Deutsche Bank Aktiengesellschaft Upgrades CubeSmart (NYSE:CUBE) to Hold

CubeSmart (NYSE:CUBE) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a report issued on Friday, Marketbeat Ratings reports. The firm presently has a $45.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $46.00. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 12.02% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company increased 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. Scotiabank dropped their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Finally, Barclays reduced 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 report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average target price of $50.36.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $40.17 on Friday. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 13.00 and a beta of 0.87. CubeSmart has a one year low of $39.80 and a one year high of $55.14. The business has a fifty day simple moving average of $46.02 and a 200 day simple moving average of $48.27. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data 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). The business 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%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. Sell-side analysts expect that CubeSmart will post 2.63 EPS for the current year.

Institutional Investors Weigh In On CubeSmart

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in CubeSmart by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after purchasing an additional 624,661 shares during the period. Geode Capital Management LLC grew its position in shares of CubeSmart by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after buying an additional 50,340 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CubeSmart by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after buying an additional 169,600 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CubeSmart by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after buying an additional 135,211 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after acquiring an additional 303,347 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

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.