Evercore ISI Analysts Give CubeSmart (NYSE:CUBE) a $58.00 Price Target

CubeSmart (NYSE:CUBEGet Rating) received a $58.00 target price from Evercore ISI in a research report issued on Monday, Stock Target Advisor reports. Evercore ISI’s price target suggests a potential upside of 45.00% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Truist Financial lowered their target price on CubeSmart from $55.00 to $48.00 and set a “na” rating for the company in a report on Monday, May 16th. TheStreet cut CubeSmart from a “b” rating to a “c+” rating in a report on Tuesday, May 17th. Raymond James raised CubeSmart from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $60.00 to $52.00 in a report on Monday, May 23rd. JPMorgan Chase & Co. upped their price target on CubeSmart from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, April 4th. Finally, StockNews.com upgraded CubeSmart from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CubeSmart presently has an average rating of “Buy” and an average target price of $53.17.

Shares of CubeSmart stock traded up $0.04 during trading on Monday, reaching $40.00. 83,445 shares of the company’s stock were exchanged, compared to its average volume of 1,680,247. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.05 and a current ratio of 0.05. CubeSmart has a 1-year low of $38.67 and a 1-year high of $57.34. The company has a market cap of $8.98 billion, a P/E ratio of 38.10, a PEG ratio of 2.22 and a beta of 0.49. The firm’s 50-day moving average price is $45.85 and its 200 day moving average price is $49.79.

CubeSmart (NYSE:CUBEGet Rating) last issued its earnings results on Thursday, April 28th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.40). CubeSmart had a return on equity of 10.78% and a net margin of 26.65%. The firm had revenue of $238.57 million during the quarter, compared to analyst estimates of $240.13 million. During the same period in the previous year, the company earned $0.47 EPS. CubeSmart’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, equities research analysts predict that CubeSmart will post 2.43 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Curi Wealth Management LLC bought a new stake in shares of CubeSmart during the 4th quarter valued at about $26,000. PSI Advisors LLC bought a new stake in shares of CubeSmart during the 1st quarter valued at about $26,000. Focused Wealth Management Inc bought a new stake in shares of CubeSmart during the 1st quarter valued at about $26,000. MUFG Americas Holdings Corp boosted its position in shares of CubeSmart by 97.5% during the 4th quarter. MUFG Americas Holdings Corp now owns 472 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 233 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in CubeSmart by 503.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 477 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 398 shares during the period. Institutional investors own 95.92% of the company’s stock.

About CubeSmart (Get Rating)

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 secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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