CubeSmart (NYSE:CUBE) Given New $42.00 Price Target at Scotiabank

CubeSmart (NYSE:CUBE) had its price target hoisted by equities research analysts at Scotiabank from $39.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 8.48% from the company’s current price.

Other analysts also recently issued reports about the company. Truist Financial reduced their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft lowered shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Tuesday, January 20th. Mizuho decreased their price target on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, UBS Group dropped their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.86.

CubeSmart Stock Up 1.3%

Shares of CubeSmart stock traded up $0.51 during trading on Friday, hitting $38.72. 592,255 shares of the stock were exchanged, compared to its average volume of 2,333,461. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. The firm’s 50-day moving average price is $38.69 and its 200 day moving average price is $38.71. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 26.77 and a beta of 1.10. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13.

Insider Activity

In other news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On CubeSmart

A number of institutional investors and hedge funds have recently bought and sold shares of CUBE. Wiser Advisor Group LLC purchased a new position in CubeSmart during the third quarter worth $28,000. Private Trust Co. NA boosted its stake in shares of CubeSmart by 209.6% during the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 478 shares during the last quarter. Geneos Wealth Management Inc. increased its position in CubeSmart by 174.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 568 shares in the last quarter. Huntington National Bank increased its position in CubeSmart by 43.3% during the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new position in CubeSmart in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.