CubeSmart (NYSE:CUBE) Raised to “Hold” at Scotiabank

CubeSmart (NYSE:CUBE) was upgraded by equities research analysts at Scotiabank to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the stock. UBS Group decreased their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Barclays increased their price target on CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Mizuho reduced their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Tuesday, January 20th. Finally, Wolfe Research downgraded CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.64.

CubeSmart Stock Performance

NYSE:CUBE opened at $36.65 on Thursday. The company has a market cap of $8.32 billion, a P/E ratio of 25.28 and a beta of 1.10. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company’s 50-day moving average price is $38.92 and its 200-day moving average price is $38.61. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24.

Insider Buying and Selling

In other news, insider Jeffrey P. Foster sold 23,148 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the transaction, the insider owned 205,057 shares of the company’s stock, valued at $8,411,438.14. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.69% of the stock is owned by corporate insiders.

Institutional Trading of CubeSmart

Institutional investors and hedge funds have recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. increased its stake in CubeSmart by 4.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust’s stock worth $73,748,000 after purchasing an additional 75,855 shares during the period. Capital Fund Management S.A. purchased a new position in shares of CubeSmart in the second quarter valued at approximately $1,583,000. Wealth Enhancement Advisory Services LLC increased its stake in CubeSmart by 817.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 98,298 shares of the real estate investment trust’s stock worth $3,936,000 after buying an additional 87,589 shares during the period. Retirement Systems of Alabama lifted its holdings in CubeSmart by 5.4% during the 3rd quarter. Retirement Systems of Alabama now owns 639,109 shares of the real estate investment trust’s stock worth $25,986,000 after buying an additional 32,697 shares in the last quarter. Finally, Davidson Investment Advisors lifted its holdings in CubeSmart by 29.3% during the 3rd quarter. Davidson Investment Advisors now owns 460,024 shares of the real estate investment trust’s stock worth $18,705,000 after buying an additional 104,283 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

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.