CubeSmart (NYSE:CUBE) Now Covered by Wolfe Research

Analysts at Wolfe Research started coverage on shares of CubeSmart (NYSE:CUBE) in a note issued to investors on Monday. The brokerage set an “outperform” rating and a $48.00 price target on the real estate investment trust’s stock. Wolfe Research’s target price indicates a potential upside of 10.24% from the company’s current price.

Several other research firms have also commented on CUBE. KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research report on Thursday, March 6th. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $50.00 in a report on Tuesday, May 13th. Evercore ISI increased their price objective on CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a report on Friday, May 2nd. Mizuho began coverage on CubeSmart in a research report on Wednesday, April 9th. They set a “neutral” rating and a $39.00 price target for the company. Finally, Scotiabank increased their price target on CubeSmart from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.07.

CubeSmart Stock Performance

Shares of CUBE traded down $0.14 during mid-day trading on Monday, hitting $43.54. The stock had a trading volume of 225,474 shares, compared to its average volume of 1,476,864. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market cap of $9.93 billion, a PE ratio of 24.61, a PEG ratio of 11.58 and a beta of 1.00. The company’s fifty day simple moving average is $40.62 and its two-hundred day simple moving average is $42.91.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, equities analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the period. Jones Financial Companies Lllp raised its stake in CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 389 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 559 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of CubeSmart by 115.2% in the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 501 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 351 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.