CubeSmart (NYSE:CUBE) Price Target Increased to $50.00 by Analysts at Wells Fargo & Company

CubeSmart (NYSE:CUBE) had its price objective boosted by Wells Fargo & Company from $48.00 to $50.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages also recently commented on CUBE. Scotiabank started coverage on CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 target price on the stock. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group raised their price target on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Truist Financial increased their target price on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Evercore ISI boosted their price target on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.67.

CubeSmart Price Performance

CUBE opened at $48.41 on Monday. The firm has a market capitalization of $10.89 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 9.12 and a beta of 0.82. The business’s 50-day moving average is $51.56 and its two-hundred day moving average is $46.86. CubeSmart has a 1 year low of $33.17 and a 1 year high of $55.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.03.

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

Insider Buying and Selling at CubeSmart

In other news, COO Joel D. Keaton sold 43,478 shares of CubeSmart stock in a transaction 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 sale, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Joel D. Keaton sold 43,478 shares of CubeSmart stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher P. Marr sold 37,000 shares of CubeSmart stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the completion of the transaction, the chief executive officer now owns 576,836 shares of the company’s stock, valued at $27,947,704.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock valued at $4,244,344 over the last quarter. 1.68% of the stock is owned by company insiders.

Institutional Trading of CubeSmart

A number of hedge funds and other institutional investors have recently bought and sold shares of CUBE. Mather Group LLC. purchased a new position in shares of CubeSmart in the 1st quarter valued at about $26,000. Gateway Investment Advisers LLC raised its holdings in CubeSmart by 24.8% during the first quarter. Gateway Investment Advisers LLC now owns 234,822 shares of the real estate investment trust’s stock worth $10,619,000 after purchasing an additional 46,718 shares in the last quarter. Hazelview Securities Inc. lifted its position in shares of CubeSmart by 100.8% during the 1st quarter. Hazelview Securities Inc. now owns 230,320 shares of the real estate investment trust’s stock worth $10,371,000 after buying an additional 115,600 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of CubeSmart in the 1st quarter valued at $270,000. Finally, Mirador Capital Partners LP grew its position in shares of CubeSmart by 5.4% in the 1st quarter. Mirador Capital Partners LP now owns 15,221 shares of the real estate investment trust’s stock valued at $688,000 after buying an additional 782 shares during 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.