Wells Fargo & Company Cuts CubeSmart (NYSE:CUBE) Price Target to $44.00

CubeSmart (NYSE:CUBE) had its target price lowered by equities researchers at Wells Fargo & Company from $50.00 to $44.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 4.88% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and cut their price objective for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Scotiabank decreased their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Finally, Barclays cut their price target on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.18.

CubeSmart Stock Performance

Shares of CUBE stock opened at $41.95 on Friday. The business has a fifty day moving average of $42.09 and a 200 day moving average of $47.27. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 11.39 and a beta of 0.87.

Institutional Trading of CubeSmart

Institutional investors have recently modified their holdings of the stock. Creative Planning boosted its stake in CubeSmart by 14.4% during the 3rd quarter. Creative Planning now owns 18,335 shares of the real estate investment trust’s stock worth $987,000 after purchasing an additional 2,307 shares during the last quarter. Howard Capital Management Group LLC purchased a new stake in CubeSmart during the 3rd quarter valued at about $212,000. Sequoia Financial Advisors LLC acquired a new stake in CubeSmart in the 3rd quarter valued at about $1,452,000. International Assets Investment Management LLC purchased a new position in CubeSmart in the 3rd quarter worth approximately $3,905,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of CubeSmart by 13.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,067 shares of the real estate investment trust’s stock worth $865,000 after purchasing an additional 1,938 shares during the last quarter. Institutional investors and hedge funds 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.