CubeSmart (CUBE) PT Set at $32.00 by B. Riley
CubeSmart (NYSE:CUBE) has been assigned a $32.00 price target by stock analysts at B. Riley in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price target would suggest a potential upside of 10.08% from the stock’s current price.
CUBE has been the topic of several other reports. Zacks Investment Research downgraded CubeSmart from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. BidaskClub upgraded CubeSmart from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Bank of America Corporation downgraded CubeSmart from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $27.75 to $25.00 in a research report on Thursday, July 20th. UBS AG downgraded CubeSmart from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $27.00 target price on shares of CubeSmart in a research report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.10.
CubeSmart (NYSE:CUBE) opened at $29.07 on Tuesday. The stock has a market capitalization of $5,283.55, a price-to-earnings ratio of 18.84, a PEG ratio of 3.77 and a beta of 0.20. CubeSmart has a 52 week low of $22.83 and a 52 week high of $29.67. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00.
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A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 370 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of CubeSmart by 31.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,306 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 283 shares during the last quarter. World Asset Management Inc bought a new stake in shares of CubeSmart in the third quarter worth about $200,000. Finally, Comerica Bank bought a new stake in shares of CubeSmart in the third quarter worth about $220,000.
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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