CubeSmart (NYSE:CUBE) Price Target Lowered to $48.00 at Evercore ISI

CubeSmart (NYSE:CUBE) had its target price cut by Evercore ISI from $49.00 to $48.00 in a report issued on Monday, MarketBeat Ratings reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other brokerages have also recently commented on CUBE. Citigroup dropped their price target on CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, August 25th. UBS Group dropped their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Barclays dropped their target price on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft set a $45.00 target price on CubeSmart and gave the company a “buy” rating in a report on Monday, October 13th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.94.

CubeSmart Stock Down 1.9%

Shares of CUBE opened at $36.97 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. CubeSmart has a one year low of $34.24 and a one year high of $50.69. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 8.91 and a beta of 0.96. The stock has a 50 day moving average price of $40.64 and a 200 day moving average price of $41.24.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. CubeSmart has set its FY 2025 guidance at 2.560-2.600 EPS. Equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Institutional Trading of CubeSmart

Several large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its holdings in shares of CubeSmart by 19.9% during the 1st quarter. HighTower Advisors LLC now owns 37,160 shares of the real estate investment trust’s stock worth $1,587,000 after purchasing an additional 6,179 shares during the period. MetLife Investment Management LLC grew its holdings in shares of CubeSmart by 63.7% during the 1st quarter. MetLife Investment Management LLC now owns 219,496 shares of the real estate investment trust’s stock worth $9,375,000 after purchasing an additional 85,414 shares during the period. Jump Financial LLC purchased a new position in shares of CubeSmart during the 1st quarter worth $824,000. Charles Schwab Investment Management Inc. grew its holdings in shares of CubeSmart by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,183,271 shares of the real estate investment trust’s stock worth $135,958,000 after purchasing an additional 58,564 shares during the period. Finally, NTV Asset Management LLC purchased a new position in shares of CubeSmart during the 1st quarter worth $1,495,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

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.