UBS Group Forecasts Strong Price Appreciation for CubeSmart (NYSE:CUBE) Stock

CubeSmart (NYSE:CUBE) had its price objective upped by equities researchers at UBS Group from $38.00 to $44.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s price target would suggest a potential downside of 4.01% from the company’s current price.

A number of other equities research analysts have also commented on CUBE. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Tuesday, October 13th. Barclays raised shares of CubeSmart from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $46.00 in a research report on Friday, July 10th. Royal Bank Of Canada restated an “outperform” rating and set a $47.00 price objective on shares of CubeSmart in a research note on Tuesday, August 4th. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a research note on Tuesday, August 4th. Finally, Mizuho dropped their price objective on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, September 2nd. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.27.

CubeSmart Stock Performance

Shares of NYSE CUBE traded up $1.58 during mid-day trading on Wednesday, hitting $45.84. The stock had a trading volume of 2,446,143 shares, compared to its average volume of 2,306,460. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.07 and a current ratio of 0.06. The company has a 50 day moving average of $39.29 and a two-hundred day moving average of $39.64. CubeSmart has a twelve month low of $35.09 and a twelve month high of $45.91. The firm has a market cap of $10.24 billion, a PE ratio of 30.36, a PEG ratio of 7.42 and a beta of 0.98.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The firm had revenue of $293.97 million for the quarter, compared to analyst estimates of $287.28 million. During the same period in the prior year, the firm posted $0.65 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Research analysts predict that CubeSmart will post 2.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey Foster sold 22,776 shares of CubeSmart stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $43.72, for a total transaction of $995,766.72. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at approximately $8,965,092.04. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of CubeSmart

A number of hedge funds have recently modified their holdings of CUBE. BlackRock Inc. acquired a new stake in CubeSmart during the second quarter worth about $1,349,164,000. Canada Pension Plan Investment Board acquired a new position in CubeSmart in the second quarter valued at approximately $288,512,000. Bank of New York Mellon Corp acquired a new position in CubeSmart in the second quarter valued at approximately $74,199,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in CubeSmart in the second quarter valued at approximately $68,552,000. Finally, Legal & General Group Plc purchased a new stake in CubeSmart in the 2nd quarter worth approximately $47,851,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

About CubeSmart

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.