CubeSmart (NYSE:CUBE) Now Covered by Analysts at Mizuho

Mizuho began coverage on shares of CubeSmart (NYSE:CUBE) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a “neutral” rating and a $39.00 price target on the real estate investment trust’s stock. Mizuho’s price target indicates a potential upside of 8.70% from the stock’s current price.

CUBE has been the topic of several other research reports. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price target for the company from $50.00 to $47.00 in a report on Friday, January 17th. Barclays cut their price target on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Royal Bank of Canada decreased their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.31.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $35.88 on Wednesday. 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 stock has a market capitalization of $8.18 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The firm’s 50 day moving average price is $41.56 and its 200-day moving average price is $44.97. CubeSmart has a twelve month low of $33.99 and a twelve month high of $55.14.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. Equities research analysts expect that CubeSmart will post 2.64 EPS for the current year.

Institutional Trading of CubeSmart

A number of institutional investors have recently bought and sold shares of CUBE. Blue Trust Inc. raised its stake in shares of CubeSmart by 74.9% in 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 position in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 389 shares during the period. Versant Capital Management Inc lifted its stake in shares of CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 673 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 559 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of CubeSmart by 59.4% during the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Company Profile

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.