CubeSmart (NYSE:CUBE) PT Raised to $50.00

CubeSmart (NYSE:CUBE) had its target price hoisted by investment analysts at Wells Fargo & Company from $48.00 to $50.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 3.09% from the stock’s current price.

Several other research analysts have also recently weighed in on CUBE. Raymond James boosted their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Truist Financial increased their price target on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 16th. Jefferies Financial Group lifted their price objective on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI raised their target price on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Scotiabank began coverage on shares of CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and an average price target of $50.67.

CubeSmart Stock Up 0.2 %

NYSE:CUBE opened at $48.50 on Monday. The firm has a 50-day simple moving average of $51.58 and a two-hundred day simple moving average of $46.88. The firm has a market cap of $10.91 billion, a P/E ratio of 27.06, a P/E/G ratio of 9.12 and a beta of 0.82. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.03 and a current ratio of 0.03.

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

Insider Buying and Selling at CubeSmart

In other news, insider Jeffrey P. Foster sold 7,739 shares of CubeSmart stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the transaction, the insider now owns 182,460 shares in the company, valued at approximately $8,630,358. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jeffrey P. Foster sold 7,739 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the transaction, the chief operating officer now directly owns 87,663 shares in the company, valued at approximately $4,205,194.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,217 shares of company stock worth $4,244,344 over the last 90 days. 1.68% of the stock is owned by insiders.

Institutional Investors Weigh In On CubeSmart

A number of large investors have recently made changes to their positions in CUBE. Whittier Trust Co. raised its stake in shares of CubeSmart by 136.9% during the 2nd 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 last quarter. Mather Group LLC. purchased a new stake in CubeSmart in the 1st quarter worth approximately $26,000. UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 444 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of CubeSmart during the 2nd quarter valued at approximately $33,000. Finally, Larson Financial Group LLC acquired a new position in shares of CubeSmart in the 1st quarter valued at $45,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

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.