CubeSmart (NYSE:CUBE) Rating Reiterated by Raymond James

CubeSmart (NYSE:CUBE)‘s stock had its “outperform” rating reissued by Raymond James in a research note issued on Thursday, Benzinga reports. They currently have a $48.00 price target on the real estate investment trust’s stock. Raymond James’ target price indicates a potential upside of 6.19% from the stock’s current price.

A number of other brokerages also recently commented on CUBE. BMO Capital Markets raised CubeSmart from a “market perform” rating to an “outperform” rating and increased their price target for the company from $46.00 to $49.00 in a research report on Friday, December 15th. Jefferies Financial Group upgraded CubeSmart from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $53.00 in a research note on Tuesday, January 2nd. Evercore ISI boosted their price objective on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, March 4th. Truist Financial boosted their price objective on CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, December 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CubeSmart in a research report on Tuesday, January 30th. They set a “sell” rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.00.

CubeSmart Trading Up 0.7 %

CUBE traded up $0.31 during trading on Thursday, reaching $45.20. 608,115 shares of the stock traded hands, compared to its average volume of 1,522,403. The stock has a market capitalization of $10.17 billion, a PE ratio of 24.95 and a beta of 0.69. The stock’s 50-day moving average is $43.97 and its 200 day moving average is $41.60. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. CubeSmart has a 12 month low of $33.17 and a 12 month high of $48.93.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CUBE. Vanguard Group Inc. boosted its holdings in shares of CubeSmart by 4.9% in the first quarter. Vanguard Group Inc. now owns 32,178,558 shares of the real estate investment trust’s stock valued at $1,674,250,000 after acquiring an additional 1,515,436 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of CubeSmart by 0.5% in the first quarter. BlackRock Inc. now owns 26,226,479 shares of the real estate investment trust’s stock valued at $1,212,188,000 after acquiring an additional 138,651 shares in the last quarter. State Street Corp boosted its holdings in shares of CubeSmart by 1.4% in the first quarter. State Street Corp now owns 12,425,300 shares of the real estate investment trust’s stock valued at $580,252,000 after acquiring an additional 173,717 shares in the last quarter. Norges Bank purchased a new stake in shares of CubeSmart in the fourth quarter valued at about $444,818,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of CubeSmart by 15.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,623,268 shares of the real estate investment trust’s stock valued at $226,337,000 after acquiring an additional 740,019 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

About CubeSmart

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.