CubeSmart (NYSE:CUBE) Rating Reiterated by Raymond James

CubeSmart (NYSE:CUBE)‘s stock had its “outperform” rating restated by research analysts at Raymond James in a research note issued on Thursday, Benzinga reports. They presently have a $48.00 price objective on the real estate investment trust’s stock. Raymond James’ target price indicates a potential upside of 6.19% from the stock’s previous close.

Several other brokerages have also weighed in on CUBE. Barclays started coverage on shares of CubeSmart in a report on Wednesday. They set an “equal weight” rating and a $48.00 price objective on the stock. BMO Capital Markets upgraded shares of CubeSmart from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $46.00 to $49.00 in a report on Friday, December 15th. Evercore ISI raised their target price on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th. Truist Financial lifted their price target on CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. Finally, Jefferies Financial Group raised CubeSmart from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $53.00 in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and an average price target of $46.00.

CubeSmart Trading Up 0.7 %

CUBE stock traded up $0.31 during midday trading on Thursday, hitting $45.20. The stock had a trading volume of 608,115 shares, compared to its average volume of 1,522,403. The firm has a market cap of $10.17 billion, a P/E ratio of 24.95 and a beta of 0.69. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. CubeSmart has a 1-year low of $33.17 and a 1-year high of $48.93. The business has a fifty day moving average price of $43.97 and a two-hundred day moving average price of $41.60.

Hedge Funds Weigh In On CubeSmart

Several hedge funds and other institutional investors have recently made changes to their positions in CUBE. Norges Bank acquired a new position in shares of CubeSmart during the 4th quarter valued at $444,818,000. Deutsche Bank AG lifted its holdings in CubeSmart by 1,915.7% in the 3rd quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock worth $116,609,000 after buying an additional 2,906,478 shares in the last quarter. Capital Research Global Investors acquired a new position in CubeSmart in the 1st quarter worth $137,023,000. Morgan Stanley lifted its holdings in CubeSmart by 181.1% in the 4th quarter. Morgan Stanley now owns 3,098,613 shares of the real estate investment trust’s stock worth $124,719,000 after buying an additional 1,996,294 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in CubeSmart by 96.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,484,402 shares of the real estate investment trust’s stock worth $148,854,000 after buying an additional 1,711,731 shares in the last quarter. 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.