CubeSmart (NYSE:CUBE) Price Target Lowered to $43.00 at Citigroup

Key Points

• Citigroup has lowered CubeSmart's target price from $45.00 to $43.00, maintaining a "neutral" rating on the stock, suggesting a potential upside of 6.08% based on its previous close.
• analysts have mixed ratings on CubeSmart, with six giving a "Buy" rating and eleven issuing a "Hold" rating, leading to a consensus target price of $46.69.
• CubeSmart reported a quarterly EPS of $0.65, exceeding estimates, with a revenue of $282.30 million, which is a 6.0% year-over-year increase.

CubeSmart (NYSE:CUBE - Get Free Report) had its target price reduced by equities researchers at Citigroup from $45.00 to $43.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. Citigroup's price objective suggests a potential upside of 6.08% from the stock's previous close.

A number of other equities analysts also recently issued reports on CUBE. Truist Financial increased their price target on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a report on Monday, May 19th. BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $48.00 to $49.00 in a research note on Friday, June 20th. BNP Paribas raised shares of CubeSmart to a "hold" rating in a research note on Tuesday, June 24th. Scotiabank increased their price objective 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. Finally, Barclays lowered their price objective on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, CubeSmart has a consensus rating of "Hold" and a consensus target price of $46.69.

CubeSmart Stock Performance

CubeSmart stock traded down $0.5530 during trading hours on Monday, reaching $40.5370. 129,847 shares of the stock were exchanged, compared to its average volume of 1,772,933. The stock has a market cap of $9.24 billion, a P/E ratio of 24.71, a P/E/G ratio of 9.15 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. The firm's 50 day moving average is $41.27 and its 200 day moving average is $41.37.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. CubeSmart's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. Analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

Institutional Investors Weigh In On CubeSmart

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in CubeSmart by 140.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 808,440 shares of the real estate investment trust's stock valued at $34,528,000 after purchasing an additional 472,596 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of CubeSmart during the 1st quarter worth $821,000. Allspring Global Investments Holdings LLC grew its stake in shares of CubeSmart by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust's stock worth $212,886,000 after acquiring an additional 72,513 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in CubeSmart by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,183,271 shares of the real estate investment trust's stock worth $135,958,000 after purchasing an additional 58,564 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of CubeSmart by 4,739.3% in the 1st quarter. GAMMA Investing LLC now owns 93,108 shares of the real estate investment trust's stock valued at $3,977,000 after buying an additional 91,184 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

About CubeSmart

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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