In yesterday’s Wall Street session, CubeSmart (NYSE:CUBE) shares traded at $45.25, up 1.07% from the previous session.
14 analysts cover CubeSmart (NYSE:CUBE), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $64.00 and a low of $47.00, we find $50.00. Given the previous closing price of $44.77, this indicates a potential upside of 11.68 percent. CUBE stock price is now 0.63% away from the 50-day moving average and 3.76% away from the 200-day moving average. The market capitalization of the company currently stands at $10.06B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
The stock has received a hold rating from 6 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $50.91 as their price target over the next twelve months.
With the price target of $50, Wells Fargo recently initiated with Overweight rating for CubeSmart (NYSE: CUBE).
In other news, MARR CHRISTOPHER P, CEO sold 22,057 shares of the company’s stock on Jun 07. The stock was sold for $1,001,580 at an average price of $45.41. Upon completion of the transaction, the CEO now directly owns 480,960 shares in the company, valued at $21.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05, CEO MARR CHRISTOPHER P sold 16,948 shares of the business’s stock. A total of $764,397 was realized by selling the stock at an average price of $45.10. This leaves the insider owning 480,960 shares of the company worth $21.76 million. Insiders disposed of 116,224 shares of company stock worth roughly $5.26 million over the past 1 year. A total of 0.69% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CUBE stock. A new stake in CubeSmart shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $30,814,000. WEISS MULTI-STRATEGY ADVISERS LLC invested $26,815,000 in shares of CUBE during the first quarter. In the first quarter, V3 CAPITAL MANAGEMENT, L.P. acquired a new stake in CubeSmart valued at approximately $25,426,000. COPELAND CAPITAL MANAGEMENT, LLC acquired a new stake in CUBE for approximately $25,397,000. APG ASSET MANAGEMENT US INC. purchased a new stake in CUBE valued at around $17,709,000 in the second quarter. In total, there are 544 active investors with 98.00% ownership of the company’s stock.
During the past 12 months, CubeSmart has had a low of $36.82 and a high of $51.02. According to the stock market information, the enterprise value for the company is $13.22B, which is based on a 29.16 price-to-earnings ratio, a 4.86 price-to-earnings-growth ratio, and a beta of 0.60. The fifty day moving average price for CUBE is $44.95 and a two-hundred day moving average price translates $43.63 for the stock.
The latest earnings results from CubeSmart (NYSE: CUBE) was released for Mar, 2023. According to the REIT – Industrial Company, earnings per share came in at $0.43, beating analysts’ expectations of $0.33 by 0.1. This compares to $0.17 EPS in the same period last year. The net profit margin was 34.10% and return on equity was 12.40% for CUBE. The company reported revenue of $256.53 million for the quarter, compared to $238.56 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.53 percent. For the current quarter, analysts expect CUBE to generate $234.48M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 07/03/2023 were paid a $0.49 dividend. On an annualized basis, this represents a $1.96 dividend and a 4.33% percent yield. There was an ex-dividend date of 06/30/2023 for this dividend. In terms of dividend payout ratio, CUBE is presently at 111.90%.
CubeSmart(CUBE) 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.
