Barclays Lowers CubeSmart (NYSE:CUBE) Price Target to $50.00

CubeSmart (NYSE:CUBEGet Free Report) had its target price dropped by investment analysts at Barclays from $54.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 22.91% from the stock’s current price.

Several other research analysts have also weighed in on CUBE. Scotiabank reduced their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their price target for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Wells Fargo & Company raised their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.00.

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CubeSmart Stock Performance

Shares of CubeSmart stock opened at $40.68 on Monday. The firm has a fifty day moving average of $45.87 and a two-hundred day moving average of $48.26. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 13.00 and a beta of 0.87. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14.

CubeSmart (NYSE:CUBEGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. During the same period last year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that CubeSmart will post 2.63 EPS for the current year.

Institutional Investors Weigh In On CubeSmart

Several institutional investors have recently bought and sold shares of CUBE. Versant Capital Management Inc raised its holdings 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 purchasing an additional 673 shares during the last quarter. UMB Bank n.a. boosted its holdings in CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in CubeSmart in the second quarter valued at $33,000. Peterson Financial Group Inc. bought a new stake in CubeSmart during the 3rd quarter worth about $33,000. Finally, Quarry LP boosted its stake in shares of CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 757 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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