B. Riley Analysts Give CubeSmart (CUBE) a $32.00 Price Target
A number of other brokerages have also issued reports on CUBE. BidaskClub upgraded CubeSmart from a buy rating to a strong-buy rating in a research report on Tuesday, November 7th. Zacks Investment Research lowered CubeSmart from a hold rating to a sell rating in a research report on Monday, July 31st. Raymond James Financial, Inc. lowered CubeSmart from an outperform rating to a market perform rating in a research report on Wednesday, August 30th. Robert W. Baird reiterated a buy rating and set a $27.00 target price on shares of CubeSmart in a research report on Tuesday, October 17th. Finally, Evercore ISI reiterated an outperform rating and set a $28.00 target price (up previously from $27.00) on shares of CubeSmart in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $28.10.
Shares of CubeSmart (NYSE:CUBE) traded down $0.31 during trading hours on Tuesday, reaching $29.08. 1,621,843 shares of the company traded hands, compared to its average volume of 1,623,656. The firm has a market cap of $5,320.00, a P/E ratio of 18.84, a PEG ratio of 3.77 and a beta of 0.20. CubeSmart has a one year low of $22.83 and a one year high of $29.67. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.00.
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Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in CubeSmart by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 370 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of CubeSmart by 31.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 1,306 shares during the period. Commonwealth Bank of Australia raised its holdings in shares of CubeSmart by 3.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 283 shares during the period. World Asset Management Inc purchased a new position in shares of CubeSmart during the 3rd quarter worth $200,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of CubeSmart during the 3rd quarter worth $211,000.
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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