CubeSmart (NYSE:CUBE) Given Sector Weight Rating at KeyCorp

CubeSmart (NYSE:CUBE)‘s stock had its “sector weight” rating restated by analysts at KeyCorp in a report released on Monday,Benzinga reports.

A number of other research analysts have also weighed in on CUBE. Deutsche Bank Aktiengesellschaft set a $45.00 target price on shares of CubeSmart and gave the stock a “buy” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Barclays decreased their target price on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. Citigroup dropped their price target on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, August 25th. Finally, Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.94.

CubeSmart Stock Up 1.5%

CUBE opened at $37.54 on Monday. The firm has a market cap of $8.56 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 8.91 and a beta of 0.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. The business has a 50 day moving average price of $40.38 and a 200 day moving average price of $41.18. CubeSmart has a twelve month low of $34.24 and a twelve month high of $50.69.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. During the same quarter last year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts forecast that CubeSmart will post 2.64 EPS for the current year.

Institutional Investors Weigh In On CubeSmart

Institutional investors have recently bought and sold shares of the business. Syon Capital LLC increased its position in CubeSmart by 55.6% in the 3rd quarter. Syon Capital LLC now owns 12,884 shares of the real estate investment trust’s stock valued at $524,000 after acquiring an additional 4,603 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of CubeSmart during the third quarter worth approximately $715,000. Drucker Wealth 3.0 LLC grew its stake in shares of CubeSmart by 149.0% during the third quarter. Drucker Wealth 3.0 LLC now owns 25,611 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 15,326 shares during the last quarter. NEOS Investment Management LLC increased its holdings in shares of CubeSmart by 102.8% in the third quarter. NEOS Investment Management LLC now owns 21,913 shares of the real estate investment trust’s stock valued at $880,000 after purchasing an additional 11,110 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its position in CubeSmart by 7.7% in the 3rd quarter. Pallas Capital Advisors LLC now owns 54,801 shares of the real estate investment trust’s stock worth $2,228,000 after purchasing an additional 3,935 shares during the last quarter. 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.