CubeSmart (NYSE:CUBE) Now Covered by Analysts at BNP Paribas Exane

Investment analysts at BNP Paribas Exane assumed coverage on shares of CubeSmart (NYSE:CUBE - Get Free Report) in a report released on Tuesday, MarketBeat.com reports. The brokerage set a "neutral" rating and a $46.00 price target on the real estate investment trust's stock. BNP Paribas Exane's price objective would indicate a potential upside of 8.68% from the stock's current price.

CUBE has been the topic of several other research reports. Truist Financial raised their price target on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $48.00 to $49.00 in a research note on Friday, June 20th. Scotiabank lifted their price target on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Mizuho increased their price objective on CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and upped their target price for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $47.38.

CubeSmart Stock Performance

NYSE CUBE traded up $0.05 on Tuesday, reaching $42.33. 679,084 shares of the stock were exchanged, compared to its average volume of 1,537,549. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.17. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The company's 50-day simple moving average is $42.07 and its two-hundred day simple moving average is $41.81. The firm has a market capitalization of $9.65 billion, a PE ratio of 25.06, a PEG ratio of 7.74 and a beta of 0.98.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. CubeSmart had a return on equity of 13.57% and a net margin of 37.05%. The business had revenue of $273.04 million for the quarter, compared to the consensus estimate of $268.16 million. During the same quarter in the previous year, the company posted $0.64 EPS. The company's revenue was up 4.4% compared to the same quarter last year. Analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

Institutional Trading of CubeSmart

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 389 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 559 shares during the last quarter. Allworth Financial LP lifted its position in CubeSmart by 115.2% during the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 501 shares during the period. Finally, Huntington National Bank boosted its holdings in CubeSmart by 307.0% in the fourth quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 915 shares during the last quarter. Hedge funds and other institutional investors 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.