CubeSmart (NYSE:CUBE) Receives $44.90 Consensus Target Price from Brokerages

Shares of CubeSmart (NYSE:CUBE) have earned a consensus rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $44.90.

Several research firms have commented on CUBE. Raymond James decreased their price objective on shares of CubeSmart from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, October 24th. Truist Financial decreased their price target on shares of CubeSmart from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, August 29th. Stifel Nicolaus restated a “buy” rating and set a $50.00 price target on shares of CubeSmart in a research note on Wednesday, September 13th. Bank of America lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $51.00 to $38.00 in a research note on Monday, October 30th. Finally, StockNews.com began coverage on shares of CubeSmart in a research note on Thursday, October 5th. They set a “hold” rating for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. BOKF NA boosted its holdings in CubeSmart by 106.5% in the 1st quarter. BOKF NA now owns 66,694 shares of the real estate investment trust’s stock valued at $3,083,000 after purchasing an additional 34,394 shares during the period. Boston Trust Walden Corp boosted its holdings in CubeSmart by 59.8% in the 2nd quarter. Boston Trust Walden Corp now owns 703,951 shares of the real estate investment trust’s stock valued at $31,438,000 after purchasing an additional 263,299 shares during the period. DAVENPORT & Co LLC bought a new position in CubeSmart in the 1st quarter valued at $5,280,000. LPL Financial LLC lifted its holdings in shares of CubeSmart by 136.6% during the 1st quarter. LPL Financial LLC now owns 79,533 shares of the real estate investment trust’s stock worth $3,676,000 after acquiring an additional 45,911 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of CubeSmart during the 1st quarter worth $584,000. 96.66% of the stock is owned by institutional investors.

CubeSmart Trading Down 0.6 %

NYSE:CUBE opened at $39.05 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 3.35 and a beta of 0.64. CubeSmart has a 52 week low of $33.17 and a 52 week high of $48.93. The firm has a 50-day moving average price of $37.49 and a two-hundred day moving average price of $41.65.

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.