CubeSmart (NYSE:CUBE) Price Target Raised to $44.00

CubeSmart (NYSE:CUBE) had its price objective boosted by UBS Group from $38.00 to $44.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of CubeSmart from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Mizuho lowered their price objective on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 2nd. Barclays upgraded shares of CubeSmart from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $46.00 in a research note on Friday, July 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of CubeSmart in a report on Tuesday, August 4th. Finally, Raymond James Financial assumed coverage on shares of CubeSmart in a report on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 target price for the company. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.27.

CubeSmart Stock Performance

Shares of NYSE CUBE traded down $0.36 during trading hours on Wednesday, reaching $45.01. The stock had a trading volume of 1,725,396 shares, compared to its average volume of 2,232,084. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 7.42 and a beta of 0.98. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 1.42. CubeSmart has a fifty-two week low of $35.09 and a fifty-two week high of $46.41. The firm has a 50-day moving average of $39.59 and a 200-day moving average of $39.73.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The firm had revenue of $293.97 million for the quarter, compared to analyst estimates of $287.28 million. During the same period last year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that CubeSmart will post 2.59 earnings per share for the current year.

Insider Buying and Selling at CubeSmart

In other news, insider Jeffrey Foster sold 22,776 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $43.72, for a total value of $995,766.72. Following the transaction, the insider owned 205,057 shares of the company’s stock, valued at approximately $8,965,092.04. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On CubeSmart

Large investors have recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new position in CubeSmart in the 3rd quarter valued at $22,499,000. Ieq Capital LLC purchased a new position in CubeSmart during the 2nd quarter worth $9,966,000. Readystate Asset Management LP acquired a new stake in shares of CubeSmart in the 2nd quarter worth $2,989,000. Corient Private Wealth LP lifted its stake in shares of CubeSmart by 263.0% in the 2nd quarter. Corient Private Wealth LP now owns 161,619 shares of the real estate investment trust’s stock worth $6,428,000 after acquiring an additional 117,093 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of CubeSmart in the 2nd quarter worth $6,588,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.