Shares of CubeSmart (NYSE:CUBE - Get Free Report) have received a consensus rating of "Hold" from the eleven ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $51.45.
A number of brokerages recently issued reports on CUBE. Scotiabank initiated coverage on CubeSmart in a research note on Thursday, August 22nd. They issued a "sector outperform" rating and a $53.00 target price for the company. Evercore ISI upped their target price on CubeSmart from $52.00 to $53.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Truist Financial lifted their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Jefferies Financial Group increased their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, Barclays decreased their target price on shares of CubeSmart from $55.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th.
Check Out Our Latest Research Report on CUBE
NYSE:CUBE opened at $48.99 on Wednesday. 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 $11.08 billion, a P/E ratio of 27.68, a P/E/G ratio of 13.57 and a beta of 0.84. The company's 50-day simple moving average is $50.52 and its 200-day simple moving average is $47.72. CubeSmart has a fifty-two week low of $38.29 and a fifty-two week high of $55.14.
CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.24). The business had revenue of $270.90 million for the quarter, compared to analysts' expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in CUBE. Chiron Investment Management LLC purchased a new stake in shares of CubeSmart in the third quarter valued at about $618,000. Coldstream Capital Management Inc. grew its stake in shares of CubeSmart by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 45,209 shares of the real estate investment trust's stock valued at $2,433,000 after buying an additional 1,857 shares during the period. Geode Capital Management LLC increased its holdings in shares of CubeSmart by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust's stock worth $247,295,000 after buying an additional 50,340 shares during the last quarter. Vestcor Inc raised its position in shares of CubeSmart by 129.3% during the 3rd quarter. Vestcor Inc now owns 43,622 shares of the real estate investment trust's stock valued at $2,348,000 after buying an additional 24,595 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its holdings in CubeSmart by 2.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,201,129 shares of the real estate investment trust's stock valued at $118,487,000 after acquiring an additional 42,994 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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