CubeSmart (NYSE:CUBE) Stock Rating Upgraded by Mizuho

CubeSmart (NYSE:CUBE) was upgraded by equities researchers at Mizuho to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on CUBE. Royal Bank of Canada reduced their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company reduced their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Barclays reduced their price target on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Finally, KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.31.

CubeSmart Trading Up 6.2 %

Shares of CubeSmart stock opened at $38.11 on Tuesday. The firm has a market capitalization of $8.68 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average is $41.42 and its 200 day moving average is $44.81. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. Equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CubeSmart

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 289 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 389 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 673 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 559 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

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.