CubeSmart (NYSE:CUBE) Sets New 1-Year High – Here’s What Happened

by · The Cerbat Gem

CubeSmart (NYSE:CUBE – Get Free Report)’s share price reached a new 52-week high during trading on Monday. The stock traded as high as $43.51 and last traded at $43.2730, with a volume of 243,123 shares traded. The stock had previously closed at $42.74.

Wall Street Analyst Weigh In

CUBE has been the subject of several recent research reports. Evercore set a $46.00 target price on shares of CubeSmart in a report on Monday, September 21st. Mizuho lowered their price target 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. 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 price target on the stock. UBS Group dropped their price objective on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, October 16th. Finally, KeyCorp restated a “sector weight” rating on shares of CubeSmart in a research report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus target price of $42.73.

Get Our Latest Report on CubeSmart

CubeSmart Stock Performance

The company has a market capitalization of $9.88 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 7.16 and a beta of 0.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.07 and a current ratio of 0.06. The stock’s fifty day simple moving average is $39.16 and its 200-day simple moving average is $39.58.

CubeSmart (NYSE:CUBE – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $293.97 million for the quarter, compared to analysts’ expectations of $287.28 million. CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities analysts predict that CubeSmart will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CUBE. Essential Partners LLC boosted its holdings in shares of CubeSmart by 594.7% during the first quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 779 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in CubeSmart by 143.2% in the second quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 554 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in CubeSmart by 38.1% during the second quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 391 shares during the period. Global Retirement Partners LLC purchased a new position in CubeSmart during the second quarter worth about $60,000. Finally, Ascentis Independent Advisors acquired a new stake in CubeSmart in the 1st quarter worth about $60,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Company Profile

(Get Free Report)

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.

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