CubeSmart (NYSE:CUBE) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

CubeSmart (NYSE:CUBE) was upgraded by Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a report released on Friday, MarketBeat Ratings reports. The firm currently 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 suggests a potential upside of 12.02% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Scotiabank decreased their target price 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. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target 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. Royal Bank of Canada lowered their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.36.

CubeSmart Stock Performance

Shares of NYSE:CUBE opened at $40.17 on Friday. The firm’s 50 day simple moving average is $46.02 and its 200 day simple moving average is $48.27. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 13.00 and a beta of 0.87. 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 posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that CubeSmart will post 2.63 earnings per share for the current year.

Institutional Trading of CubeSmart

Hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 444 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of CubeSmart in the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in shares of CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 673 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in CubeSmart during the second quarter worth $33,000. Finally, Brooklyn Investment Group bought a new stake in CubeSmart during the third quarter worth $59,000. Institutional investors and hedge funds 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.