CubeSmart (NYSE:CUBE) Upgraded by KeyCorp to Overweight Rating

CubeSmart (NYSE:CUBE) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a $47.00 price target on the real estate investment trust’s stock. KeyCorp’s price target suggests a potential upside of 10.65% from the company’s current price.

A number of other research analysts have also issued reports on the company. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and reduced their target price for the company from $50.00 to $47.00 in a report on Friday, January 17th. Royal Bank of Canada lowered their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and decreased their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Barclays cut their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Scotiabank lowered shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $52.00 to $46.00 in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.08.

CubeSmart Stock Performance

CubeSmart stock opened at $42.48 on Thursday. The firm has a market capitalization of $9.68 billion, a P/E ratio of 24.00, a PEG ratio of 11.58 and a beta of 0.88. The stock has a fifty day moving average price of $41.81 and a 200 day moving average price of $46.92. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last posted 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. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. Equities research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

Hedge Funds Weigh In On CubeSmart

Several institutional investors have recently modified their holdings of the business. Total Wealth Planning & Management Inc. bought a new stake in shares of CubeSmart during the 4th quarter valued at $229,000. Employees Retirement System of Texas increased its holdings in CubeSmart by 110.2% during the 4th quarter. Employees Retirement System of Texas now owns 154,500 shares of the real estate investment trust’s stock worth $6,620,000 after acquiring an additional 81,000 shares during the period. Capital A Wealth Management LLC bought a new stake in CubeSmart during the fourth quarter valued at approximately $92,000. GF Fund Management CO. LTD. bought a new position in shares of CubeSmart during the 4th quarter valued at about $175,000. Finally, PharVision Advisers LLC purchased a new position in shares of CubeSmart during the 4th quarter valued at about $261,000. 97.61% of the stock is 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.