CubeSmart (NYSE:CUBE) Price Target Raised to $46.00

CubeSmart (NYSE:CUBE - Get Free Report) had its price objective hoisted by research analysts at Wells Fargo & Company from $42.00 to $46.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target indicates a potential upside of 1.91% from the stock's current price.

Other equities analysts have also issued research reports about the company. Evercore ISI lifted their price target on CubeSmart from $43.00 to $45.00 and gave the company an "in-line" rating in a research note on Monday, March 4th. Raymond James reiterated an "outperform" rating and issued a $48.00 price objective on shares of CubeSmart in a report on Thursday, March 28th. Barclays assumed coverage on CubeSmart in a research report on Wednesday, March 27th. They issued an "equal weight" rating and a $48.00 target price on the stock. Jefferies Financial Group raised CubeSmart from a "hold" rating to a "buy" rating and upped their price objective for the stock from $38.00 to $53.00 in a research report on Tuesday, January 2nd. Finally, Truist Financial increased their target price on CubeSmart from $43.00 to $46.00 and gave the company a "hold" rating in a report on Thursday, December 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.33.

CubeSmart Stock Up 0.9 %

CubeSmart stock traded up $0.40 during mid-day trading on Friday, reaching $45.14. 899,184 shares of the company were exchanged, compared to its average volume of 1,519,332. CubeSmart has a 12-month low of $33.17 and a 12-month high of $48.93. The business has a fifty day moving average of $43.94 and a 200 day moving average of $41.80. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $10.15 billion, a P/E ratio of 24.94 and a beta of 0.69.

Hedge Funds Weigh In On CubeSmart

A number of institutional investors and hedge funds have recently bought and sold shares of CUBE. Pensionfund DSM Netherlands raised its position in shares of CubeSmart by 11.0% during the 1st quarter. Pensionfund DSM Netherlands now owns 70,800 shares of the real estate investment trust's stock valued at $3,202,000 after acquiring an additional 7,000 shares in the last quarter. Wellington Management Group LLP boosted its stake in CubeSmart by 52.2% during the fourth quarter. Wellington Management Group LLP now owns 1,754,594 shares of the real estate investment trust's stock valued at $81,325,000 after buying an additional 601,530 shares in the last quarter. Quarry LP boosted its stake in CubeSmart by 1,845.7% during the fourth quarter. Quarry LP now owns 1,362 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 1,292 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of CubeSmart by 0.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 418,030 shares of the real estate investment trust's stock valued at $19,376,000 after purchasing an additional 2,931 shares during the period. Finally, Virtus ETF Advisers LLC boosted its position in shares of CubeSmart by 16.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,205 shares of the real estate investment trust's stock valued at $241,000 after purchasing an additional 723 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

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.