CubeSmart (NYSE:CUBE) Rating Increased to Hold at Scotiabank

CubeSmart (NYSE:CUBE) was upgraded by equities researchers at Scotiabank to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. BNP Paribas Exane raised CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Wednesday. Finally, Truist Financial reduced their price objective on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus price target of $43.64.

CubeSmart Stock Down 4.1%

Shares of NYSE:CUBE opened at $36.65 on Thursday. The firm has a market capitalization of $8.32 billion, a PE ratio of 25.28 and a beta of 1.10. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. The firm’s 50-day moving average is $38.92 and its two-hundred day moving average is $38.61.

Insider Transactions at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CubeSmart

A number of hedge funds and other institutional investors have recently modified their holdings of CUBE. Royal Bank of Canada grew its stake in shares of CubeSmart by 1.3% during the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after purchasing an additional 2,284 shares in the last quarter. Jones Financial Companies Lllp raised its stake in CubeSmart by 944.3% in the first quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 6,412 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after buying an additional 19,476 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of CubeSmart during the 1st quarter worth about $270,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of CubeSmart by 12.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,471 shares of the real estate investment trust’s stock worth $530,000 after acquiring an additional 1,405 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.