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

Shares of CubeSmart (NYSE:CUBE) have been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $51.73.

Several brokerages have recently weighed in on CUBE. Jefferies Financial Group raised their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays dropped their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Truist Financial lifted their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Scotiabank initiated coverage on CubeSmart in a report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price target on the stock.

Insiders Place Their Bets

In related news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction dated 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 approximately $8,630,358. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following the completion of the sale, the insider now directly owns 182,460 shares in the company, valued at $8,630,358. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the sale, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at approximately $27,947,704.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,217 shares of company stock worth $4,244,344. 1.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CUBE. Whittier Trust Co. boosted 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 buying an additional 323 shares during the period. UMB Bank n.a. grew its stake in CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in CubeSmart in the 2nd quarter worth approximately $33,000. Larson Financial Group LLC purchased a new position in shares of CubeSmart in the first quarter worth about $45,000. Finally, Quarry LP raised its holdings 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 worth $52,000 after purchasing an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of CubeSmart stock opened at $47.32 on Friday. The company has a 50 day moving average price of $51.36 and a 200 day moving average price of $47.08. CubeSmart has a 52 week low of $34.51 and a 52 week high of $55.14. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $10.66 billion, a P/E ratio of 26.73, a PEG ratio of 8.73 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.23). The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. Sell-side analysts expect that CubeSmart will post 2.65 EPS for the current year.

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.