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

CubeSmart (NYSE:CUBE) had its target price trimmed by Scotiabank from $53.00 to $52.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on the company. Truist Financial upped their target price on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada lowered their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company lifted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Barclays decreased 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 note on Monday, October 28th. Finally, Evercore ISI lifted their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CubeSmart has a consensus rating of “Hold” and a consensus target price of $51.36.

CubeSmart Stock Up 0.4 %

CUBE stock opened at $50.14 on Monday. CubeSmart has a 1-year low of $38.34 and a 1-year high of $55.14. The business’s 50 day simple moving average is $49.96 and its 200 day simple moving average is $47.98. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $11.34 billion, a PE ratio of 28.33, a PEG ratio of 14.02 and a beta of 0.84.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its stake in CubeSmart by 32.6% during the first quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust’s stock worth $4,040,000 after acquiring an additional 21,967 shares in the last quarter. Boston Trust Walden Corp boosted its position in CubeSmart by 2.7% in the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust’s stock valued at $39,947,000 after buying an additional 23,179 shares in the last quarter. PGGM Investments boosted its position in CubeSmart by 7.3% in the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust’s stock valued at $39,242,000 after buying an additional 59,020 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of CubeSmart by 52.6% during the second quarter. Gateway Investment Advisers LLC now owns 358,286 shares of the real estate investment trust’s stock worth $16,184,000 after buying an additional 123,464 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of CubeSmart by 292.6% during the second quarter. Harbor Capital Advisors Inc. now owns 14,538 shares of the real estate investment trust’s stock worth $657,000 after buying an additional 10,835 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.