Analysts Set CubeSmart (CUBE) Price Target at $29.00
CubeSmart (NYSE:CUBE) has been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $29.00.
Several research firms have issued reports on CUBE. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday, December 18th. Jefferies Group set a $33.00 target price on CubeSmart and gave the stock a “buy” rating in a research report on Tuesday, November 28th. Robert W. Baird cut CubeSmart from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $27.00 to $29.00 in a research report on Tuesday, November 28th. B. Riley set a $32.00 target price on CubeSmart and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Finally, BidaskClub upgraded CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th.
CubeSmart (NYSE CUBE) traded up $0.13 during midday trading on Thursday, reaching $28.47. The company’s stock had a trading volume of 2,042,210 shares, compared to its average volume of 1,709,552. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a 52 week low of $22.83 and a 52 week high of $29.79. The firm has a market cap of $5,126.18, a PE ratio of 43.14, a price-to-earnings-growth ratio of 3.62 and a beta of 0.22.
In related news, CFO Timothy M. Martin sold 57,746 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.41, for a total value of $1,698,309.86. Following the sale, the chief financial officer now owns 211,694 shares in the company, valued at approximately $6,225,920.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy M. Martin sold 83,409 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total value of $2,445,551.88. Following the sale, the chief financial officer now owns 228,948 shares in the company, valued at approximately $6,712,755.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,425 shares of company stock worth $4,915,172. Insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in CUBE. The Manufacturers Life Insurance Company grew its holdings in CubeSmart by 7.4% during 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 buying an additional 370 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in 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 valued at $181,000 after buying an additional 283 shares during the last quarter. World Asset Management Inc acquired a new stake in CubeSmart during the 3rd quarter valued at $200,000. Campbell & CO Investment Adviser LLC acquired a new stake in CubeSmart during the 3rd quarter valued at $211,000. Finally, Profund Advisors LLC acquired a new stake in CubeSmart during the 2nd quarter valued at $214,000.
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CubeSmart Company Profile
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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