CubeSmart (NYSE:CUBE) Given New $52.00 Price Target at Scotiabank

CubeSmart (NYSE:CUBE) had its price objective cut by Scotiabank from $53.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on the stock. Truist Financial upped their target price on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Barclays dropped their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Evercore ISI upped their price target on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Jefferies Financial Group raised their price objective on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.36.

CubeSmart Trading Up 0.4 %

Shares of CubeSmart stock opened at $50.14 on Monday. The stock has a market capitalization of $11.34 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 14.00 and a beta of 0.84. CubeSmart has a 52 week low of $38.34 and a 52 week high of $55.14. The stock has a 50 day moving average price of $50.04 and a two-hundred day moving average price of $47.97. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

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

Institutional Trading of CubeSmart

A number of large investors have recently added to or reduced their stakes in CUBE. Quarry LP boosted its stake in CubeSmart by 19.8% in the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 227 shares during the last quarter. CIBC Asset Management Inc lifted its stake in CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 233 shares during the last quarter. HighTower Advisors LLC lifted its stake in CubeSmart by 0.8% in the third quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock valued at $1,758,000 after purchasing an additional 243 shares during the last quarter. Mirador Capital Partners LP grew its holdings in CubeSmart by 1.6% during the third quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 248 shares during the period. Finally, Captrust Financial Advisors increased its position in CubeSmart by 4.5% in the third quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors 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.