B. Riley Analysts Give CubeSmart (CUBE) a $32.00 Price Target
CubeSmart (NYSE:CUBE) has been assigned a $32.00 price objective by investment analysts at B. Riley in a research report issued on Tuesday. The firm currently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price target would suggest a potential upside of 10.04% from the company’s previous close.
Several other equities analysts have also recently commented on CUBE. BidaskClub raised shares of CubeSmart from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Bank of America Corporation cut shares of CubeSmart from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $27.75 to $25.00 in a research note on Thursday, July 20th. Zacks Investment Research cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Jefferies Group LLC set a $30.00 price target on shares of CubeSmart and gave the stock a “buy” rating in a research note on Friday, August 18th. Finally, KeyCorp reissued a “hold” rating on shares of CubeSmart in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $28.10.
Shares of CubeSmart (NYSE CUBE) traded down $0.31 during trading hours on Tuesday, reaching $29.08. 1,621,843 shares of the company traded hands, compared to its average volume of 1,996,368. The stock has a market capitalization of $5,260.03, a PE ratio of 18.76, a P/E/G ratio of 3.76 and a beta of 0.20. CubeSmart has a 12 month low of $22.83 and a 12 month high of $29.67. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.00.
Several institutional investors and hedge funds have recently made changes to their positions in CUBE. Cohen & Steers Inc. lifted its holdings in shares of CubeSmart by 349.3% in the 3rd quarter. Cohen & Steers Inc. now owns 13,828,409 shares of the real estate investment trust’s stock worth $358,985,000 after acquiring an additional 10,750,476 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of CubeSmart by 43,425.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,094,592 shares of the real estate investment trust’s stock worth $184,176,000 after acquiring an additional 7,078,292 shares during the last quarter. Cbre Clarion Securities LLC lifted its holdings in shares of CubeSmart by 62.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock worth $152,041,000 after acquiring an additional 2,423,464 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of CubeSmart in the 3rd quarter worth approximately $47,549,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CubeSmart by 12.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock worth $280,612,000 after acquiring an additional 1,335,665 shares during the last quarter.
CubeSmart Company Profile
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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