CubeSmart (NYSE:CUBE) Upgraded to Hold at Deutsche Bank Aktiengesellschaft

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

A number of other research firms have also commented on CUBE. Wells Fargo & Company upped their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Finally, Evercore ISI increased their price target on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.36.

CubeSmart Trading Down 0.7 %

Shares of NYSE CUBE opened at $41.28 on Friday. The firm has a 50 day moving average price of $46.16 and a two-hundred day moving average price of $48.28. The stock has a market cap of $9.34 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 13.00 and a beta of 0.87. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. 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 (NYSE:CUBE) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. As a group, equities analysts forecast that CubeSmart will post 2.63 EPS for the current year.

Institutional Investors Weigh In On CubeSmart

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in CubeSmart by 34.2% in the second quarter. Victory Capital Management Inc. now owns 372,591 shares of the real estate investment trust’s stock valued at $16,830,000 after purchasing an additional 94,894 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of CubeSmart during the 2nd quarter valued at $33,000. Wedbush Securities Inc. grew its stake in shares of CubeSmart by 8.6% during the 2nd quarter. Wedbush Securities Inc. now owns 7,200 shares of the real estate investment trust’s stock worth $325,000 after acquiring an additional 571 shares during the period. American Century Companies Inc. increased its holdings in CubeSmart by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 560,903 shares of the real estate investment trust’s stock worth $25,336,000 after acquiring an additional 77,503 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in CubeSmart by 23.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 154,856 shares of the real estate investment trust’s stock worth $6,921,000 after acquiring an additional 29,184 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

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.