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CubeSmart (CUBE) – Don’t Be So Quick to Call it Dead

CubeSmart (NYSE: CUBE) is 10.76% higher on its value in year-to-date trading and has touched a low of $36.82 and a high of $51.02 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CUBE stock was last observed hovering at around $45.10 in the last trading session, with the day’s loss setting it -0.52% off its average median price target of $51.00 for the next 12 months. It is also 30.34% off the consensus price target high of $64.00 offered by 12 analysts, but current levels are 5.15% higher than the price target low of $47.00 for the same period.

Currently trading at $44.58, the stock is -1.62% and -2.90% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.17 million and changing -1.15% at the moment leaves the stock 1.70% off its SMA200. CUBE registered 5.24% gain for a year compared to 6-month gain of 9.80%. The firm has a 50-day simple moving average (SMA 50) of $13.19 and a 200-day simple moving average (SMA200) of $19.01.

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The stock witnessed a -1.98% loss in the last 1 month and extending the period to 3 months gives it a 0.95%, and is -1.81% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.78% over the week and 2.02% over the month.

CubeSmart (CUBE) has around 2804 employees, a market worth around $9.99B and $1.03B in sales. Current P/E ratio is 28.72 and Fwd P/E is 25.68. Profit margin for the company is 34.10%. Distance from 52-week low is 21.08% and -12.62% from its 52-week high. The company has generated returns on investments over the last 12 months (5.80%).

CubeSmart (CUBE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for CubeSmart (CUBE) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.40, where 6 rate it as a Hold and 1 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

CubeSmart is expected to release its quarterly report on 07/27/2023.The EPS is expected to grow by 18.30% this year

CubeSmart (CUBE) Top Institutional Holders

The shares outstanding are 225.29M, and float is at 223.16M with Short Float at 4.44%.

CubeSmart (CUBE) Insider Activity

A total of 11 insider transactions have happened at CubeSmart (CUBE) in the last six months, with sales accounting for 2 and purchases happening 9 times. The most recent transaction is an insider sale by MARTIN TIMOTHY M, the company’s CFO. SEC filings show that MARTIN TIMOTHY M sold 42,537 shares of the company’s common stock on May 05 at a price of $45.87 per share for a total of $1.95 million. Following the sale, the insider now owns 0.28 million shares.

CubeSmart disclosed in a document filed with the SEC on Mar 03 that MARR CHRISTOPHER P (CEO) sold a total of 19,000 shares of the company’s common stock. The trade occurred on Mar 03 and was made at $48.33 per share for $0.92 million. Following the transaction, the insider now directly holds 0.48 million shares of the CUBE stock.

CubeSmart (CUBE): Who are the competitors?

The company’s main competitors (and peers) include Life Storage Inc. (LSI) that is trading 15.08% up over the past 12 months and Public Storage (PSA) that is -7.87% lower over the same period. Extra Space Storage Inc. (EXR) is -15.99% down on the 1-year trading charts.

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