CubeSmart (NYSE:CUBE) Upgraded at Truist Financial

CubeSmart (NYSE:CUBE) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a report released on Friday, Marketbeat.com reports. The firm presently has a $47.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $50.00. Truist Financial’s price target would indicate a potential upside of 13.51% from the company’s previous close.

A number of other equities analysts also recently weighed in on CUBE. Wells Fargo & Company raised their target price on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Scotiabank decreased their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Barclays reduced their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.73.

CubeSmart Price Performance

CUBE stock opened at $41.41 on Friday. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The company has a market cap of $9.36 billion, a P/E ratio of 23.39, a PEG ratio of 11.06 and a beta of 0.87. The firm has a 50-day moving average of $45.30 and a 200 day moving average of $48.14. 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 released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same period in the previous year, the company earned $0.68 earnings per share. CubeSmart’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that CubeSmart will post 2.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP increased its holdings in CubeSmart by 19.8% in the 3rd 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 increased its holdings in shares of CubeSmart by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 233 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of CubeSmart by 0.8% in the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after buying an additional 243 shares during the last quarter. Mirador Capital Partners LP increased its holdings in shares of CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock worth $855,000 after buying an additional 248 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of CubeSmart by 4.5% in the 3rd 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.