Truist Financial Forecasts Strong Price Appreciation for CubeSmart (NYSE:CUBE) Stock

CubeSmart (NYSE:CUBE) had its price target raised by equities researchers at Truist Financial from $41.00 to $49.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial‘s price target indicates a potential upside of 9.00% from the stock’s previous close.

Several other equities research analysts also recently weighed in on CUBE. Royal Bank Of Canada restated an “outperform” rating and set a $47.00 price target on shares of CubeSmart in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on CubeSmart from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Mizuho lowered their price objective on CubeSmart from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, September 2nd. Raymond James Financial assumed coverage on shares of CubeSmart in a research note on Wednesday, July 15th. They set an “outperform” rating and a $44.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a report on Tuesday, October 13th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.00.

CubeSmart Trading Down 0.1%

Shares of CUBE stock opened at $44.95 on Thursday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.42. CubeSmart has a twelve month low of $35.09 and a twelve month high of $46.41. The company’s 50-day moving average price is $40.12 and its 200-day moving average price is $39.90. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 7.15 and a beta of 0.98.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $293.97 million during the quarter, compared to analysts’ expectations of $287.28 million. CubeSmart had a net margin of 30.17% and a return on equity of 13.15%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. As a group, equities analysts predict that CubeSmart will post 2.59 earnings per share for the current year.

Insider Activity

In other news, insider Jeffrey Foster sold 22,776 shares of CubeSmart stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $43.72, for a total value of $995,766.72. Following the transaction, the insider directly owned 205,057 shares of the company’s stock, valued at $8,965,092.04. The trade was a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Essential Partners LLC grew its stake in shares of CubeSmart by 594.7% in the 1st quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 779 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of CubeSmart by 143.2% during the second quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 554 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of CubeSmart by 145.7% during the third quarter. Bessemer Group Inc. now owns 1,398 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 829 shares during the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of CubeSmart by 38.1% during the second quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 391 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of CubeSmart during the second quarter worth $60,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Company Profile

CubeSmart is a self-storage real estate investment trust (REIT) that owns and operates storage facilities in the United States. Its facilities provide rental storage space for individuals and businesses, with options that may include climate-controlled units and storage for vehicles, depending on the location. In addition to operating its own properties, CubeSmart provides management services for self-storage facilities owned by third parties. Its locations serve customers in markets across the country, including major metropolitan areas.