Barclays Issues Pessimistic Forecast for CubeSmart (NYSE:CUBE) Stock Price

CubeSmart (NYSE:CUBE) had its price objective dropped by analysts at Barclays from $50.00 to $49.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 18.00% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their target price for the company from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and cut their price target for the stock from $46.00 to $45.00 in a report on Friday, January 10th. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Finally, Wells Fargo & Company cut their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.00.

CubeSmart Stock Performance

Shares of NYSE:CUBE traded down $0.58 during midday trading on Wednesday, reaching $41.53. The company had a trading volume of 202,811 shares, compared to its average volume of 1,333,628. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock has a market cap of $9.46 billion, a P/E ratio of 23.46, a P/E/G ratio of 11.58 and a beta of 0.88. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The company’s 50 day moving average price is $41.78 and its 200 day moving average price is $46.66.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.23. The business had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. As a group, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

Institutional Investors Weigh In On CubeSmart

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its position in CubeSmart by 19.8% during the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 227 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of CubeSmart by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 233 shares during the period. HighTower Advisors LLC increased its position in shares of CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock valued at $1,758,000 after purchasing an additional 243 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of CubeSmart by 4.5% in the 3rd quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 248 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 289 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

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.