CubeSmart (NYSE:CUBE) Stock Price Target Raised at Truist Financial

CubeSmart (NYSE:CUBE) had its target price lifted by analysts at Truist Financial from $41.00 to $49.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial‘s price target indicates a potential upside of 8.62% from the company’s previous close.

A number of other analysts have also commented on the company. Mizuho dropped their price target on CubeSmart from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, September 2nd. UBS Group boosted their price objective on shares of CubeSmart from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, November 4th. Wells Fargo & Company upped their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Evercore set a $46.00 price objective on shares of CubeSmart in a report on Monday, September 21st. Finally, Raymond James Financial initiated coverage on shares of CubeSmart in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 target price for the company. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

CubeSmart Trading Down 0.1%

NYSE CUBE traded down $0.03 on Thursday, hitting $45.11. The company’s stock had a trading volume of 604,027 shares, compared to its average volume of 2,290,239. CubeSmart has a 52-week low of $35.09 and a 52-week high of $46.41. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.42. The company’s 50-day simple moving average is $39.90 and its 200 day simple moving average is $39.83. The firm has a market cap of $10.08 billion, a P/E ratio of 29.87, a PEG ratio of 7.15 and a beta of 0.98.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The business had revenue of $293.97 million during the quarter, compared to the consensus estimate of $287.28 million. During the same quarter in the prior year, the business posted $0.65 earnings per share. CubeSmart’s quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts predict that CubeSmart will post 2.59 EPS for the current fiscal year.

Insider Buying and Selling at CubeSmart

In other news, insider Jeffrey Foster sold 22,776 shares of the 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 completion of the transaction, the insider owned 205,057 shares of the company’s stock, valued at approximately $8,965,092.04. This represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CUBE. GSI Capital Advisors LLC boosted its position in shares of CubeSmart by 37.4% during the third quarter. GSI Capital Advisors LLC now owns 170,885 shares of the real estate investment trust’s stock valued at $6,422,000 after purchasing an additional 46,477 shares in the last quarter. First Trust Advisors LP raised its holdings in CubeSmart by 8.9% in the third quarter. First Trust Advisors LP now owns 174,088 shares of the real estate investment trust’s stock worth $6,542,000 after purchasing an additional 14,220 shares in the last quarter. Focus Advisor Solutions LLC raised its holdings in CubeSmart by 81.4% in the third quarter. Focus Advisor Solutions LLC now owns 46,552 shares of the real estate investment trust’s stock worth $1,749,000 after purchasing an additional 20,894 shares in the last quarter. Voya Investment Management LLC raised its holdings in CubeSmart by 17.2% in the third quarter. Voya Investment Management LLC now owns 102,558 shares of the real estate investment trust’s stock worth $3,854,000 after purchasing an additional 15,043 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in CubeSmart during the third quarter valued at $5,797,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Company Profile

CubeSmart is a self-storage real estate investment trust (REIT) that owns and operates storage facilities in the United States. Its facilities provide rental storage space for individuals and businesses, with options that may include climate-controlled units and storage for vehicles, depending on the location. In addition to operating its own properties, CubeSmart provides management services for self-storage facilities owned by third parties. Its locations serve customers in markets across the country, including major metropolitan areas.