CubeSmart (NYSE:CUBE) Price Target Raised to $45.00 at Barclays

CubeSmart (NYSE:CUBE) had its price target lifted by stock analysts at Barclays from $43.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 10.70% from the stock’s current price.

A number of other brokerages have also recently commented on CUBE. UBS Group lowered their target price on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company reduced their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Truist Financial lowered their price objective on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Tuesday, January 20th. Finally, Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, CubeSmart presently has an average rating of “Hold” and an average price target of $44.27.

CubeSmart Trading Down 1.1%

NYSE CUBE traded down $0.47 on Thursday, reaching $40.65. The stock had a trading volume of 348,995 shares, compared to its average volume of 2,372,616. The company has a quick ratio of 0.47, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average price of $38.26 and a two-hundred day moving average price of $38.72. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 12.78 and a beta of 1.10.

Insider Buying and Selling

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the sale, the insider owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. This trade 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 can be accessed through this link. 1.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wiser Advisor Group LLC acquired a new position in CubeSmart in the third quarter valued at $28,000. True Wealth Design LLC boosted its position in shares of CubeSmart by 308.2% in the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 524 shares during the period. Private Trust Co. NA boosted its position in shares of CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 478 shares during the period. Geneos Wealth Management Inc. grew its stake 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 buying an additional 568 shares during the last quarter. Finally, Huntington National Bank increased its position in CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 295 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

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.