CubeSmart (NYSE:CUBE) Upgraded by Wall Street Zen to Hold Rating

CubeSmart (NYSE:CUBE) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. KeyCorp reissued a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Mizuho decreased their price objective on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a report on Wednesday, October 8th. Evercore ISI cut their target price on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Truist Financial reduced their price target on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.25.

CubeSmart Price Performance

NYSE:CUBE opened at $35.60 on Friday. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The company has a market cap of $8.12 billion, a P/E ratio of 22.82, a P/E/G ratio of 8.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s 50-day simple moving average is $37.96 and its 200 day simple moving average is $40.06.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. The firm had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. As a group, sell-side analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wiser Advisor Group LLC acquired a new stake in shares of CubeSmart during the 3rd quarter valued at $28,000. True Wealth Design LLC raised its position in CubeSmart by 308.2% in the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 524 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of CubeSmart by 209.6% during the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 478 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 568 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 295 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.