CubeSmart (NYSE:CUBE) Rating Increased to Outperform at BMO Capital Markets

CubeSmart (NYSE:CUBE) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Friday,Finviz reports. The brokerage presently has a $49.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.78% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Truist Financial upped their target price on shares of CubeSmart from $47.00 to $48.00 and gave the company a “buy” rating in a report on Monday, May 19th. Wells Fargo & Company dropped their price target on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Mizuho upped their price target on shares of CubeSmart from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. Barclays dropped their target price on shares of CubeSmart from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Friday, May 16th. Finally, KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.47.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $42.69 on Friday. The stock has a market cap of $9.73 billion, a PE ratio of 25.26, a PEG ratio of 7.85 and a beta of 0.98. The company’s fifty day moving average is $41.66 and its 200 day moving average is $41.99. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.17.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. Research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

Institutional Trading of CubeSmart

A number of institutional investors have recently modified their holdings of CUBE. Blue Trust Inc. increased its holdings in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares in the last quarter. Jones Financial Companies Lllp boosted its stake 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 buying an additional 389 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 559 shares in the last quarter. Allworth Financial LP boosted its position in CubeSmart by 115.2% during the 1st 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 during the period. Finally, Huntington National Bank boosted its position in CubeSmart by 307.0% during the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 915 shares during the period. 97.61% of the stock is currently 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.