Royal Bank of Canada Issues Pessimistic Forecast for CubeSmart (NYSE:CUBE) Stock Price

CubeSmart (NYSE:CUBE) had its price objective decreased by stock analysts at Royal Bank of Canada from $53.00 to $48.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 13.66% from the company’s current price.

A number of other equities analysts also recently commented on CUBE. Wells Fargo & Company reduced their price objective on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Scotiabank decreased their target price on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Barclays cut their price target on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.73.

CubeSmart Stock Performance

CUBE traded up $0.95 on Monday, hitting $42.23. 474,288 shares of the stock traded hands, compared to its average volume of 1,562,243. The business has a fifty day moving average price of $41.85 and a two-hundred day moving average price of $47.02. 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 has a market capitalization of $9.55 billion, a PE ratio of 23.86, a P/E/G ratio of 11.58 and a beta of 0.87. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping 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 return on equity of 14.33% and a net margin of 37.79%. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

Hedge Funds Weigh In On CubeSmart

Large investors have recently bought and sold shares of the business. Peterson Financial Group Inc. bought a new stake in shares of CubeSmart during the 3rd quarter valued at $33,000. Blue Trust Inc. grew its stake in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp increased its holdings in CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 389 shares during the last quarter. Versant Capital Management Inc lifted its stake in CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 673 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 559 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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.