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CubeSmart (NYSE:CUBE) Given New $45.00 Price Target at Barclays

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Key Points

  • Barclays has decreased its price target for CubeSmart (NYSE:CUBE) from $48.00 to $45.00, maintaining an "equal weight" rating for the real estate investment trust.
  • CubeSmart's current consensus target price stands at $46.93, with analysts rating the stock as "Hold" on average and some firms like BMO Capital Markets suggesting an "outperform" rating.
  • CubeSmart reported a $0.65 EPS for the last quarter, exceeding expectations and showing a 6.0% year-over-year revenue growth.
  • Need Better Tools to Track CubeSmart? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

CubeSmart (NYSE:CUBE - Get Free Report) had its target price decreased by stock analysts at Barclays from $48.00 to $45.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price target would suggest a potential upside of 13.84% from the company's previous close.

A number of other brokerages have also recently commented on CUBE. Royal Bank Of Canada lowered their target price on CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Monday. BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and raised their target price for the company from $48.00 to $49.00 in a report on Friday, June 20th. Mizuho raised their target price on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Truist Financial lifted their price objective on CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Scotiabank lifted their price objective on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, CubeSmart presently has an average rating of "Hold" and a consensus target price of $46.93.

View Our Latest Stock Report on CubeSmart

CubeSmart Stock Up 0.1%

Shares of NYSE:CUBE opened at $39.53 on Friday. The business has a 50-day moving average price of $42.05 and a 200 day moving average price of $41.54. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 7.26 and a beta of 0.94. CubeSmart has a 12-month low of $34.24 and a 12-month high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%. The company had revenue of $282.30 million during the quarter, compared to analysts' expectations of $275.71 million. During the same period last year, the business posted $0.64 EPS. CubeSmart's revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts expect that CubeSmart will post 2.64 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position in CubeSmart by 308.2% during the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust's stock worth $29,000 after buying an additional 524 shares during the period. Allworth Financial LP increased 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 worth $37,000 after buying an additional 501 shares during the period. Covestor Ltd increased its position in CubeSmart by 22.8% during the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after buying an additional 292 shares during the period. Hantz Financial Services Inc. increased its position in CubeSmart by 1,776.1% during the second quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust's stock worth $70,000 after buying an additional 1,563 shares during the period. Finally, Signaturefd LLC increased its position in CubeSmart by 82.8% during the second quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust's stock worth $71,000 after buying an additional 761 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

About CubeSmart

(Get Free Report)

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.

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Analyst Recommendations for CubeSmart (NYSE:CUBE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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