmart during the 2nd quarter worth $33,000. Peterson Financial Group Inc. acquired a new position in CubeSmart in the third quarter valued at $33,000. Finally, Quarry LP increased its stake in CubeSmart by 195.6% in the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 757 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

NYSE:CUBE opened at $46.27 on Friday. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company has a fifty day simple moving average of $48.67 and a two-hundred day simple moving average of $48.40. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 13.00 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). The company had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, equities analysts anticipate that CubeSmart will post 2.63 earnings per share for the current fiscal year.

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.