CubeSmart (NYSE:CUBE) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

CubeSmart (NYSE:CUBE – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a report on Wednesday, October 8th. Barclays reduced their price target on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada lowered their price objective on CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. UBS Group cut their price objective on CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Finally, Citigroup reduced their target price on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average price target of $45.94.

Read Our Latest Analysis on CUBE

CubeSmart Price Performance

CUBE stock opened at $36.60 on Friday. The firm has a market cap of $8.35 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 8.91 and a beta of 0.99. 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 1 year low of $34.24 and a 1 year high of $50.69. The stock has a 50-day simple moving average of $40.30 and a 200-day simple moving average of $41.16.

CubeSmart (NYSE:CUBE – Get Free Report) last announced its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The company had revenue of $285.08 million during 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%.The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. On average, equities analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its stake in shares of CubeSmart by 29.1% during the 1st quarter. TD Private Client Wealth LLC now owns 2,544 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 573 shares in the last quarter. Allworth Financial LP lifted its position in CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 501 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of CubeSmart by 6.2% during the first quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust’s stock worth $230,000 after acquiring an additional 316 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of CubeSmart by 0.9% during the 1st quarter. State of Michigan Retirement System now owns 54,100 shares of the real estate investment trust’s stock valued at $2,311,000 after buying an additional 500 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in CubeSmart by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 63,400 shares of the real estate investment trust’s stock valued at $2,708,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

About CubeSmart

(Get Free Report)

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.

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