CubeSmart (NYSE:CUBE) Given Consensus Recommendation of “Hold” by Analysts

Shares of CubeSmart (NYSE:CUBE) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $45.9375.

A number of brokerages recently issued reports on CUBE. Royal Bank Of Canada decreased their price target on shares of CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of CubeSmart in a report on Wednesday, October 8th. Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, November 17th. KeyCorp reissued a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Finally, Evercore ISI cut their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd.

CubeSmart Trading Down 0.3%

NYSE:CUBE opened at $37.23 on Friday. CubeSmart has a 12-month low of $34.24 and a 12-month high of $50.44. The firm has a market cap of $8.49 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 8.91 and a beta of 0.99. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. The stock has a fifty day moving average price of $39.09 and a 200 day moving average price of $40.67.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. The company had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.CubeSmart’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 EPS. Sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CubeSmart

Institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake 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 valued at $1,587,000 after acquiring an additional 6,179 shares during the last quarter. MetLife Investment Management LLC grew its holdings in CubeSmart by 63.7% in the first quarter. MetLife Investment Management LLC now owns 219,496 shares of the real estate investment trust’s stock valued at $9,375,000 after purchasing an additional 85,414 shares during the period. Jump Financial LLC purchased a new stake in CubeSmart in the first quarter valued at approximately $824,000. Charles Schwab Investment Management Inc. increased its position in CubeSmart by 1.9% during the first 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 last quarter. Finally, Northern Trust Corp raised its stake in CubeSmart by 4.3% during the first quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock worth $167,463,000 after purchasing an additional 162,068 shares during the period. Hedge funds and other 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.