CubeSmart (NYSE:CUBE) Receives Consensus Rating of “Hold” from Analysts

Shares of CubeSmart (NYSE:CUBE) have been assigned an average rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $51.45.

CUBE has been the topic of several research analyst reports. Royal Bank of Canada cut their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Barclays reduced their price target on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Evercore ISI upped their target price on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Jefferies Financial Group raised their price target on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Scotiabank initiated coverage on CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price objective on the stock.

CubeSmart Trading Up 0.8 %

Shares of CUBE stock opened at $48.99 on Wednesday. CubeSmart has a 1-year low of $38.29 and a 1-year high of $55.14. The firm has a market cap of $11.08 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 13.57 and a beta of 0.84. The company has a 50-day moving average of $50.52 and a two-hundred day moving average of $47.72. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, analysts predict that CubeSmart will post 2.64 EPS for the current year.

Hedge Funds Weigh In On CubeSmart

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. lifted its stake in CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 323 shares during the last quarter. UMB Bank n.a. raised its stake in shares of CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 444 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of CubeSmart during the third quarter worth $33,000. Ashton Thomas Private Wealth LLC purchased a new position in CubeSmart in the 2nd quarter valued at $33,000. Finally, Brooklyn Investment Group acquired a new position in CubeSmart in the 3rd quarter valued at $59,000. 97.61% of the stock is owned by institutional investors and hedge funds.

About CubeSmart

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.