CubeSmart (NYSE:CUBE) Rating Lowered to Hold at Jefferies Financial Group

CubeSmart (NYSE:CUBE) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Thursday, Marketbeat.com reports. They presently have a $46.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $57.00. Jefferies Financial Group’s price objective would suggest a potential upside of 7.35% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Evercore ISI increased their price target on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada lowered their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Scotiabank cut their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Barclays lowered their price target on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Wells Fargo & Company boosted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $49.91.

CubeSmart Stock Up 1.2 %

CUBE stock opened at $42.85 on Thursday. The firm has a market cap of $9.69 billion, a PE ratio of 24.21, a PEG ratio of 13.00 and a beta of 0.84. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The company has a fifty day simple moving average of $46.95 and a 200 day simple moving average of $48.45. 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 (NYSE:CUBE) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. Sell-side analysts anticipate that CubeSmart will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On CubeSmart

Hedge funds have recently made changes to their positions in the business. UMB Bank n.a. increased its stake in CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 444 shares during the period. Peterson Financial Group Inc. acquired a new stake in CubeSmart during the third quarter valued at approximately $33,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of CubeSmart in the 2nd quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new position in shares of CubeSmart in the 3rd quarter worth approximately $59,000. Finally, Quarry LP lifted its holdings in shares of CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares during the period. Institutional investors and hedge funds 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.