CubeSmart (NYSE:CUBE) Receives $50.67 Average Price Target from Brokerages

CubeSmart (NYSE:CUBE) has received an average recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $51.73.

A number of analysts have recently weighed in on the stock. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Raymond James increased their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group increased their target price on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada assumed coverage on shares of CubeSmart in a report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st.

CubeSmart Stock Performance

NYSE CUBE opened at $48.25 on Friday. The company has a 50-day simple moving average of $51.50 and a two-hundred day simple moving average of $47.04. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. CubeSmart has a 12-month low of $33.32 and a 12-month high of $55.14. The firm has a market cap of $10.87 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 8.81 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The firm had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, equities analysts forecast that CubeSmart will post 2.65 EPS for the current year.

Insider Buying and Selling at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $47.30, for a total transaction of $366,054.70. Following the completion of the transaction, the insider now owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the completion of the transaction, the chief operating officer now owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $47.30, for a total transaction of $366,054.70. Following the sale, the insider now directly owns 182,460 shares of the company’s stock, valued at $8,630,358. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,217 shares of company stock valued at $4,244,344. Corporate insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On CubeSmart

Several institutional investors and hedge funds have recently made changes to their positions in CUBE. Whittier Trust Co. increased its position in shares of CubeSmart by 136.9% during the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 323 shares in the last quarter. UMB Bank n.a. increased its position 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 valued at $32,000 after acquiring an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of CubeSmart during the second quarter valued at approximately $33,000. Larson Financial Group LLC bought a new stake in shares of CubeSmart during the first quarter valued at approximately $45,000. Finally, Quarry LP increased its position in shares of CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares in the last quarter. 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.