Fintel reports that on December 15, 2023, BMO Capital upgraded their outlook for CubeSmart (NYSE:CUBE) from Market Perform to Outperform .
Analyst Price Forecast Suggests 3.77% Downside
As of November 27, 2023, the average one-year price target for CubeSmart is 43.76. The forecasts range from a low of 37.37 to a high of $53.55. The average price target represents a decrease of 3.77% from its latest reported closing price of 45.47.
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The projected annual revenue for CubeSmart is 1,101MM, an increase of 4.80%. The projected annual non-GAAP EPS is 1.30.
What is the Fund Sentiment?
There are 949 funds or institutions reporting positions in CubeSmart. This is an increase of 32 owner(s) or 3.49% in the last quarter. Average portfolio weight of all funds dedicated to CUBE is 0.39%, a decrease of 8.95%. Total shares owned by institutions increased in the last three months by 2.58% to 262,113K shares. 
The put/call ratio of CUBE is 0.61, indicating a bullish outlook.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 9,503K shares representing 4.23% ownership of the company. In it's prior filing, the firm reported owning 9,869K shares, representing a decrease of 3.85%. The firm decreased its portfolio allocation in CUBE by 10.19% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 7,026K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 6,815K shares, representing an increase of 3.00%. The firm decreased its portfolio allocation in CUBE by 13.74% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,001K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 6,997K shares, representing an increase of 0.06%. The firm decreased its portfolio allocation in CUBE by 11.33% over the last quarter.
Jpmorgan Chase holds 6,765K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 6,845K shares, representing a decrease of 1.19%. The firm decreased its portfolio allocation in CUBE by 14.33% over the last quarter.
Norges Bank holds 6,203K shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 4,299K shares, representing an increase of 30.69%. The firm increased its portfolio allocation in CUBE by 39.14% over the last quarter.
CubeSmart Background Information
(This description is provided by the company.)
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,238 self-storage properties across the United States. According to the 2020 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the U.S.
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