CubeSmart (NYSE:CUBE) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

CubeSmart (NYSE:CUBE) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a report released on Friday, MarketBeat Ratings reports. The brokerage presently has a $45.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $46.00. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 9.01% from the company’s previous close.

CUBE has been the topic of a number of other research reports. Royal Bank of Canada decreased their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Scotiabank lowered their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and reduced their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. UBS Group lowered CubeSmart from a “buy” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Barclays dropped their price target on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, CubeSmart has an average rating of “Hold” and a consensus price target of $50.36.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $41.28 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The stock has a market cap of $9.34 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 13.00 and a beta of 0.87. The stock has a fifty day moving average of $46.16 and a 200-day moving average of $48.28.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same quarter in the prior year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that CubeSmart will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On CubeSmart

A number of institutional investors have recently made changes to their positions in the business. Quarry LP boosted its position in CubeSmart by 19.8% during the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 227 shares during the period. CIBC Asset Management Inc boosted its holdings in CubeSmart by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 233 shares during the period. HighTower Advisors LLC grew its position in CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after acquiring an additional 243 shares during the last quarter. Mirador Capital Partners LP increased its stake in CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 248 shares during the period. Finally, Captrust Financial Advisors lifted its position in CubeSmart by 4.5% in the third quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

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.