CubeSmart (NYSE:CUBE) Price Target Raised to $48.00 at Wells Fargo & Company

CubeSmart (NYSE:CUBE) had its price objective lifted by Wells Fargo & Company from $46.00 to $48.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 2.11% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Evercore ISI increased their price target on CubeSmart from $44.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Raymond James increased their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, BMO Capital Markets downgraded shares of CubeSmart from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $50.00 to $47.00 in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $46.36.

CubeSmart Stock Performance

NYSE:CUBE opened at $47.01 on Friday. The company’s 50-day moving average is $44.54 and its two-hundred day moving average is $43.99. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 8.14 and a beta of 0.80. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a 1-year low of $33.17 and a 1-year high of $49.58.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The business had revenue of $261.41 million during the quarter, compared to analyst estimates of $253.91 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Analysts forecast that CubeSmart will post 2.64 EPS for the current year.

Hedge Funds Weigh In On CubeSmart

Institutional investors have recently modified their holdings of the business. Rise Advisors LLC acquired a new stake in shares of CubeSmart in the first quarter valued at $26,000. Mather Group LLC. acquired a new stake in CubeSmart in the 1st quarter valued at about $26,000. GAMMA Investing LLC purchased a new position in shares of CubeSmart in the 4th quarter valued at about $28,000. Signaturefd LLC boosted its stake in shares of CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 292 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in shares of CubeSmart during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

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.