CubeSmart (NYSE:CUBE) Coverage Initiated at Barclays

Investment analysts at Barclays assumed coverage on shares of CubeSmart (NYSE:CUBE) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $48.00 price target on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 6.22% from the stock’s current price.

Several other research analysts have also recently weighed in on CUBE. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 price target for the company. Evercore ISI upped their price target on shares of CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Monday, March 4th. BMO Capital Markets upgraded shares of CubeSmart from a “market perform” rating to an “outperform” rating and upped their price target for the company from $46.00 to $49.00 in a report on Friday, December 15th. Truist Financial upped their price target on shares of CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a report on Thursday, December 28th. Finally, Jefferies Financial Group raised shares of CubeSmart from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $38.00 to $53.00 in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CubeSmart has a consensus rating of “Hold” and an average target price of $46.00.

CubeSmart Stock Down 0.5 %

Shares of NYSE CUBE opened at $45.19 on Wednesday. The stock has a market cap of $10.17 billion, a P/E ratio of 24.97 and a beta of 0.69. CubeSmart has a 52-week low of $33.17 and a 52-week high of $48.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a 50 day moving average price of $43.99 and a 200 day moving average price of $41.62.

Institutional Trading of CubeSmart

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of CubeSmart in the fourth quarter valued at $28,000. Signaturefd LLC increased its holdings in shares of CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of CubeSmart in the fourth quarter valued at $37,000. Quarry LP acquired a new position in shares of CubeSmart in the second quarter valued at $37,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of CubeSmart in the first quarter valued at $46,000. 97.61% of the stock is owned by institutional investors.

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.