Jefferies Financial Group Increases CubeSmart (NYSE:CUBE) Price Target to $62.00

CubeSmart (NYSE:CUBE) had its target price raised by Jefferies Financial Group from $53.00 to $62.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price suggests a potential upside of 14.62% from the company’s current price.

Several other research analysts also recently commented on CUBE. Truist Financial raised their price objective on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Evercore ISI raised their price objective on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday. BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $50.00 to $47.00 in a research note on Wednesday, May 29th. Wells Fargo & Company raised their price objective on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.50.

CubeSmart Stock Up 0.2 %

CUBE stock opened at $54.09 on Wednesday. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $55.14. The business’s 50-day moving average is $49.79 and its two-hundred day moving average is $45.68. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 9.98 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The firm had revenue of $266.20 million during the quarter, compared to the consensus estimate of $260.68 million. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now directly owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now owns 182,460 shares in the company, valued at approximately $8,630,358. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher P. Marr sold 37,000 shares of CubeSmart stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the transaction, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at $27,947,704.20. The disclosure for this sale can be found here. Insiders have sold 88,217 shares of company stock valued at $4,244,344 over the last ninety days. 1.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Whittier Trust Co. lifted its stake in shares of CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 323 shares during the last quarter. Rise Advisors LLC purchased a new stake in CubeSmart in the first quarter worth $26,000. Mather Group LLC. bought a new stake in shares of CubeSmart during the first quarter worth $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of CubeSmart during the second quarter valued at $33,000. Finally, Larson Financial Group LLC bought a new position in shares of CubeSmart in the first quarter worth about $45,000. 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.