Fintel reports that on August 24, 2023, Citigroup maintained coverage of CubeSmart (NYSE:CUBE) with a Neutral recommendation.
Analyst Price Forecast Suggests 25.84% Upside
As of August 2, 2023, the average one-year price target for CubeSmart is 52.12. The forecasts range from a low of 47.47 to a high of $67.20. The average price target represents an increase of 25.84% from its latest reported closing price of 41.42.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CubeSmart is 1,101MM, an increase of 5.50%. The projected annual non-GAAP EPS is 1.30.
What is the Fund Sentiment?
There are 936 funds or institutions reporting positions in CubeSmart. This is an increase of 9 owner(s) or 0.97% in the last quarter. Average portfolio weight of all funds dedicated to CUBE is 0.44%, a decrease of 0.06%. Total shares owned by institutions decreased in the last three months by 2.81% to 262,521K shares. 
The put/call ratio of CUBE is 5.39, indicating a bearish outlook.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 9,869K shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 10,011K shares, representing a decrease of 1.43%. The firm increased its portfolio allocation in CUBE by 8.53% over the last quarter.
Principal Financial Group holds 8,753K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 11,435K shares, representing a decrease of 30.64%. The firm decreased its portfolio allocation in CUBE by 61.13% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,946K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 6,817K shares, representing an increase of 1.85%. The firm increased its portfolio allocation in CUBE by 8.03% over the last quarter.
Jpmorgan Chase holds 6,845K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 5,545K shares, representing an increase of 18.99%. The firm increased its portfolio allocation in CUBE by 747.33% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 6,815K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 6,928K shares, representing a decrease of 1.65%. The firm decreased its portfolio allocation in CUBE by 8.95% 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.
Additional reading:
- CubeSmart Reports Second Quarter 2023 Results
- Form of Restricted Share Grant Agreement for Non-Employee Trustees under the CubeSmart 2007 Equity Incentive Plan
- Form of Restricted Share Unit Grant Agreement for Non-Employee Trustees under the CubeSmart 2007 Equity Incentive Plan
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