Mizuho Issues Positive Forecast for CubeSmart (NYSE:CUBE) Stock Price

CubeSmart (NYSE:CUBE - Get Free Report) had its target price lifted by research analysts at Mizuho from $39.00 to $43.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. Mizuho's price target would suggest a potential upside of 2.65% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Truist Financial increased their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Wolfe Research assumed coverage on shares of CubeSmart in a research note on Monday, May 19th. They issued an "outperform" rating and a $48.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Finally, Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and increased their price objective for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $47.33.

CubeSmart Stock Up 0.0%

Shares of CUBE traded up $0.01 on Wednesday, reaching $41.89. The company's stock had a trading volume of 671,841 shares, compared to its average volume of 1,495,376. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The stock has a market capitalization of $9.55 billion, a PE ratio of 23.66, a PEG ratio of 11.58 and a beta of 1.00. The firm has a fifty day moving average of $40.65 and a 200-day moving average of $42.65.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. During the same quarter in the prior year, the business posted $0.64 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC raised its position in shares of CubeSmart by 54.0% during the 3rd quarter. Barclays PLC now owns 330,549 shares of the real estate investment trust's stock valued at $17,793,000 after buying an additional 115,904 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of CubeSmart by 20.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,153 shares of the real estate investment trust's stock valued at $135,000 after buying an additional 543 shares in the last quarter. Blue Trust Inc. raised its position in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 289 shares in the last quarter. KBC Group NV raised its position in shares of CubeSmart by 54.6% during the 4th quarter. KBC Group NV now owns 9,068 shares of the real estate investment trust's stock valued at $389,000 after buying an additional 3,201 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of CubeSmart by 3.3% during the 4th quarter. Boston Trust Walden Corp now owns 906,551 shares of the real estate investment trust's stock valued at $38,846,000 after buying an additional 29,280 shares in the last quarter. 97.61% of the stock is 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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